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16 May 2025

Portonovi CEO, Mr. Rashad Aliyev, Highlights Montenegro's Investment Potential at RE:D Conference Montenegro

Podgorica, Montenegro – May 15, 2025 – Portonovi's CEO, Mr. Rashad Aliyev, joined leading voices at the RE:D  Conference Montenegro, where he shared perspectives on Montenegro’s growing appeal as an investment destination and the evolving role of large-scale developments in shaping regional real estate markets.

Participating in the panel titled “Why Invest in Montenegro and the Region from the Experience of the Largest Companies”, Mr. Aliyev spoke alongside: Miloš Grdinić, Director of Development & Asset Management, Delta Real Estate, Miloš Pavlović, President of the Management Board, Universal Capital Bank, Blagota Radović, President of the Board, Zetagradnja.

The conference provided a high-level platform for exchanging insights on strategic investment, sustainable development, and the importance of long-term vision in unlocking the full potential of the Montenegrin real estate sector.

During a panel discussion led by Miloš Komnenić, Founder & Managing Partner, Komnenić & Partners, Mr. Aliyev shared developers’ motivation and initial steps taken to come to Montenegro and bring big brands and operators alongside. The discussion highlighted Montenegro's unique advantages as an investment destination, emphasising its strategic location, natural beauty, and potential for long-term growth, but also developer’s bold commitment to bringing One&Only to Montenegro - one that reflected our belief in the country’s potential and our intention to position it among the world’s most exclusive destinations.

"Portonovi was never a short-term project, and I don’t believe Montenegro is a place where you can enter and exit in two years with significant profits. What this country needs most are strategic partners - investors who come with a long-term vision, build a destination, and leave behind a legacy, for themselves, and for Montenegro.’’, stated Mr. Aliyev.

In his address, Mr. Aliyev explained that despite facing global challenges—from the 2014 oil crisis to the COVID-19 pandemic—the developer remained fully committed to delivering Portonovi through carefully planned phases. The objective was clear: to position Montenegro among the world’s leading ultra-luxury destinations.

“Our motivation was never shaken. That required resilience, adaptability, and a long-term mindset—and we stood by it,” he said. “Montenegro has experienced remarkable progress and growing global visibility. Significant effort and investment—both from us and our peers—went into positioning the country within Europe and the global hospitality map. Today, Montenegro welcomes travellers from the United States, Latin America, the CIS region, and beyond. That didn’t happen by chance. It’s the result of years of strategic focus aimed at capturing the attention of the international hospitality community.”

As part of Portonovi’s long-term investment strategy, the company not only co-established the International Hospitality School in Podgorica with UDG and France’s Vatel University, investing over €500,000 and launching a €100,000 scholarship fund, but also trained more than 500 workers from Bijelo Polje in modern construction techniques, two of many initiatives aimed at creating lasting value and regional impact beyond the project itself.

The panel also addressed Montenegro’s evolving investment climate, the challenges investors are facing, and the pressing need for a more predictable business environment.

“Challenges have certainly been part of the journey, and many remain today. As several colleagues have mentioned, one of the key concerns for any serious investor is the stability and predictability of the state. Long-term investments require a clear understanding of risk and the ability to forecast how that risk will evolve. Ultimately, financial decisions are shaped by the investment risk environment, and when risks rise, so does the cost of capital. Unfortunately, in Montenegro, we’ve seen a steady increase in perceived risk in recent years. I sincerely hope this trend will reverse, bringing greater confidence and clarity for all investors committed to the country’s growth.’’, Mr. Aliyev explained.

All panellists agreed that one of the core challenges for investors in Montenegro is the frequent and unpredictable changes in regulation, which are often introduced without clear guidance or transitional periods. These include shifts in VAT policy, fuel-related regulations, and profit taxation—all of which increase uncertainty, complicate planning, and impact the long-term sustainability of large-scale investments. 

As discussed, unpredictable regulations and outdated procedures remain one of the biggest challenges for foreign investors, not just those already here but especially those watching from the outside and deciding whether to enter the market. Developing ultra-luxury projects under frameworks from the 1970s is both time and cost-intensive.

‘’Yet, with continuous dialogue and a shared willingness to find solutions, most issues can be resolved. Our experience with Portonovi proves that when the private sector and the state work hand in hand, progress is possible - it becomes visible, measurable, and globally recognised, Mr. Aliyev concluded in his address.

Portonovi’s participation in the RE:D Conference Montenegro reaffirms its commitment to contributing to Montenegro’s growth as a premier investment destination. The company’s journey is a powerful example of what’s possible when vision, trust, and long-term partnership create lasting value.