Regent Hotels & Resorts : The Investment Corporation of Dubai Acquires Porto Montenegro and Regent Porto Montenegro Hotel & Residences (United Arab Emirates)
Phase II Regent Pool Club Residences to open in summer of 2017 |
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Regent Hotels & Resorts : The Investment Corporation of Dubai Acquires Porto Montenegro and Regent Porto Montenegro Hotel & Residences (United Arab Emirates)
Phase II Regent Pool Club Residences to open in summer of 2017 |
Category: Middle East - United Arab Emirates - Industry economy
- Hotel projects
This is a press release selected by our editorial committee and published online for free on 2016-05-24
Regent Hotels & Resorts is pleased to confirm that The Investment Corporation of Dubai (ICD), the principal investment arm of the Government of Dubai, agreed to the purchase of Porto Montenegro Marina and Resort in May 2016. The transaction marks ICD’s first investment in Montenegro and the yacht marina sector, both of which are expected to experience strong growth in coming years.
Regent Porto Montenegro’s new ownership with ICD marks an exciting next chapter for Porto Montenegro, as the destination’s development accelerates, further positioning it as a luxury destination and the leading yachting community.
“I was inspired by the vision of Porto Montenegro founders Peter Monk, Jacob Rothschild and Bernard Arnault to recreate Monte Carlo in Montenegro. We very much look forward to working with ICD and the expert team in Porto Montenegro. ICD is the premier sovereign wealth fund with expertise in visionary destination developments,” said Steven Pan, Chairman of Regent Hotels & Resorts.
In Summer 2017 Regent Porto Montenegro will launch its Regent Pool Club Residences. The residential development, directly adjacent to the existing hotel in the heart of Porto Montenegro, comprises 62 units of luxury hotel residences for sale.
Steven Pan continues, “Regent introduced the mixed use hotel residential concept to Europe and Regent Porto Montenegro was the first hotel built and opened after the financial crisis. Its success has led to the development of phase II Regent Pool Club Residences.”
Regent Pool Club Residences will offer some of the most prestigious waterfront addresses on the Adriatic, with one-, two- and three-bedroom luxury hotel residences with unobstructed sea and mountain views. The hotel residences will be designed by the award winning WATG architects of London and MHZ interiors of Paris following their success at the hotel.
An extensive private pool and garden area includes a 38m infinity-edge pool, a 26m lap pool and a dedicated children’s pool. An international restaurant will also provide full pool side and dining services. Based on the ‘hotel condominium’ model, the for-sale hotel residences have full and direct access to the extensive services and amenities of the five-star Regent Hotel including concierge, spa & fitness, room and dining services and an onsite management team that can take care of all maintenance and rental administration at the owners’ request.
Designed to be the most luxuriously appointed seaside residences on the Adriatic, Regent Pool Club Residences range in price from €409,000 to €3,719,000.
About Investment Corporation of Dubai
ICD was established in May 2006 by decree (11) of 2006 under a mandate to consolidate and manage the Government of Dubai’s portfolio of commercial companies and investments. It also provides strategic oversight by developing and implementing investment strategy and corporate governance policies with an objective to maximize stakeholder value, for the long-term benefit of the Emirate. ICD, as the principal investment arm of the Government of Dubai currently has a portfolio that represents a cross-section of Dubai’s most recognized companies, in sectors that the Government of Dubai has deemed to be strategic for the continued development of the Emirate. The sectors include financial services, transportation, energy and industries, real estate and leisure, retail and other holdings. For more information about ICD please visit www.icd.gov.ae.
About Porto Montenegro
Porto Montenegro is the Mediterranean’s leading luxury yacht homeport and marina village. The state-of-the-art facility has been designed to cater to the advanced needs of all yachts, their owners, guests and crew with specific infrastructure for the largest yachts afloat. The marina currently has 450 berths, 228 sold-out luxury apartments, as well as 55 units of ground floor retail made up of restaurants, bars, cafes, shops and amenities and a five star Regent Hotel with over 80 luxury suites and apartments. For more information about Porto Montenegro visit www.portomontenegro.com.
About Regent Porto Montenegro
Elegant Regent Porto Montenegro is a luxuriously furnished property with 57 double bedrooms and 30 one-, two- and three-bedroom suites and residences, advanced meeting facilities and the spectacular Regent Spa. The Venetian-style design complements the breathtaking natural beauty of Boka Bay and brings true luxury to the 460-berth Porto Montenegro, an exclusive lifestyle destination. Offering guests mainly Mediterranean cuisine with Asian accents from Regent Hotels & Resorts’ rich heritage, the hotel boasts three in-house restaurants - Dining Room, Library Bar and Gourmet Corner patisserie – which are among the most elegant dining options in Montenegro. For more information about Regent Porto Montenegro, visit www.regentportomontenegro.com
About Regent Hotels & Resorts
Regent is a global luxury hospitality brand encompassing hotels, resorts and residences. It was founded in the 1970s by legendary hotelier Robert H. Burns, later joined by Adrian Zecha and Georg Rafael. In the ‘80s and ‘90s, Regent is the first hotel brand to introduce the 5-fixture bathroom, the all-villa resort, and the mixed-used hotel development. It is a truly Asia-based global hospitality group to successfully challenge the industry’s European and US dominance, both with the opening of the flagship Regent Hong Kong and the iconic Regent Beverly Wilshire. As an international leading hotel brand, Regent has been constantly receiving award recognitions around the world. The existing Regents are located in Beijing, Berlin, Porto Montenegro, Taipei andSingapore with new hotels opening in China’s Chongqing and Harbin, as well as a return to Jakarta in 2018. For more information, please visit www.regenthotels.com.
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