Savills Montenegro - Property for Sale Croatia

Savills Montenegro - Property for Sale Croatia

Savills Montenegro

Consultancy Office

Bulevar Svetog Petra Cetinjskog 1/A,

81000 Podgorica, Montenegro

Tel/Fax: +382 (0) 20 243 515



Savills Montenegro

Research, Marketing and Sales Office

Business Centre Marinovic

85318 Radanovici, Kotor, Montenegro

Tel/Fax: +382 (0) 32 302 308



Savills Montenegro

Consultancy & Research


Fresh Perspectives

Opportunities in residential,

mixed-use and resort communities

Savills Montenegro | Overview

Savills Montenegro is the largest international Real

Estate Services Business and most trusted brand in

Montenegro that offers comprehensive and professional

services in the area of sales and marketing, market

research, project consultancy, development management

and such, combining local market knowledge and global

expertise. Savills Montenegro was established in 2004,

with a goal of developing a company that would lead the

way in the emerging market of Montenegro as regards

providing confidence to all levels of investors, offering a

wraparound service and providing a partnership model

to clients whereby our business is an extension of theirs,

the strength and quality of service and our expertise.

Savills Montenegro is an international associate of Savills

- the Premier Property Services Company and Sales

Brand globally with a tradition of more than 150 years,

and 259 offices in 27 countries, and one of the top 4

real estate companies globally, and listed on the London

Stock Exchange.

Savills Montenegro has offices in Kotor and Podgorica,

as well as throughout the extensive global Savills

network, and currently employs fifteen staff locally. We

are the only property service business in Montenegro

that can offer a strong international team operating

across 3 continents in order to bring clients the best of

prime properties, exclusive off plan resorts, and strong

consultancy services offering advice on the latest trends

in the property industry. Our unique position of having

been involved in actual sales in Montenegro over the last

6 years gives us an unparallel edge in the marketplace

– delivering actual live consultancy information to our

valued client base and not just theory.

Besides the traditional real estate model, Savills

Montenegro together with Savills is currently retained

by some of the top projects in Montenegro to provide

advice to the relevant authorities in Montenegro and to

typically international developers, as well as to local and

international media on the market and trends. Under

consultation at the moment are clients from the Middle

East, Russia and the UK and include some of the highest

profile projects in Montenegro.

A sample of our client base in Montenegro is the Russian

development company Metropol and the island of

Sveti Marko, in Tivat Bay. Here, Savills plays the role

of development manager, advising on the master plan,

and coordinating partners’ activities such as builders

Bovis Lend Lease, engineering firm ARUP, architects

Woods Bagot and cost consultants Davis Langdon. In

turn, Savills and Savills Montenegro also introduced and

brokered the hotel deal with the six star Banyan Tree

Hotels & Resorts and is the exclusive global sales agent

for the project – That’s what we call our wraparound


In September 2010 Savills Montenegro won a prestigious

5 star award in the category of Best Real Estate Agency

in Montenegro and was chosen to be the Best Real

Estate Agency in Europe by the selection committee of

the prestigious International Property Awards – Europe &

Africa Property Awards 2010.

A sample of projects completed jointly by Savills and Savills Montenegro

Project name: Marketing and Communication Strategy for Projects of

Special Significance Velika Plaža and Ada Bojana

* Location: The Municipality of Ulcinj, Montenegro

* Client: Ministry of Sustainable Development and Tourism

* Our Role: Strategy creation

Project name: PUP (Spatial Plan) of Ulcinj

* Location: The Municipality of Ulcinj, Montenegro

* Client: Ministry of Sustainable Development & Tourism

* Description: Development of a spatial plan for the municipality of


* Our Role: SP creation

A sample of projects completed jointly by

Savills and Savills Montenegro

Project name: Sveti Marko Island

* Location: Tivat Bay, Montenegro

* Client: Metropol Development, Russia

* Description: Luxury private villas, 6* Banyan Tree

hotel & spa

* Our Role: Development management,

development consultancy, marketing &

sales consultancy, exclusive global sales

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Savills Montenegro | Introduction


Savills Montenegro together with Savills L&P offers a

comprehensive and professional service combining local

market knowledge, global expertise and entrepreneurial

flair, adding significant value to our clients’ projects

through the consultancy process.

Optimal Solutions

Savills Montenegro Development Services Team draws

on Savills worldwide resources to provide a tailor-made

service for developer and landowner clients by selecting

the best project team and identifying optimal solutions.

By acting as a bridge between the client and project

team, Savills Montenegro ensures timely and successful

delivery of the project, anticipating and dealing with

challenges and risks and recommending key solutions.


The rationale behind Savills Montenegro services is

straightforward. The cornerstone of the service is incisive

market research and analysis – understanding the client’s

goals as well as the market’s requirements. By offering

clients a project manager with a close knowledge of

our business, as well as having access to established

relationships with market leaders, we can ensure the

client has the best team working on their project.

We provide integrated solutions taking on the full

responsibility for managing and coordinating all aspects

of a project. This extends from project establishment

through to implementation and overall completion.

Whatever the service, we are completely committed to

delivering certainty of cost, program and quality.

A sample of projects completed jointly by Savills and Savills Montenegro

Project name: Planning & Development Advice to Montenegrin Government

* Location: Montenegro

* Client: Ministry of Sustainable Development and Tourism

* Description: Strategic development, research & planning consultancy

* Our Role: Advising the Montenegrin Government on improvements of the

current planning system, and the development of infrastructure

framework and masterplanned communities throughout the

country needed to create a high end sustainable tourism desti


A sample of projects completed jointly by Savills and Savills Montenegro

Project name: Porto Montenegro

* Location: Tivat Bay, Montenegro

* Client: Adriatic Marinas

* Description: Apartments, 600-berth mega-yacht marina (duty-free fuel, yacht provisioning and

concierge services, a golf course and repair and maintenance facilities), boutique

five-star hotels, restaurants, bars, and cafes, shops, galleries, a nautical museum,

a farmer’s market, a lido pool, an international school, a private medical facility,

sports and recreational facilities

* Our Role: Development consultancy, Marketing & Sales consultancy

Why Savills Montenegro?

We believe each instruction is special. No matter how

large or small the project we provide the same quality

of service, which is intended to exceed your aspirations

of quality and delivery. Our objective is to help the client

create a world-class destination that will sell - and of

course to meet financial expectations, be achievable and

financially successful.

Our approach is to provide uncompromising attention to

detail and robust development management taking on

responsibility and driving the project to meet the client’s


To achieve this, every project is managed by experienced

Savills and Savills Montenegro directors who will remain

with the project from inception to completion and will be

available for any follow-ups. All of our team members

are passionate about creating projects that meet

international criteria and can be successfully marketed.

The hallmark of Savills Montenegro service is our proven

track record of integrating the knowledge of the marketfacing

consultants with the expertise of the technically

minded development management team to achieve the

best commercial outcomes.

Our values encompass:

- Robust leadership and management

- Constant clear communication

- Pioneering with experience

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Savills Montenegro | Services - Residential and resort communities

Savills Montenegro Development Services team and

Savills Development Services Team have extensive

experience with large-scale residential, mixed-use and

integrated resort master-planned communities.

Understanding the buyer

We have a thorough understanding of global and local

property demand dynamics. Our knowledge of target

buyer markets, in terms of nationality, product and

design preferences, purchase motivations and budget,

means we can advise on all aspects of the development

process whilst taking into account how the product

will be brought to the market. This will contribute to

ensuring successful sales levels and consequently higher

investment returns.

Building a lifestyle

Taking into account end-users’ demands, we can

advise on the type, mix and location of the residential

component of the development, as well as its relation

to adjoining land-uses, and how it should be orientated

according to aspect and topography from a demand


Corresponding to residents’ and guests’ needs, we

provide consulting services throughout the development

process on supporting amenities, facilities and services,

A sample of projects completed jointly by Savills and Savills Montenegro

Project name: Oracom Premium Holiday Resort

* Location: Traste Bay, Lustica Peninsula, Tivat, Montenegro

* Client: Lustica Development AD, project company and the subsidiary of

Orascom Development Holding AG

* Description: 8 hotels (2200 keys), 1600 apartments, 750 villas, downtown area

with all the necessary facilities (shopping, school, medical services),

2 marinas, water sports, conference centre, Thalasso Centre, 8-hole golf course

* Our Role: Market research, masterplan/detailed design consultancy

A sample of projects completed jointly by Savills and Savills Montenegro

Project name: Adriatic Fair

* Location: Budva, Montenegro

* Client: Boka Fund

* Description: A convention centre and exhibition hall, 180 room luxury

Wyndham Grand hotel with beach access, a private beach club,

potential casino, conference facilities, restaurants and retail

space, 161 high-end waterfront residential units

* Our Role: Development consultancy, Market Research

whilst also considering social infrastructure

requirements such as schools, commercial premises,

hospitals, community centers or sports facilities.

In larger residential communities, this would also

include environmental as well as social infrastructure,

for example renewable energy initiatives, locally

sourced labor and materials, and local environmental


The development concept and community identity is

reflected not only in the ‘placemaking’ design of the

physical space, but also in the market positioning and

perception of the operating brand. Savills’ experience in

the hospitality sector enables us to consult and secure

leading branded operators.

Maximizing returns

All of these factors must be considered in order to

maximize the efficiency and value return from the project.

The more desirable the on-site lifestyle is perceived to

be, the higher the value of the residential real estate, and

subsequently the return on investment. Therefore, our

advice is focused on drawing in buyers and guests to

invest in well-planned, intelligently designed and socially

responsible communities, thereby ensuring the long-term

commercial viability of the entire development.

Savills Montenegro | Consultancy & Research Services

Savills Montenegro and Savills L&P services are

structured to assist clients across the following areas:

Market Research

• Knowledge of global and local residential demand


• In-depth local market research, specific to the project

concept and positioning

• Analysis including demand and supply dynamics

(product, pricing, buyer markets, buying motivation)

and a review of the local market development context

(economic and tourism profile) with impact on the

residential market and proposed projects

Project Feasibility Analysis

• Site assessment and analysis, including advice on land

assembly and acquisition

• Concept and marketing positioning

• Development options viability (unit mix, size, target

market, phasing, absorption and pricing)

• Indicative development appraisals (DCFs, IRR and NPV


• Project performance targets

• Development business plan, deal structuring,

consultancy on joint venture and exit strategies

• Due diligence

Development Investment Consultancy

• Preparation of project investment briefs

• Approach to potential equity investors and lenders

• Project debt advisory (structuring, arranging,

refinancing of existing loans)

• Project equity raise, co-investors, capital/asset

management joint ventures

• Entity-level financing and investments

Design Development Consultancy

• Preparation of project design briefs

• Assembly of core project and design team (master

architect, cost consultant, construction manager,


• Identification and alignment of project parameters with

target markets

• Inform the efficiency and profitability of the scheme

design through masterplanning, land use, product

mix, product sizing, pricing, phasing and delivery


• Ensure a socially responsible and environmentally

conscious development ethos

Development Management & Consultancy

• Co-ordination of project team, acting as client


• Concept value engineering and value management

• Sustainable development solutions

• Budgeting and control

• Quality monitoring and progress reports to client

• Value and risk management

• Secure planning approval and managing of PR process

• Coordination and management of Strategic

Environmental Assessments (SEA) and Environmental

Impact Assessments (EIA)

Hotels & Facility/Resort Managers

• Sourcing of hotel operators

• Negotiations with hotel operators

• Management contract negotiation

• Advice on resort and facilities management

• Commissioning and handover

• Performance audit of existing resorts

Property Sales and Marketing

Savills Montenegro has extensive experience handling

the marketing and sales of residential and resort

properties in Montenegro. The process involves the



Lead generation through databases, PR, advertising,

web, exhibitions, signage.

Sales absorption rates depend on the supply of quality

leads generated by the marketing. ‘Lead-to-sale’

conversion rates tend to vary from 2 % to 5% and the

gestation period from 2-6 months according to the

location, type and price of the property being sold.

Likewise, the cost-per-lead and cost-per-sale.

• Identification of optimal route to market

• Preparation of full global project marketing plans,

including the ‘PLT matrix’ pricing approach

• Coordination of marketing strategy, marketing materials

and PR

• Identification of appropriate agents, training and

management of the sales network and in-house sales


• Recommendation of ownership as well as appropriate

buyer protection structures

• Producing the sales information, brochure, website,

model, contracts

• Designing and running the on-site sales office

Sales and marketing strategic planning and review

Sales centre & team

Designing the sales centre, selecting and training the

sales team, running the on-site sales office.

And at the end of the day, we are a sales agency and sell

property which meets the market’s expectations.

A sample of projects completed jointly by Savills and Savills Montenegro

Project name: Plavi Horizonti

* Location: Tivat, Montenegro

* Client: Qatari Diar Hotel Property Investment Montenegro and HTP Primorje

* Description: High-end Hotel complex with SPA centre and developed infrastructure,

with residential component

* Our Role: Development consultancy, Market Research

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