Nabarro has advised Montport Capital on the sale of the Porto Montenegro Marina and Resort, a landmark yacht marina and waterfront development in Montenegro to The Investment Corporation of Dubai (ICD), the principal investment arm of the Government of Dubai.

Located within the Bay of Kotor, a World Heritage site on the Adriatic Sea, the waterfront development offers a lifestyle community for boat owners, residents and tourists, set against the magnificent background of the Montenegrin Mountains.  In only ten years, Porto Montenegro firmly established itself as a prime destination for the yachting community, and was awarded the Superyacht Marina of the Year in 2015.

Porto Montenegro was conceived and developed by Canadian entrepreneur Peter Munk, founder of Barrick Gold of Toronto – the world’s largest listed mining company - who, with an international group of investors led by Lord Rothschild, envisioned and financed the transformation of a derelict naval base into a major yachting destination. Porto Montenegro moved from concept to reality in just under 10 years.

Executed and managed from inception by Managing Director Oliver Corlette and his team, the development has always enjoyed the support of the Prime Minister of Montenegro, his Government, and the people of Tivat and Montenegro.

At the helm of the Nabarro team was Corporate partner Peter Williamson assisted by associate Sabby Buwal. Corporate Partner Charles Fuller from Hogan Lovells Dubai advised the ICD.

Corporate partner at Nabarro Peter Williamson added:

“We were thrilled to advise Montport Capital on such a fascinating transaction.  Porto Montenegro is one of the many projects that will help develop Montenegro as an elite tourist destination. We thoroughly enjoyed the opportunity of being able to apply our international cross border legal expertise to deliver the transaction in accordance with the wishes of both the seller and the buyer.”