Sea Breeze initiating project in Montenegro

Sea Breeze is initiating a project in Montenegro, Emin Agalarov, chairman of the Azerbaijan-Russia Business Council, President of Agalarov Development, and founder and owner of the Sea Breeze Resort town, said at the "Investments in the Caspian Region" business panel, Report informs.

"We have already begun construction of the so-called castle on the territory of Shahdag. Furthermore, we understand that Sea Breeze can expand beyond the country's borders-you've probably already heard about the project in Uzbekistan. We have also initiated a project in Montenegro," Emin Agalarov emphasized.

According to him, Sea Breeze's current goal is to reach international investors.

"We are developing approximately 750 hectares of construction-a truly vast area. More than 4.5 million square meters are currently under construction, which amounts to approximately $10 billion. We plan to complete all of this in approximately three years. The project's total investment portfolio is at least $100 billion, which we intend to attract over the next 10 years. The project entails developing a 1,850-hectare site and developing 30 million square meters of diverse real estate: hotels, apartments, aparthotels, villas, commercial areas, schools, universities, and much more," Agalarov added.

Azerbaijan is implementing the Portonovi project in Montenegro. The total investment in the project is approaching $1 billion.