The Collection vol.33

WORLDTIMER GMT

A view from the top of the world. Surrounding the laser-sculpted Earth, the dial of this true traveler’s watch provides a variety of time zone information, seamlessly merging beauty with functionality.

The Worldtimer has a 60-hour power reserve to keep you moving longer, and the 24-hour disc allows tracking the time of significant destinations around the world, including day, night and even daylight savings at a glance.

If you have a home in New York, a business partner in Beijing or a friend in Dubai, it’s never been easier to keep track of the time zones that matter to you.

As a Co-Axial Master Chronometer, the Worldtimer will require less servicing throughout its lifetime, while also guaranteeing the industry’s highest standard of precision, performance and magnetic resistance up to 15,000 gauss, as certified by the Swiss Federal Institute of Metrology (METAS).

Each timepiece carries a 5-year worldwide warranty and one more important feature: access to our factory records to see its performance the day it was certified.

THE ART OF FUSION

BIG BANG UNICO

18K yellow gold case. In-house UNICO chronograph movement.

Residential Building Ozana, Obala BB - 85320 Tivat

MY HAPPY HEARTS Handcrafted in Ethical Gold

WE ARE ALL CONNECTED

We connect more countries than any other.

A perfect winter escape on the wild and beautiful shores of Montenegro.

oneandonlyportonovi.com

YOUR MAGICAL WINTER PALACE

Henley & Partners is the global leader in residence and citizenship by investment. Each year, hundreds of wealthy individuals and their advisors rely on our expertise and experience in this area. The firm’s highly qualified professionals work together as one team in over 35 offices worldwide. The firm also runs a leading government advisory practice that has raised more than USD 10 billion in foreign direct investment. For more information on acquiring alternative citizenship, e-mail yourfuture@henleyglobal.com or visit henleyglobal.com

IMPRE SSUM

THE COLLECTION

UREĐUJE I IZDAJE / EDITING AND PUBLISHING

The Collection d.o.o. Podgorica Ulica Vukice Mitrović 16B 81000 Podgorica T: +382 20 655 717 sales@theluxurycollection.me

GLAVNI UREDNIK / EDITOR-IN-CHIEF Miodrag Spahić DIZAJN, PRIPREMA ZA ŠTAMPU / DESIGN, PREPRESS DesignBox.me

TEKSTOVI / TEXTS George Roberts, Miodrag Spahić, Miloš Duletić, Marija Crnjak, Sofija Aćimović

ART DIREKTOR / ART DIRECTOR Jadranka Simonović

TEHNIČKI UREDNIK / TECHNICAL EDITOR P.J. Mcllroy

FOTOGRAFIJA / PHOTO U magazinu su korišćene fotografije institucija i kompanija oglašivača

NASLOVNA STRANA / COVER PAGE Cover image: Belgrade Waterfront, Serbia Photo credit: Marko Obradovic Edge / Instagram: marko_edge

OGLAŠAVANJE / ADVERTISING

Miodrag Spahić +382 67 305 035, sales@theluxurycollection.me Miloš Duletić +382 67 261 817, milos@theluxurycollection.me Sofija Aćimović +381 63 440 047 sofija.acimovic@thecollectionmags.com

PREVODIOCI / TRANSLATORS Sanja Stojović

LEKTORI / PROOFREADERS George Roberts ŠTAMPA / PRINTING BY DPC - Grafotisak, Grude TIRAŽ/ COPIES 9.000 Rješenjem Ministarstva kulture Crne Gore list je upisan u Evidenciju medija pod rednim

Courtesy of Portonovi

THIS IS FOR ALL SENSES.

Beosound

Theatre

SOUNDBAR WITH VISION

INTRODUCTION

Dear Readers,

It was Heraclitus, the Greek philosopher, that quoted "that the only thing constant in life is change". And this is even more true today than ever. We embrace this ethos here at The Col lection, and we continually strive towards progress and adap tations to meet the needs of our advertisers, our readers and ever-changing world.

Each edition is a new chapter in evolution.

We continue to expand our distribution breadth and now cover all areas of Ex-Yugoslavia and have added Albania to our base. One of our key unique selling points has always been our envied excellence in distribution. Delivering our publication into the hands of HNWI and decision makers. We have now gone even further with new areas where you can find us in new hotels and important relevant locations in Ljubljana, Tirana and Sarajevo.

We also now have a specially designed presentation package which are hand-delivered to the top 100 business leaders in the region.

As the undisputed leader in high-end print in the region and further afield, we sometimes have the conversation regarding the merits of print media versus online publications. Of course, we offer both, but our print version is our differentiator, our unique strength. As such, we were very pleased to read the recent poll by ‘Yougov Global Profiles’, where almost 250,000 readers were surveyed and came to the conclusion that more than 50% of adults prefer reading magazines in print. “Luxury product marketing can only be truly appreciated in print”, con tinued the results of the survey.

This edition is packed full of informative features, which we are sure that you, our treasured readers, will enjoy. We look at

the real estate market in Serbia, which is booming like never before, against global odds. The trend is similar in Dubrovnik and Istria. Sales within ‘mixed-use resorts’ with branded resi dences are performing at least 3 times better in Serbia and Montenegro than in other projects in Europe. This is largely thanks to the Citizenship by Investment program in Montene gro and the concept of branded residences. We include features on both stimuli in this edition.

What a tourist season in our region over the spring, summer and autumn periods! We are clearly almost back on track, postpandemic. We are delighted to see cross-border cooperation beginning to happen between countries to attract tourists to our region, which have everything anyone could ask for, and the whole region as an offer is certainly greater than the sum of its parts.

A recent report by the Economist Intelligence Unit (EIU) re leased its forecasts for tourism in 2023. The report finds that global tourism arrivals will increase by a further 30% in 2023 over 2022, bringing global markets back into similar numbers territory as 2019. This is something the industry will urgently have to prepare for in the region as now, our increasing prob lem is not attracting tourists, but having the workforce to de liver the service and levels of quality expected by an ever in creasingly exacting client.

Moreover, this forecasted increase will put further strain on the seasonality of our tourist arrivals – with the numbers arriv ing at peak times, and little positive effect on the low shoulder periods. With this in mind, we include a feature on golf, the proven season extender and we will continue to feature golf in future editions, with a focus on pipeline projects in the region.

Moving into the colder months, the region is busy prepar ing for the winter season - Kopaonik, Jahorina and Kolasin, for instance, are ready to receive tourists from all over the world.

Then there is food, glorious food. We look at Albania and Slovenia and how each country has redefined their gastronomy offers and deliver another reason to visit these wonderful and diverse countries.

As always, our sincere thanks to our advertisers who agree with the survey above that ‘luxury product marketing can only truly be appreciated in print.'

We hope you enjoy our winter edition, and from all of us here at The Collection, our warmest season’s greetings to you and here’s to a brighter, more prosperous and peaceful 2023.

The Collection Magazine Team

Miodrag Spahić, Director, The Collection Magazine

“Nothing lasts forever. Well, almost nothing.” – nina badrić

www.zlatarna dodic.hr zagreb Ilica 46 | Dubrava 2 | City Center one West rakovica Plitvice Mall split City Center one Split | Mall of Split

The most desirable address in Ljubljana

The most beautiful city, guarded by dragons: Ljubljana, a city with a picturesque mixture of Baroque and Art Nouveau, calm beauty, full of life and grace. In the heart of Ljubljana lies the elite complex of Palais and Villa Schellenburg, characterised on one side by its proximity to the historic centre, and embraced by Tivoli Park on the other; the most desirable address in Slovenia.

A city where you will never go hungry

Ljubljana is a city with an old soul. The city’s streets were frequented by poets, painters, and architects who influenced and wrote and made its history. Even today, France Prešeren gazes towards his beloved Juliet, and next to him, Plečnik’s Triple Bridge stretches across the emerald river, connecting the banks like the hands of lovers. Heartbroken lovers listen to the symphonies of violinists gently echoing in the evenings, and in the mornings, the many small terraces are alive with the sound of clinking coffee cups which flows through the narrow streets like the melody of Ljubljana’s prestige. The meeting point of European culture, art, festivals and cuisine will make sure your body and soul never go hungry.

Ljubljana – the meeting point of modern and classic

Location and atmosphere are a winning combination when looking for an apartment, because we are not merely deciding where we will live, but how we will live. The Schellenburg complex has both; on one side lies the modern city park, and on the other the old city centre, full of life and stories written into the city’s architecture. The granite cubes remind us that the streets of Ljubljana were once paved by the ancient Romans, some of whose artefacts are still under our feet today.

The most beautiful address in Ljubljana

The Schellenburg complex is a dialogue between two contrasting architectural styles. While the architecture of the Palais building follows the rhythm and design language of its corresponding commercial building, the Villa expresses the character of a sovereign solitary mountain. However, both contrasting buildings share high expectations, which are met with the interior arrangement of the apartments: the uncompromising top-quality execution of the luxurious apartments is a reflection of thoughtfulness and artistic perfection. The premium apartments of the Schellenburg complex redefine the culture of living in Ljubljana, and poetically complement the soul of the most beautiful city in the world.

STEP ONTO A NEW WORLD.

Meet centuries of beauty at every turn, with each point of the island stirring different emotions and distinct sensations. A hotel surrounded by the sea, with you at its heart. Where culture, hospitality, and nature unite to brighten life’s best bits. The bits that reconnect you with what you love.

A FORT YOU SEE FROM AFAR, BUT FEEL STRAIGHT AWAY

ZOI Restaurant, Split, Croatia

This summer, Portonovi was the place to be on the Montenegrin coast, and it will remain so throughout the year. The resort is not ac tive only during the summer - different cultures, styles, traditions, entertainment, and cultural programs make it vibrant and appealing all year round. A diverse offer and a program with an abundance of events appeal to guests to visit Portonovi and gain a unique experience during every season. This luxurious resort hosts an abundance of attrac tive events, and visitors always get a different experience, completed by an offer of accommodation, restaurants with a range of diverse dishes, as well as modern art, entertain ment, and cultural scene. All these things are additional rea sons to choose Portonovi as your destination for one of your future trips, as it is one of the best and most sought-after Montenegrin destinations.

Located less than an hour's drive from international airports in Ti vat and Dubrovnik, Portonovi covers an area of almost two kilo meters of the coastal area, and it has been widely recognized as an ideal destination for long weekends and life on the Adriatic Coast. That is why it is considered perfect both as an investment opportunity and for the rental of real estate. A private helipad, state-of-the-art marina, and private garage are only some of the advantages of this village, provid ing additional comfort and security. In addition to numerous parks and magical gardens, Portonovi has a rich restaurant and bar scene, offering a wide variety of local and Mediterranean dishes.

Within the village, there are boutiques and studios of local as well as renowned world designers. In addition to that, all sports enthusiasts

and those into recreational ac tivities and fitness have access to premium gyms, fitness cent ers, tennis courts, and outdoor swimming pools, as well as the Chenot Espace Wellness Center with professional staff, which will provide you with luxurious spa treatments.

Sitting at the entrance of Boka Bay - protected by UNESCO, Portonovi Marina is at the perfect loca tion, allowing you to easily explore the stunningly beautiful Adriatic and Mediterranean coast.

The Boka Bay, the southernmost fiord in Europe is often described as one of the most beautiful bays in the world. The high mountains, ris ing from the shore, make it unique and protect the bay from the open sea and cold climates in winter. This area, full of hidden seaside coves and old villages surrounding it, is sheltered by huge limestone peaks and ideal for everyone with an adventurous spirit.

All residencies in Portonovi village available for purchase or rent were designed by world-renowned architects, using natural materials and the Mediterranean style, putting them among the most wanted homes on the Adriatic. The offer includes the sophisticated Marina Apartments on the coast with direct access to the marina, Sky Villas with spacious penthouse apartments and private balconies in the heart of the complex, luxurious One&Only private homes inspired by the azure Montenegrin sea and emerald valleys, and Portonovi Village Residences that range from studio apartments to private villas, with a premium style, comfort, and luxury.

Sky Villas, spacious penthouse apartments located on the coast, in the very heart of the complex, are the embodiment of refined life on the Riviera. Each is a unique work of architectural art with the highest level of design, elegance, and comfort. The interior is a mix of warm and modern design, with open spaces ideal for socializing. They are also adorned with private balconies that offer a full view of the Bay of Kotor, as well as infinity pools.

Sitting at the entrance of Boka Bay - protected by UNESCO, Portonovi Marina is at the perfect location, allowing you to easily explore the stunningly beautiful Adriatic and Mediterranean coast.

The most exclusive address in Portonovi is reserved for Marina Apart ments, located next to the coast with direct access to the marina. Set in the midst of the culinary and social center, they have the perfect loca tion, ensuring the enjoyment of everything that makes this neighbor hood special, with top restaurants, cafés, bars, and shops just a few steps away.

The Village Residences are an amazing combination of the Mediter ranean, Venetian, and Montenegrin influences, forming the area with an abundance of greenery and flowers. Some of the most beautiful resi dences in the village are located here, just a few minutes away from the sea. They range from studio apartments to private villas, and a lot of indoor and outdoor space for entertainment, socializing, and relaxing, is what they all have in common.

The Village Residences are an amazing combination of the Mediterranean, Venetian, and Montenegrin influences, forming the area with an abundance of greenery and flowers. Some of the most beautiful residences in the village are located here, just a few minutes away from the sea.

UNFORGETTABLE FESTIVE EXPERIENCE

The festive season is the perfect time for vacation with your loved ones and an ideal period to escape to the sea for a couple of days and get to know the winter magic of the Mediterranean lifestyle. Hearing the sound of only one wave will be enough for your everyday problems to be taken out to the open sea so that you can indulge yourself. If you choose such an escape from reality, Portonovi will be the perfect address where you will create memories to be remembered for the rest of your life.

In December and January, Portonovi will become a real-life fairytalelike village – a place of special magic, where festive ornaments and unique play of light and music will light up winter nights. Various events for all generations, Festive Market with the best delicacy offer, and crea tive workshops for the youngest, combined with the light sea breeze will make an idyllic atmosphere - perfect for spending time with your loved ones. One of the events you must not miss is the Magic Show – Light, La ser & Music Show, a dramatic installation that will light up the night sky above the resort for five days, from December 14th to December 18th.

The entertainment program and decorations are handpicked to leave a lasting impression and attract interest. Portonovi will be the place of special magic, perfect for the end of the current and beginning of the New Year, and even the smallest details were taken into consideration.

Whether a romantic couple getaway or a multi-generational resort va cation, holiday wellness with friends, or a special treat for the kids, Por tonovi as a destination perfectly suits all types of travelers. Guests can rest this winter and experience the most wonderful time of the year with their loved ones, away from crowded places and the clamor of the city.

For more information about the upcoming events, write to events@portonovi.com.

For information about accommodation - stay@portonovi.com.

For more information about residences, write to enquiries@portonovi.com.

entertainment program

decorations

handpicked

leave a lasting impression and attract interest. Portonovi will be the place of special magic, perfect for the end of the current and beginning of the New Year, and even the smallest details were taken into consideration.

The

and

are

to

In December and January, Portonovi will become a real-life fairytale-like village –a place of special magic, where festive ornaments and unique play of light and music will light up winter nights. Various events for all generations, Festive Market with the best delicacy offer, and creative workshops for the youngest, combined with the light sea breeze will make an idyllic atmosphere - perfect for spending time with your loved ones.

Sky Villas, spacious penthouse apartments located on the coast, in the very heart of the complex, are the embodiment of refined life on the Riviera. Each is a unique work of architectural art with the highest level of design, elegance, and comfort.

238-berth high-end

CONTACT US

marina

DISCOVER VICTOR

JUST SO WE’RE CLEAR

You know the operator you’re going to be flying with, at the point of quotation

You know every detail of each aircraft including fuel burn, fuel efficiency and total carbon emissions You know our commitment to climate action –offsetting every flight by 200% as standard and now offering Neste MY Sustainable Aviation Fuel™ for every booking

You know we publish our independently audited total flight emissions and carbon offset investment More transparency, more peace of mind A better way to fly

Total CO2 emissions = 27,901 tonnes from 3,622 flights CO2 emissions offset = 215% of total emitted Offsets purchased and retired = 60,128 carbon credits via Vertis Total investment in climate action = 2.5% of Gross Profit

THE SHINING STARS OF CROATIAN TOURISM WHO LED THE WAY IN 2022

BY GUEST WRITER FOR THE COLLECTION, MARIJA CRNJAK

Courtesy of Tourist Board of Rovinj-Rovigno

Another successful tour ist season is behind Croa tia, in which the minuses caused by the covid pan demic were almost com pletely erased. The tradition of awarding prizes to the best ones, which was taking place in October for years, continued at the event Days of Croatian Tourism, organized by the Ministry of Tourism, the Croatian Tourist Community, the Croatian Chamber of Economy and Croatian Radio and Television. It is an opportunity to gather the major players of the tourism sector after the season and also start discussions on the preparation for the next tourist year.

On the closing night of the award ceremony, the city of Rovinj was pronounced the tourism champion in 2022. The prize for cultural attraction of the year was awarded to Arsen House of Art from Šibenik and the Providur's Palace from Zadar, and for natural attraction to the public institution Velebit Nature Park. The so-called RetrOpatija was proclaimed the event of the year, Grand Park Rovinj the hotel of the year, Istra Premium Funtana the campsite of the year, and Zoi from Split the restaurant of the year, while ACI Dubrovnik was proclaimed the marina of the year and Adriatic DMC Dubrovnik the travel agency of the year. The Anton Štifanić Annual Award went to Arsen Ercegović from the Croatian Association of Private Shipowners and Vladimir Bakić, longtime director of the Dubrovnik-Neretva County Trade Union and the Association of Croatian Travel Agencies (UHPA). The Croatian tourism award for lifetime achievement was given to Dane Slamić from the hotel in Tisno, and posthumously to Franko Lukež, a gastronome and som melier, and awards for sustainability were also given to Valamar Riviera and the National Association of Small Hotels.

"Another very successful tourist season which was diligently prepared by all Croatian tourism workers is behind Croatia. It is the people, along

with our beautiful nature, des tinations and resources, that is the most valuable asset we have. For this reason, we traditionally award Croatian tourism awards so as to give recognition to our valuable tourism employees and institutions and thank them in a symbolic way for their exception al contribution to achieving the goals of Croatian tourism. Such recognitions, in addition to gratitude, also aim to give an additional mo tive for the implementation of all future activities," The Collection direc tor of HTZ, Kristjan Staničić explained.

In this issue of our magazine, we present some of the award winners, whom we asked what this award meant for their business and position on the market.

DESTINATION OF THE YEAR – CITY OF ROVINJ

This year, Rovinj has achieved five per cent more overnight stays com pared to the same period in 2019, whereby the number of overnight stays increased mainly in the pre-season and post-season, i.e. in the pe riods of the year when the main backbone of the tourist offer is differ entiated tourism products such as congress tourism, wellbeing offers, gastronomic tourism and sports or outdoor tourism.

"The fact that Rovinj was proclaimed the destination of the year at the Days of Croatian Tourism in 2022 is a sign that, in terms of the develop ment of the tourist offer, we are on the right track. We are developing the destination on potentials such as indigenousness, art and tradition, cultural heritage, and the tourist offer is adapted to the demands of the modern tourist in accordance with sustainable development and cur rent trends. All of these are factors that encourage further development according to the guidelines of the new Strategic Plan for the develop ment of tourism in the City of Rovinj-Rovigno for the period until 2030, whose development principles are the limitation of quantitative growth, sustainable development, prolongation of the tourist season with the aim of efficiently meeting the needs of tourists and improving the qual

Grand Park Hotel Rovinj is located in one of the most beautiful locations on the Adriatic, in front of the marina with a view of Rovinj's old town centre and in the vicinity of the hundred-year-old park-forest Zlatni rt and Mulini Beach.

Restaurant ZOI, Split

ity of life for the city residents," they said in the Tourist Community of Rovinj.

TOURIST AGENCY OF THE YEARADRIATIC DMC AGENCY

Adriatic DMC is specialized in group tours, ordered tours, land tours, cruises, MICE programs and logistical support in Croatia, Slovenia, Montenegro, Bosnia and Herzegovina, Albania, Serbia and North Mac edonia. Adriatic DMC is the holder of the Travelife Certificate and is also a member of "The World's Leading Ground Operators and Ensem ble Travel Group". The company was founded by Srđan Krištić, Periša Boko and Ivan Gavranić in 2013.

This Dubrovnik agency played a key role in resuming travel after the outbreak of the pandemic, working closely with the world's lead ing cruise companies and local and national authorities to facilitate the movement of ships on round trips along the Croatian coast of the Adriatic. Adriatic DMC's operations continued this summer at the prepandemic level and an excellent year 2023 is predicted.

"I am extremely proud of my team and the quality of service we were able to deliver to our partners in these challenging times, and thus win this award." Our commitment to organizing high-quality and authentic experiences for our guests has been recognised, as well as our commit ment to sustainable business in all locations and social communities in which we operate," Srđan Krištić, director of Adriatic DMC said.

RESTAURANT OF THE YEAR – ZOI SPLIT

ZOI restaurant is located on the Split Riva, a place of exceptional his torical and cultural heritage, on the southern wall of Diocletian's palace, near the location of the Emperor's former chambers. The emperor's din ing room used to be located right next to the restaurant, which gives this place a special energy. The history of Split is the cornerstone from which the idea of this creative restaurant emerged.

Since its opening in 2017, the ZOI restaurant in Split has won numer ous awards, and this year alone the ZOI team has received several inter national and domestic awards, including Michelin plate, Galut&Millau, Falstaff, TripAdvisor Travelers Choice, 100 leading Croatian restaurants

Since its opening in 2017, the ZOI restaurant in Split has won numerous awards, and this year alone the ZOI team has received several international and domestic awards, including Michelin plate, Galut&Millau, Falstaff, TripAdvisor Travelers Choice, 100 leading Croatian restaurants - Restaurant Croatica, THA award and now and finally the award for the best restaurant of the year at the Days of Croatian Tourism.

- Restaurant Croatica, THA award and now and finally the award for the best restaurant of the year at the Days of Croatian Tourism.

"This award is a wind in the sails of our team, proof of excellence, effort and creativity in all aspects of the business. We believe that atten tion to detail is what leads us to offer an interesting, high-quality and unique gastronomic experiences every year. This attention to detail is something that characterizes our entire team. In the kitchen, we work passionately on finding top-quality ingredients, a special taste or spice, new technology and a unique presentation of each dish. In the service department, we are constantly working on efficient and more pleasant service and a top-quality offer. Every detail in the space is important, and the communication of the entire team is the key to how we find ways to develop," Andrea Tavolacci, director of the ZOI restaurant em phasizes.

HOTEL OF THE YEAR – GRAND PARK HOTEL

Grand Park Hotel Rovinj, opened shortly before the pandemic in 2019, operates as part of the Maistra Rovinj Adris Group. The hotel is located in one of the most beautiful locations on the Adriatic, in front of the marina with a view of Rovinj's old town centre and in the vicinity of the hundred-year-old park-forest Zlatni rt and Mulini Beach. Guests have at their disposal 198 rooms, 11 suites with terraces and private pools, a wellness and spa area of 3,800 square meters, seven restaurants and bars, some of which have been recognized by Michelin and Falstaff, congress facilities and an attractive promenade with shops. The interior of the hotel is designed by the Italian designer Piero Lissoni and the ar chitecture by studio 3LHD. The hotel is a member of the Leading Hotels of the World and Virtuosa collections.

"The award received is a recognition to all hotel employees who are committed and achieve excellent business results. Also, this is an addi tional confirmation of the justification of Adris's long-term investment in the luxury segment of tourism and persistence on the excellence of the tourism products and services. Thanks to the offer and quality of the hotel's service, Grand Park directly influences the change in the struc ture of guests of the destination and, most importantly, opens up space for prolongation of the season, which ultimately reflects on the total rev enue of the destination. It also significantly contributes to the develop

Art Kino Arsen, Šibenik

ment of the local community, as this investment has created more than a hundred new jobs and as much as 70 percent of all suppliers are from the region," Maistra points out.

Through its offer, the hotel also strives to preserve the existing cultural and natural heritage. It is interesting that upon arrival, guests receive something like a travel diary which is a guide through the stories of Rovinj and a collection of memories in one place. All outlets have names that are connected with the historical locations of the destination or his torically interesting facts – Tabakina, Cissa bar, Viva Eufemia, Albaro wellness&spa. The hotel's unique selling points include the restaurants Agli Amici with one Michelin star and Cap Aureo, which has a recom mendation, a sunbathing area with a 50-meter swimming pool, a multipurpose conference hall with a glass wall of 15x3.2 meters, which is like a framed postcard of the centre of Rovinj, Rovinj Signature Suite with a sea view of 175 square meters in size with a walk-in wardrobe, a large living room with a relaxation area, a private garage, a spacious balcony with sunbeds and a small private pool.

CAMP OF THE YEAR - ISTRIA PREMIUM CAMPING RESORT

Istria Premium Camping Resort by Valamar offers a rich selection of luxury accommodations, from modern plots by the sea and modern camping homes to glamping tents and stylish camping villas with swim ming pools. In the last five years, Valamar Riviera invested more than HRK 500 million in Istra Premium Camping Resort, which, in addition to accommodation at the 5* level and the highest level of service qual ity, enabled guests to enjoy out-of-the-box facilities such as a premium family water park, attractive beaches, modernly equipped rooms for play and entertainment, children's playrooms, sports zone V Sport and charming restaurants, bars and shops.

In Valamar, they point out that this is not the only recognition for Istra Premium Camping Resort by Valamar this year. It is one of as many as five Valamar campsites that have received the recognition ADAC Super platz 2022, awarded by ADAC camping guides in collaboration with the camping portal PiNCAMP. In addition, at the 16th Croatian Camping Congress, 11 Valamar campsites, including Istra Premium Camping Re sort, received special recognition for quality, "Croatia`s Best Campsites 2023", awarded by the Camping Association of Croatia.

RECOGNITION FOR EXCELLENCE IN APPLYING SUSTAINABLE TOURISM PRINCIPLES - VALAMAR

Valamar is recognized as the leader in sustainable business in tourism and in Croatia, which was confirmed by the prestigious recognition of the Financial Times, which included Valamar Riviera on the list of Eu ropean climate leaders for 2022. This year, the largest Croatian tourism company also won the National Environmental Award - Green Prix in the Decarbonize the Community category. Valamar is also the first tour ism company in Croatia that integrated sustainable development into business and development management and announced sustainability goals according to the ESG framework until 2025.

"In the past period, Valamar invested 800 million euros in improv ing the quality of accommodation and services, of which, since 2015, it directed 65 million euros into sustainable and socially responsible business projects, renewable energy sources and energy efficiency, tour ist infrastructure, and numerous programs for employees, society and community support. The company plans to achieve carbon neutrality by 2025 and plans to invest 50 million euros in destinations and social performance," they emphasize in Valamar.

They mention that Valamar Amicor Green Resort, the first green eco-resort in Croatia, was opened on the island of Hvar this season, in compliance with the highest standards of green construction and energy efficiency. Amicor is unique, first of all because of its location - it is lo cated in a natural environment, then only natural materials were used for the construction of the buildings, renewable energy sources are used for electricity, water and it will be possible for every guest in the eco villa to measure the consumption of water, electricity, air quality and to have a display of the resort's CO2 footprint. Amicor is a particularly ambi tious project also because it will be the first tourist project in Croatia with a DGNB certificate, which is a certification system developed in 2009 by the German Council for Sustainable Construction. This is the only certification system that complies with EU regulations and norms and has become a benchmark for sustainability on a global level, primar ily due to a comprehensive approach to the evaluation of buildings and urban areas.

It is the only certificate that gives equal importance to the economic and ecological aspects of sustainable buildings, and it is interesting for

Amicor because it is highly valued in Germany and Austria which are important emitting markets.

MARINA OF THE YEAR –ACI MARINA DUBROVNIK

ACI Marina Dubrovnik is the ideal starting point for a complete nau tical adventure along the coast and picturesque islands. It is also one of the ACI marinas that has won many trophies and various awards. With a swimming pool and sunbed renting, tennis courts, two restau rants where live and ambient music is performed during the season, fa cilities for children, a shop, the possibility of renting electric scooters, bicycles and mopeds, massage services, several centuries-old summer house Sorkočević, top nautical services and the unique ACI Golf Range practice area - ACI marina Dubrovnik is an important link in the tourist offer of the city of Dubrovnik.

During this and last year, the water supply and drainage, electrical net work, installations and lighting were reconstructed in the marina, and a coastal wall was built which provided more than 230 meters of new shoreline for entering and hosting four to five meters long vessels. The construction of the largest service area in the southern Adriatic is also planned, as well as the reconstruction of the beautiful several centuriesold Sorkočević castle.

"All these awards are primarily the result of the joint effort and work of all ACI employees, whom I would like to congratulate. ACI, as the larg est chain of marinas in the Mediterranean, wins awards in various cat egories every year, which is confirmation to us that we are on the right path," Kristijan Pavić, President of the ACI Management Board said.

CULTURAL ATTRACTION OF THE YEAR –ARSEN HOUSE OF ART

Arsen House of Art, opened last year in the area of the former Odeon cinema, which is remembered by many generations of Šibenik residents, pays tribute to Arsen Dedić, who is the greatest ambassador of the city and its spirit. Arsen is an intimate hall that will never be able to boast of hundreds of thousands of visitors a year, simply because of its ca pacity of around a hundred visitors depending on the type of program and the hall's setup, but that is also where its uniqueness lies. During the 16 months of operation, more than 250 programs were organized there, almost from all artistic fields, from one-off programs to festivals, and hundreds of people from the area of culture from all over Croatia have already been in Arsen. Individuals, independent players from the cultural scene, cultural associations, and artistic educational institutions have also been included in the programs.

"The HTZ award for the cultural attraction of the year is particularly important to us because it means that it is recognized on a national level that the Arsen House of Art is a space that lives independently of the tourist season and as a home of all kinds of art. In a short time, since its opening in June 2021, it has become a key place where the audience and culture meet throughout the year. If you come to Šibenik in October, February or May, you will have the opportunity to come into contact with a high-quality cultural program, be it a recent Croatian independ ent film, superb jazz, classical music concert or contemporary dance, children's theatre or workshops, and in August, Arsen was transformed into a gallery. It is precisely such a diverse year-round program that is the precondition for raising cultural tourism in Šibenik to an even high er level," they point in Arsen.

Premium Camping Resort by Valamar

AWARDS

ACI marina Dubrovnik

Hotel Grand Park Rovinj

Town Rovinj

Adriatic DMC

Valamar Riviera

Restaurant ZOI

Ri er for a new experience.

ories is the association of unique luxury hotels in Croatia that encompasses carefully sele ed hotels. Ea hotel in the Stories Association offers unique experiences worth aring.

It couldn’t be closer.

The end of the year is a time when we tend to reflect and look back at our achievements. In that sense, what were the most signifi cant milestones for Casa del Mare and how will you remember 2022?

Without any exaggeration, I can say that Casa del Mare team has been really busy in 2022. With the pandemic subsid ing, it was a genuinely active year filled with events in virtually every domain of our business. Along with a positive financial yearly result, certain milestones have particu larly stood out.

We are pleased to announce that we are growing our company through new hotel contracts outside of the Kotor Bay region. Our recently es tablished management company, Casa Hospitality Management, will assume the position of a condo hotel operator as part of Wolf Condo minium, a new premium tourist complex in Kolašin. This project, our first in the northern part of Montenegro, will be a chance for us to keep implementing the highest quality hospitality standards in our country while boosting the local economy in the process.

Additionally, as part of this year's expansion plans, Casa del Mare is on its way to welcoming its first five-star luxury hotel in Budva, the tourism metropolis of Montenegro, which will open in time for the coming sum mer. In a somewhat more dynamic setting, just a few meters from the sea, this addition to the Casa del Mare family will offer a unique touristic experience and add a new note of diversity in Budva.

Another novelty of the business is its intention to expand the capaci ties of its existing premises in Kamenari by launching a new beach & restaurant concept in close proximity to our hotel Mediterraneo and its Bocasa Beach & Restaurant. Inspired by Mediterranean motives, every part of this gastronomic experience will be accompanied by excellence

and refinement.

We end the year with a special recognition. The Montenegrin Chamber of Commerce awarded me with the Award for Advance ment of Management, which is a testament to the quality of our work and inspiration to develop, make ongoing progress, and as pire to higher objectives. Casa del Mare Hotel Group cherishes this recognition highly since it demonstrates that people who influence the economic environ ment of our country have taken notice of our efforts to hone our collabo ration and leadership skills. I wish to reiterate that this is an award that I share with the entire Casa del Mare team, whose unwavering dedication, hard work, and diligence keep our business afloat.

In summation, this year was rewarding in many ways, mainly due to all the aforementioned accomplishments as well as many others that are truly too many to mention and we will remember it with fondness.

You mentioned that you established Casa Hospitality Management company this year. What are the future plans for the aforementioned business?

As a newly established company with a clear goal of generating new value in the hospitality domain, Casa Hospitality Management remains adamant about using its managerial expertise for those projects that have a long-term perspective. This is why we are cautious when select ing the right projects to engage in and work on, namely those that align

our goals, business principles, and quality standards.

When it comes to concrete plans in the pipeline, in addition to the condo hotel project in Kolašin that is well underway, we are currently working on a new project in the Kotor Bay area. We are currently ac cumulating conceptual and technical data as part of the project's early phase, and we hope to have some concrete news in that regard soon.

with

"Our plans are clear - we want to profile ourselves as a management company for hotel management, through our now well-known Casa del Mare brand, but also through Casa Hospitality Management, which manages hotels according to the white label brand principle."

Casa del Mare, Mediterraneo - Kamenari

The boutique hotel industry from the perspective of your company seems to be thriving with all the planned developments. What is the Casa del Mare Hotel Group's future trajectory?

Our plans are clear - we want to profile ourselves as a management company for hotel management, through our now well-known Casa del Mare brand, but also through Casa Hospitality Management, which manages hotels according to the white label brand principle.

In addition to the above-mentioned projects, we are also planning to open our first boutique hotels on Croatian and Albanian coasts, for which there are already indications and plans. We have a strong desire and commitment to introduce our Casa del Mare brand to travelers outside the borders of Montenegro. This may come off as being unduly ambitious, but my coworkers know me as a big dreamer who hopes to see Casa del Mare grow into a well-known hotel chain with locations all over the Mediterranean.

Fostering talent through different educational and internship pro grams in the field of tourism and hospitality is also something that we will continue to do and encourage in the time to come. As a company that gathers different stakeholders and is actively collaborating with very versatile businesses, we remain determined to continue serving as a plat form for the growth of smaller local companies in order to create a more economically stimulating environment.

Casa del Mare is frequently described as being all about and for the community. In that regard, what actions have you taken so far or do you intend to, in order to ensure that your local community benefits from your business?

In our business, the interest of the community is always at the fore front. Whenever we consider the different ways in which we can support and influence positive change in our environment, we make sure to lis ten to the needs of the community and act in their best interest. During the last 13 years, we tried to provide tangible support to different causes and serve as a forum for exchanging ideas and experiences. This year was no different. One of the projects that we launched was Artists in Casa, a residential program for established artists from Montenegro, in

order to give praise to and recognize those in our society who, through their creative work and unique expression, contribute and further en rich our cultural heritage. Our company's core value is social respon sibility and this is just one of many projects we are working on in that vein. We also regularly help our local community by hosting fundraising and donation events where we bring together our brand’s partners and friends and collect resources—both monetary and non-monetary—to be given to people in need. Giving back to the community and nurturing its development will continue to be our priority in the future.

T: +382 (0) 69 700 702 W: casadelmare.me

“We end the year with a special recognition. The Montenegrin Chamber of Commerce awarded me with the Award for Advancement of Management, which is a testament to the quality of our work and inspiration to develop, make ongoing progress, and aspire to higher objectives. Casa del Mare Hotel Group cherishes this recognition highly since it demonstrates that people who influence the economic environment of our country have taken notice of our efforts to hone our collaboration and leadership skills.”

Casa del Mare, MediterraneoKamenari

Wolf Condominium, Kolašin

Wolf Condominium, Kolašin

Bocasa, Beach & RestaurantKamenari

Photo © Hrvoje Serdar - HTZ

LUŠTICA BAY: A PLACE TO BELONG

Set on Montenegro’s spec tacular sun-drenched coast line, Luštica Bay is the coun try’s premier new seaside address. A cosmopolitan new town in the making, Luštica Bay is attracting attention and visi tors. Over 300 homeowners from 46 different nations have al ready moved in, making it a truly global community.

The five-star The Chedi Hotel attracts guests from around the world, as does the exclusive marina for yachts and sailboats. The highcalibre restaurants and boutiques along the marina’s promenade have garnered positive reviews and a loyal clientele of residents and locals from Kotor, Tivat, and beyond. Many of the restaurants and shops are owned by entrepreneurial residents, living their Mediterranean dream.

THE GREAT OUTDOORS… A HOLISTIC LIFESTYLE

‘A place to belong’ is more than a slogan, it’s a mantra for this truly vibrant community. The Mediterranean lifestyle is perfectly in harmony with nature, from outdoor yoga and tennis to walks along the winding coast. The Luštica peninsula is a peaceful place of breath-taking natural beauty. This is the real Montenegro, where locals live in harmony with each season. Luštica Bay residents enjoy an extraordinary quality of life, from the stunning beaches and hillside pools to the simple pleasure of watching the sun set over the sea from your home’s private terrace. The lifestyle incorporates a healthy approach, a positive sense of wellbeing and mindful relaxation.

The inviting atmosphere brings neighbours together for food festivals and fashion runways, music concerts and art exhibitions, volleyball, bocce, and exciting sailing regattas.

MARINA VILLAGE

This inviting neighbourhood enchants visitors with its lively Riviera ambience, tempting wa terfront restaurants, beautiful beaches, and spectacular hillside homes. Poised at the water’s edge, the Marina Village embraces the Mediterranean lifestyle. This highly desir able neighbourhood is almost complete, and the much-anticipated final addition features handsome apartments, townhouses and villas tucked into the secluded hills. This is exclusive seaside living, with spectacular terraces and panoramic views of the sea and marina. It’s the best of both worlds – a peaceful haven that’s still just a stone’s throw from the bus tling waterfront promenade and beaches.

The marina’s promenade is fringed with seductive restaurants, all with tempting menus and breath-taking views of the distinctive lighthouse and the sparkling sea beyond. The glamorous terraces are ideal for al fresco brunches, dinner, or cocktails. Inspired by Montenegro’s striking landscapes and the nostalgic charm of a traditional fishing village, the Marina Village and its homes are designed to evoke a strong connection with nature and history.

The elegant buildings offer the best of contemporary luxury, with ech oes of authentic Montenegro, thanks to indigenous Luštica stone façades in earthy hues. The natural textures and colours add a rich sense of place, infused with history and heritage. The native greenery and lush land scaping around the large community pools add to the Mediterranean ambience.

Open-plan living chimes beautifully with the indoor-outdoor lifestyle. The stylish home interiors feature beautiful kitchens and living spaces that open onto sea-facing balconies and spacious terraces. The ambience is relaxed and utterly comfortable, with a focus on the sea views and a calm and connected pace of life.

The Luštica peninsula is a peaceful place of breath-taking natural beauty. This is the real Montenegro, where locals live in harmony with each season.

CENTRALE PIAZZA

Centrale Piazza Inspired by historic Mediterranean plazas and squares, the inviting Piazza (opening Spring 2023) will draw in residents and guests with mag netic events, a sports village, lively shops, eateries and more. Luštica Bay Centrale is designed to be a thriving destination to live, work and play year-round. This lively hilltop neighbourhood will connect all the Luštica Bay districts.

Many people are taking advantage of remote working to head for warmer climes for months at a time. A seaside homestay with a grand terrace overlooking the sparkling sea is surely a more inspiring setting than your home office – or a grisly commute. With studios to three-bedroom residences on offer, individuals, couples, and even entire families are deciding to relocate for a season.

Surrounded by lush green parks and playgrounds, the new Centrale Piazza will feature Montenegrin architecture and a distinctly convivial atmosphere. The Piazza will be home to some of the town’s most ambi tious projects, such as the upcoming sports village. Residents, locals, and guests will gather for conversation, music, and culture. The local shops and home-grown produce will delight visitors, while the restau rants promise unrivalled gastronomic adventure. The relaxed bars with outdoor terraces will bring people together in distinctly European style. This is high calibre placemaking, a beautiful space carefully designed to enhance life through meaningful experiences shared with family and friends.

WHEN A HOLIDAY FEELS LIKE HOME

Now, visitors can dip a toe into the irresistible coastal lifestyle at Luštica Bay, thanks to our rental programme. Book a short break, sunny holiday or spend the entire winter bathed in glorious sunshine. A sea side holiday treats your eyes to blissfully blue skies and a naturally beau tiful environment, a welcome break from relentless grey weather back home. Even breathing feels different here, with the slower pace and the open-air lifestyle.

Many people are taking advantage of remote working to head for warmer climes for months at a time. A seaside homestay with a grand terrace overlooking the sparkling sea is surely a more inspiring setting than your home office or a grisly commute. With studios to three-bed

room residences on offer, individu als, couples, and even entire families are deciding to relocate for a season. Enjoy the superior standards of ho tel accommodation, plus the ameni ties all Luštica Bay residents have access to private beaches, outdoor pools and sports courts, plus golf cart transportation, Kids Club and a warm welcome to community activi ties. The homeowner discount even extends to renters, with savings up to 25% at promenade shops and restaurants.

Many visitors take the opportunity of a holiday at Luštica Bay to test the waters (figuratively and literally) before investing in a home here. The effortless seaside living, and year-round community feel can inspire you to consider an entirely new approach to life, with more time for what’s really important.

BREATHTAKING MEALS AND SCINTILLATING SHOPS

You’ll find some of Montenegro’s top restaurants and most intrigu ing boutiques dotted along the seaside promenade of the Marina Vil lage, with a picture-perfect background of sailboats and the azure sea. Adventurous dining is part of life at Luštica Bay, where you can tempt your tastebuds with fresh local fish, scallops and oysters, sophisticated cuisine, zesty Mediterranean flavours or classic Italian pasta and pizza.

The Lighthouse is a charming family-run restaurant at the base of the picture-postcard lighthouse. Soak up the 360° views as you sip a fruity cocktail and tuck into light bites or a tasty meal at the water’s edge. The Spot at the five-star The Chedi Luštica Bay is a stylish all-day brasserie that spills out onto a welcoming terrace along the promenade. The Spot is ideal for an alfresco lunch or sunset drinks blended by expert mixolo gists. On the menu… a fusion of fine international cuisine and the best of authentic Montenegrin gastronomy. Expect a warm welcome at Kiki’s, where friends gather for cocktails and dinner on the expansive terrace.

The fresh Italian and Mediterranean dishes often include a dash of Egyp tian flavour, such as grilled seafood served with a fresh tabbouleh. Tuck into tasty tapas at Ciccio’s Tapas Bar & Concept Store, a charming ter race where you can soak up the view while sipping a refreshing beer (or two). Local hotspot, 21 Restaurant is known for its sea-to-table menu of fresh fish, oysters, scallops, giant tiger prawns and zesty ceviche and it’s convivial terrace. Villa Cesare is an authentic trattoria, serving up rustic Italian dishes, plus classic pizzas. If you have a sweet tooth, head to Ciao Bella Gelateria for cakes, donuts, waffles, and gelato in a range of inventive flavours. In addition to food, drinks and people-watching, the promenade provides ample opportunities for retail therapy – for the whole family.

For artisanal baked goods, head to Pekara Davidović a family-run bakery serving tempting croissants, doughnuts, pastries, fresh bread and Balkan burek, a cherished local delicacy packed with sweet or savoury flavours.

Ivana Ma London is a treasure-trove of fashion and homeware, from kaftans and dresses to custom-made furniture. Surrounded by beaches and pools, you’ll find the attractive beachwear from Boutique Mood 7Hills most welcome. In the Bogner Luštica Bay store look out for clas sic polo shirts, down-filled ski jackets and smart layering options for everything from the golf course to the snowy slopes. Head to MC2 Saint Barth for exciting beachwear and swimwear for the entire family. Revel in the vibrant Caribbean colours, inspired by celebrity haven, Saint Bar thélemy. Tenero Fashion brings a wonderful collection of brands - These include Amadeo Testoni shoes and sports line, Corneliani leisure selec tion and Panicale collection for women.

Voli, one of Montenegro’s most beloved grocery brands, is now at Luštica Bay, with quality fresh produce, meat, fish and staples, plus ap petising food displays. New Montenegrin designer shop, Home Glow is a one-stop shop for striking contemporary furniture for home or patio, plus attractive accessories and artworks. Explore a world of amber nec tar at Scotch Whisky International, with a selection of 55 different whis kies, aged between 20 to 40 years. You can even invest. With a marina on the doorstep, it’s no surprise to find the Burevestnik Group here, a one-stop-shop for life at sea featuring major boating and yacht brands.

You can even pick up a car nearby at Efel Motors. After all the shopping, head to Sophie’s Beauty Salon, where relaxation is always on the menu. Enjoy pampering care for hair and body – a transformative experience.

THE BEACHES OF LUŠTICA BAY

With five beaches dotted along the coast, you can choose the one that suits your mood today, whether you fancy a private cabana and drinks service at a sophisticated beach club, family fun with adrenaline-fuelled water sports or a relaxed island vibe. The country’s dramatic rocky coastline is lined with a host of sandy or pebbled beaches fringed by lush green hills. Some of our beaches are chic and stylish, while others feel more remote and laid-back. All are astonishingly beautiful, with clean, clear water and dazzling views of the coastline and sea.

One of Montenegro’s trendiest beaches, The Almara Beach Club at tracts sophisticated sunseekers with exotic cocktails, relaxed vibes and live music. The family-friendly Marina Beach offers kayaks, paddle boards or snorkelling. The Chedi Beach is a private pebbly beach by the marina, delivering a splash of luxury at its cosmopolitan Rok Lounge. Hop on the taxi boat to be whisked off to the romantic 21 Beach Club, a secluded cove with a handsome golden-sand beach. Or venture further afield to Montenegro’s newest beach, Azzure, with powdery sand, a lively bar and on occasion, a DJ.

INVESTING IN THE FUTURE

The ambitious vision for Luštica Bay was to create a vibrant global village, thoughtfully crafted with respect to the natural environment as well as Montenegro’s authentic culture and architecture. That’s why Orascom Development Holding (ODH) and the Montenegrin government worked together to ensure a sensitive, dynamic and insightful approach, with long-term benefits for residents.

“Loyalty is a two-way street” is my favourite quote in both life and business. You must first show someone your loyalty before asking for it. To begin earning the other party’s trust, you must first have trust in them yourself, communicate openly about all the challenges, and always be honest with them about your ability to meet their requirements and when you are unable to do so."

Courtesy of WANNABE Media produkcija - wannabemedia.rs, photographer: Alek Živković

`

INTERVIEW WITH ANDREJ SOVROVIC

CLUSTER GENERAL MANAGER IHG (CROWNE PLAZA, INDIGO AND INTERCONTINENTAL HOTEL LJUBLJANA)

Recently Miloš Duletić from The Collection had the pleas ure to meet Mr Andrej Sovrović, to discuss the IHG ethos and plans for the future.

How did it all begin?

We could talk about it in terms of geography. It is a journey that began in Belgrade, and ended there, via London and Moscow. It was the most logical one for me, and it was there that I received a solid formal education and exceptional work experience. After all, Belgrade is my stronghold and that is a place where everything converges in the end. I began working for Delta Holding there, in a variety of subsidiaries and positions. I am still part of the company today, and I am thank ful for the inestimable value that the people I had the good fortune to work with and with whom I have developed my professional experience shared with me.

How and why did you transition from a very different business envi ronment to managing a hotel?

Something always needs to “happen”, and in this case, the company president suggested that I try my hand at the hotel business. My longterm thought that this was something I wanted to pursue moving ahead and where I could make my contribution was amplified by this. I consid er myself fortunate to have entered the hotel business in the year when it returned to its previous level, and I know that we can only improve in the years ahead. I believe that in order to achieve good results, you need to continuously change things up. I always strived to innovate, do things in a different way, and always broaden my experiences. One great oppor tunity for that is running a hotel business. I enjoy being here right now.

Can you introduce yourself in the way you want the readers to get to know you?

I am constantly seeking out additional knowledge. I try to learn a lot. I don't accept anything as a given, automatically and by default. In prac tice, this means that I tend to analyse things: I consider each process or specific segment, analyse it with my colleagues, and then decide. To gether we examine whether or not that choice was good. I think I have the courage to make decisions that I believe are best for the hotel, but I am willing to go back and re-evaluate those decisions to see how they affected things.

I aspire to be perceived as approachable, honest and open to hear ing different ideas and perspectives. Similar to a team captain who must take the lead while having full trust in his teammates. For me, the most important aspect of any business, especially the hotel industry, is the people.

What have you learned most in the past year since working in the hospitality sector?

This business is quite specific. Your social skills must be fully devel oped in order to be able to respond effectively to all circumstances that

emerge on a regular basis. Its uniqueness comes from the vast number of people of various profiles that you see on the same day, ranging from employees to managers to important partners to clients from quite var ied industries. In order to accomplish all of this, you must have a strong ability to concentrate and the willingness to transform yourself ener getically, intellectually, based on the topics and interests you are dealing with, while retaining your character traits, your core identity. Because I am fully aware that hotel management is a people's industry, I always try to be true to who I am, with my own character and values, but with the flexibility to adjust as best I can to individual situations and the person alities of the people I interact with.

From your perspective, how do you see the prospects for the recovery of MICE and business travel?

According to the research conducted in the hotel sector, the MICE business segment is the slowest to recover. Weekend travel and individu al arrivals have returned to the pre-pandemic levels, while the dynamics of MICE travel and business-related travel in general are lagging. We are aware that there is an increased willingness and desire among people to travel, but, unfortunately, there is also an oncoming dread of a new eco nomic crisis where businesses are resorting to new means of cost saving, which could undoubtedly have a detrimental impact on MICE. When this puzzle is put together, the conclusion indicates that there will be work, but not enough to satisfy all hotels in all cities and in the manner we desire. Belgrade is certainly at an advantage because it has good entry parameters: the distinctiveness of the offer, good capacities and good service, along with Air Serbia updated fleet, brand-new, state-of-the-art airport, and extensive flight network, all together open up the possibility of favourably positioning Belgrade as a destination that customers will choose for their stay. Due to this, the gap between European cities and Belgrade has been significantly narrowed, making this the opportune time to acquire the largest possible portion of the European MICE tour ism with competitive rates and exceptional service. Crowne Plaza is a serious player in this game, but the most opportunity is offered by the reconstruction of the Sava Centre.

If there is a formula for creating loyal customers, can you share yours?

“Loyalty is a two-way street” is my favourite quote in both life and business. You must first show someone your loyalty before asking for it. To begin earning the other party’s trust, you must first have trust in them yourself, communicate openly about all the challenges, and always be honest with them about your ability to meet their requirements and when you are unable to do so. When you do that, along with providing a high-quality product and service, you may retain the customer and es tablish a long-lasting positive relationship. There are no challenges that cannot be resolved by normal interpersonal interactions.

The staff is absolutely the key to a hotel's success. It is crucial that you have good closest associates, that you share the same vision, that you know the direction in which you want to move and what you strive to accomplish. The guiding principle of our business is a fluid system, where agents are given freedom in their work, but also great responsibil ity. They have the opportunity to voice their opinions, offer their ideas, and be informed about the reasoning behind decisions and proposals that are accepted or rejected. This ensures the necessary synergy from the hotel director to the operational departments by providing a chain of highly qualified personnel. The advantage of having a sizable number of long-tenured team members who live and grow with the hotel and are committed to that vision is shared by all the hotels in the Delta hotel portfolio. When you work with such a team, then you have a prerequi site for customer satisfaction. You have a winning formula when your business is willing to continually invest in a better product and better service.

How did you approach identifying, developing and motivating talent?

Due to high entry barriers and the perception that it is not a particu larly appealing field of employment following the crisis, the hotel indus try has been much weaker in recent years. It is up to us to demonstrate the perspective and potential of the hospitality sector. It is not easy to answer this question verbally, because it is more feeling-based. Either you recognise it when you see it or you don’t. Let's make a comparison: a coach evaluates an athlete in the same way. Talent is an inexplicable phenomenon. Although you have a sense that it exists, you can never be certain that it will always produce the outcomes you hope for from that talent. This is where your participation in the process becomes nec essary. You must invest in people, and particularly in talents. One of the most well-known world leaders explained it in a simple way. When asked why he invests so much in talents when they may ultimately leave, he asked what an alternative to that should be, “not to invest in people

and have them remain as they are?”

To be present on the market, selection must be continually improved. Finally, you must dedicate yourself to each indi vidual and work to develop them as people since you cannot realistically expect that every talent would develop into a top manager or leader. The effectiveness of that approach is largely dependent on the time and effort you put into fostering pro spective future associates.

What book, podcast or media source have you've read/lis tened to recently that has inspired you?

I am glad that now I can say, without falling into a cliché, that traveling is my passion. Since a big portion of my job now involves travel, I undoubtedly obtain inspiration and gather ideas for potential future projects when traveling in addition to the fact that I genuinely like it and fulfil my personal sources of happiness. Sports are undoubtedly a part of my personal interests as they play a significant role in my life, and I can say that I follow practically every sport. I've been listening to audio content lately, such as podcasts. Agelast and Pojačalo are two of them that I regularly listen to. I also listen to some individual podcasts, usually local ones, that attract me because of the topic or because the author is someone I want to hear. There isn't much time to sit down, pick up a book, and unwind while reading it, no matter how much I'd like to due to the pace of life, the volume of varied responsibilities, or all of them combined. Even then, the subject is frequently somehow related to work. So perhaps a true example of that I’ve just said is "The Art of Winning," a book I recently read by Nike founder Phil Knight. It is a human story combined with business narrative that serves as a practical lesson about the many challenges we face as we work toward success. It is a journey without clearly defined solutions; they might or might not materialise and there is definitely no magic wand.

A personal message for 2023 and beyond Don't be fearful of having a goal. Often, people are afraid to define their goals. I admit that there have been times when I have acted similar ly myself and have been reluctant to express some of my own ambitions and aspirations. Believe in yourself and keep in mind that different paths can lead us to our goals. They may be quick and direct, winding, predict able, or entirely surprising. It is important for you to be aware that there is always a way and to exercise patience throughout the process. And you will undoubtedly get there.

Can you share what you believe is key to running a successful hotel today?

SQUARE NINE SPA

The Square Nine Spa at Square Nine Hotel Belgrade introduces a collaboration with world famous brand Augustinus Bader for the new Method Spa Treatments and retail AB products.

Hydrate, nourish and renew your complexion with award winning high performance skincare powered by TFC8® (Trigger Factor Complex) technology which helps support the body’s innate biological wisdom to renew and regenerate itself.

Among the many beloved Augustinus Bader products for skincare, body care and haircare, those available for purchase at the Square Nine Spa shop include also the world best sellers The Cream, The Rich Cream and The Essence.

Square Nine Spa is open Monday to Friday from 07:00 am to 9:00 pm and Saturday and Sunday from 9:00 am to 9:00 pm.

Appointments can be made in advance by calling +381 11 3333 520 or email spa@squarenine.rs. Studentski Trg 9 11000 Belgrade, Serbia TEL: +381 11 33 33 500 reservations@squarenine.rs www.squarenine.rs

The Ultimate Electrified M Power

FAST PASS - Fast pass, limited daily ski pass with a limited capacity of 100 a day, allowing skiers priority pass to ski lifts without queueing

THE TOP OF JAHORINA HAS BEEN TRANSFORMED INTO BEST SNOW PARTIES AREA

You like to sip a drink and dance while music and atmos phere taking you away, while equally enjoying skiing? Why should one exclude the other? Outdoor parties, hits that make you dance in your ski boots, cheerful company, a song that makes the mountain tremble, are no longer reserved only for prestigious foreign ski resorts. You will be able to experience all that, with a view that removes all stress and extends from 1879 meters above sea level to the unreal beauty of nature, if you choose Jahorina as your ski destination this winter. Right there, in front of Olympic Bar, a large plateau has been built, which will be an open-air bar, where, along with guaranteed daytime entertainment, the famous and beloved nightlife of this Olym pic mountain also happens. The time has come for Jahorina to, along with a soft snowy garment, wear an entirely modern one, which has not yet been seen in our area.

One of the new projects of Olympic Center Jahorina is implementation of the "SnowFactory". It is the latest snowmaking system, which produces artificial snow in all weather conditions, regardless of the air temperature.

Powerful sound system, music carefully selected by a DJ, a large selection of drinks in an extremely attractive environment, is what will surely attract you to, as soon as you get off the Poljice gon dola, take a break between your rides, or relax and stay on the daily, or even the evening "after ski" party. The bar will be open until the end of the night skiing, and you will be able to have a crazy time in complete ski equipment under the starry sky until 21:00, and then the party will continue inside the Olympic Bar. Just in time, when it gets cold enough to make you want to come in and warm yourself up, and even have a snack from the rich selection of culinary delica cies prepared by the master chefs of this unusual high-altitude bar.

In addition to having a good time, do not worry about the snow on Jahorina either, there will be plenty for a long, warm winter. One of the new projects of Olympic Center Jahorina is implementation of the "SnowFactory". It is the latest snowmaking system, which pro duces artificial snow in all weather conditions, regardless of the air temperature. Be the first in the Balkans to try skiing on this type of surface, because OC Jahorina is the first on the entire peninsula to acquire this innovative snowmaking system. By using modern technology for the production of top quality artificial snow, it will be possible to produce it daily, 24 hours a day. This will supplement the traditional artificial snowmaking system in the best possible way, and skiers will be guaranteed great skiing.

ENDLESS JOY ALONG THE SLEDDING RUN ON POLJICE SLOPE

With a smile and the greatest warmth in our hearts, we all remem ber how we sledded as children, joyful and carefree, spending hours and hours outside, until we froze so much that we finally listened to our parents, already hoarse from calling, and went inside. Joyful, rosy-cheeked, every year we impatiently awaited the first snowflakes. We remembered winters for sledding, for socializing, for cheerfully running down the hill and, our less favorite but inevitable, pulling the sled to the top of the hill. And then all over again, while our body was invisibly developing and our spirit was getting stronger.

If you now have little ones, or you yourself have longed for that carefree feeling, it's time to start rejoicing, because the first sled run was built on Jahorina, which is ready to welcome the start of the winter season from 1 December. 700 meters long, enough to develop very good acceleration and wake up adrenaline and the happiness of your youngest, it will be located on slope 7, Poljice. Sledding on Jahorina will be available every day from 16:00 to 18:00, in the gold en part of the day when the sun goes behind the slope of Jahorina mountain and when the day slowly fades into night. The great news is that you won't have to pull your sled by hand, the Poljice T-bar ski lift will do it for you, which will transport you and your sled from the Poljice plateau to the start of the sledding trail, where the craziest fun begins.

A real opportunity for your youngest to love winter and sports even more through sledding, and to put aside the various types of screens for a while, to which, whether they like it or not, they devote most of their time, and, instead of those pictures, store much more beautiful ones in their memories, more alive, more colorful, filled with the smell of winter, laughter, giggling and the joy of spending time outdoors.

So, grease your sled and - see you on the trail!

With a smile and the greatest warmth in our hearts, we all remember how we sledded as children, joyful and carefree, spending hours and hours outside, until we froze so much that we finally listened to our parents, already hoarse from calling, and went inside.

Powerful sound system, music carefully selecteds by a DJ, a large selection of drinks in an extremely attractive environment, is what will surely attract you to, as soon as you get off the Poljice gondola, take a break between your rides, or relax and stay on the daily, or even the evening "after ski" party. marketing@oc-jahorina.com +387 57 270 003

Nestled in the embrace of the majestic Bjelasica mountain, in the center of Kolašin, a mere ten-minute drive from the main ski slopes and 30 minutes from the country’s main airport, lies Wolf Condominium, a contemporary tourist and apartment complex offering a unique residential and gastronomic experience. Wolf Condominium, to be opened in 2024, will include a luxury hotel, residential and business units for sale, an exclusive restaurant, a wellness and spa center, and other complementary facilities.

For more info visit us at www.wolfcondominium.me or reach out via email info@wolfcondominium.me or phone +382 67 999 888

SKI RESORTS OF MONTENEGRO

Welcome to Winter Magic

Ski Resorts of Monte negro, more precisely its Ski Centre Kolašin 1600 represents a crown jewel, the heart, and the engine of tourism development and general development in Northern Montenegro. From the moment when Ski centre Kolašin 1600 was officially put in operation until to day, we have made huge progress as a ski centre in general and as a driving force for the development of every other area in the northern and mountainous part of Montenegro.

Located in Kolašin, at one of the most beautiful mountains in the region – the Bjelasica Mountain, Ski Centre Kolašin 1600 is a per fect spot for winter lovers and those who just want to take a quick stroll along the walking areas at the site or sit back in a cosy restaurant and enjoy their cup of tea or glass of wine.

As a company that tries to get the best out of every season, we are expecting a successful winter season with a record-breaking number of guests and hopefully enough snow to fulfil all our expectations, ideas and plans.

The summer season was very busy and we made very good progress when it comes to new developments. We would like to emphasize that we upgraded our everyday offer at the Ski Centre, added plenty of new stuff in the playground for our youngest guests such as a ping pong table, piccado, table football and finally, we installed our first tubing track that was a great hit at our Ski Centre. When it comes to outdoor amenities –our brand-new additions - archery and paintball terrains were the most desired activities by both individuals and organised groups. Another brand-new addition to Ski Centre Kolašin 1600 is the ski magic carpet lift. It was installed during the previous winter season and now, aside from it, two tubing tracks are available for unforgettable moments with

our youngest visitors.

We hosted a lot of events dur ing summer, including the 3x3 Basketball Tournament, Teqball Tournament, and a concert of the very popular singer Željko Samardžić who brought new energy to our Ski Centre in the summertime.

To support this year's winter season there is a new six-seater chair lift K7 (Klisura) that was installed only in late February, so we expect to use its full capacity this season with an additional 10 km of ski trails added to the existing 10.5 km of ski trails at Ski Centre Kolašin 1600 of all difficulty levels. The starting point of the Klisura K7 chair lift is at 1450 meters above sea level and it is located at the base station of the neighbouring Ski Centre Kolašin 1450. Having that in mind, Kolašin now has one of the largest ski areas in the region – with the two ski centres connected with trails and chairlifts, there are 45 kilometres of ski trails available for non-stop skiing and boarding, which puts Montenegro on the map of serious winter sports places for adrenaline junkies!

Apart from the opening of the extremely important Klisura K7 sixseater chair lift, the standard offer of the previous season remains, but still there will be several novelties. Namely, visitors of Ski Centre Kolašin 1600 will have the opportunity to rent a snowmobile, go for a snowshoe walk by day or by night, enjoy winter hiking and touring, attend ski and snowboarding schools with high-quality equipment available for rent at the spot and practice with their instructors at the area dedicated for beginners with the ski magic carpet lift. Furthermore, daily entertain ment, competitions and music programs are scheduled, with eminent DJs from the region spinning records this year. Some music programs will be prepared especially for Ski Centre Kolašin 1600. The atmosphere at the Ski Centre will be warmed-up by different celebrations which will make the winter at the Ski Resorts of Montenegro unforgettable and put Montenegro side by side with regional mountain centres.

Kolašin now has one of the largest ski areas in the region – with the two ski centres connected with trails and chairlifts, there are 45 kilometres of ski trails available for non-stop skiing and boarding, which puts Montenegro on the map of serious winter sports places for adrenaline junkies!

At the Ski Centre, like every year, we will have several ski schools that will be providing their services. From this season, the guests of Ski Cen tre Kolašin 1600 will also have professional ski and snowboard main tenance and repair services offered. Also, the ecological aspect should not be forgotten – we have installed built-in containers for waste man agement which are integrated with the landscape. The price list for the upcoming season is already available on our website www.skijalista.me and prices have been just slightly changed in comparison to last year, but the capacity of skiing infrastructure has been significantly expanded.

We should mention here the importance and impact of the new high way during the summer season and especially the importance it has for the upcoming winter season. Just in 45 minutes of a smooth ride, you will be able to reach Ski Centre Kolašin 1600 from the capital city of Podgorica. That is a major upgrade, which means that guests can stay in Podgorica and ski in Kolašin in less than one hour of a driving distance.

As for guests, we rely on those from the region, mainly from Albania, Bosnia and Herzegovina, and Serbia, and this year we are expecting an inflow of guests from North Macedonia, Hungary, Slovenia, France, and Croatia.

This period of the year is reserved for the enthusiasts that experience winter together with us, so as it has been our tradition for years now, we have organised promo sale of season ski passes. The campaign exceeded even our most optimistic predictions and generated record-breaking revenues. Now we can guarantee with certainty that the upcoming sea son will break all records when it comes to the number of visitors and the level of satisfaction that they will take back with them once the sea son is over. The Ski Resorts of Montenegro is constantly upgrading and adding new services to its offer and it is with great pleasure that we can announce that we have established cooperation with numerous ski cen tres in the region. This cooperation allows each holder of the season ski pass of the Ski Resort of Montenegro to ski free of charge for three consecutive days at the following ski centres:

• ski centres that are part of the Ski Resorts of Serbia (Kopaonik, Tornik, Stara Planina and Brezovica),

• Olympic Centre Jahorina (Bosnia and Herzegovina),

• Ski Centre Popova Shapka (North Macedonia),

• Ski Centre Bjelašnica (Bosnia and Herzegovina), and even more to come in the following days.

Visitors of Ski Centre Kolašin 1600 will have the opportunity to rent a snowmobile, go for a snowshoe walk by day or by night, enjoy winter hiking and touring, attend ski and snowboarding schools with high-quality equipment available for rent at the spot and practice with their instructors at the area dedicated for beginners with the ski magic carpet lift.

These contracts are based on the principle of reciprocity, which means that the owners of the season ski pass from the aforementioned ski cen tres can ski free of charge for three consecutive days at the following Montenegrin ski centres: Ski Centre Kolašin 1600, Savin Kuk and Vučje.

We have expanded our parking capacities and Ski Centre Kolašin 1600 is welcoming visitors with 500 parking spaces in total. In addition, in cooperation with the Local Tourism Organisation of Kolašin and the Municipality of Kolašin, we are planning to organise shuttle buses which will be operating several times during the day, so that guests can com mute from the town centre of Kolašin to both ski centres (Kolašin 1600 and Kolašin 1450) and back and leave their vehicle at the place where they are staying and forget about traffic jams.

When it comes to the points of sale of ski passes, we have upgrad ed our IT system, so aside from the additional point of sale at our Ski Centre Kolašin 1600, we will add one point in the centre of the town of Kolašin and some more throughout Montenegro. Customer satisfaction is of crucial importance for us, so we are constantly improving every aspect of their experience at the Ski Resorts of Montenegro. We did not forget an important practice in worldwide ski centres: online purchase of ski passes and we are working very actively to have it available as soon as possible.

Another area will be freshened-up - we will be introducing a shop corner – a sales area where it will be possible to buy souvenirs and other items referring to our Ski Centre, as well as local homemade products. We are striving to create an all-around shop with numerous and diverse products, and the design for some of the products has been created by our youngest visitors during a creative workshop this summer.

A few days ago, the Halal Standard started to be implemented at the Ski Centre Kolašin 1600 restaurant Troglava, which will be important for many visitors who apply these standards for religious or health reasons.

With everything that has been said, we can conclude that Ski Resorts of Montenegro is fully prepared and is expecting the coming winter sea son in great spirit and hopefully, we will show why Ski Centre Kolašin 1600 is the epicentre of great skiing activities and top-notch entertain ment programs.

Welcome to Kolašin and welcome to Ski Centre Kolašin 1600!

Customer satisfaction is of crucial importance for us, so we are constantly improving every aspect of their experience at the Ski Resorts of Montenegro. We did not forget an important practice in worldwide ski centres: online purchase of ski passes and we are working very actively to have it available as soon as possible.

To support this year's winter season there is a new six-seater chair lift K7 (Klisura) that was installed only in late February, so we expect to use its full capacity this season with an additional 10 km of ski trails added to the existing 10.5 km of ski trails at Ski Centre Kolašin 1600 of all difficulty levels.

THREE MOUNTAINS SERBIA'S COUNTLESS SKI POSSIBILITIES

We live in a time when everything happens so fast that it often seems that we don't even have a moment for our selves and our loved ones. Then there is that moment when we imagine ourselves on a comfortable couch, next to the fireplace with a cup of hot chocolate, watching the snow falling. At that very second, we realize that the time has come to plan our winter vacation and choose that ideal place, which will satisfy all our desires and senses.

When we think of winter and snow, Kopaonik somehow logi cally comes to our mind, because it is the best synonym that combines all those activities that can nourish both soul and body. The recognizable symbol of Serbia, as a trademark of Serbian tourism, it at tracts tourists from all over the world and they always return, year after year. Definitely the most modern and attractive ski center in this part of Europe, it offers more than 60 kilometers of ideal ski runs for enjoying the mountain areas. Passionate skiers can be absolutely sure that Silver Mountain will provide them with an incredible pleasure, and if you want to feel the snowy charms of this place, night skiing will be an absolute hit.

The first cable car was built on Kopaonik back in 1981, when it was recognized as an international ski center. Since then, its accelerated de

velopment has started, to reach its incredible splendor today. This is ex actly why all the most important winter events are organized right there. Although the activities on the snow are very important for maintaining a healthy body and cheerful spirit, Kopaonik offers a wide range of other enjoyable activities and entertainments. Adrenaline activities, sightsee ing of the mountain by gondola or taxi, night skiing and sledding and an unforgettable nightlife afterterwards will once again show why we always return to this snowy beauty.

When we mention enjoying nature and fresh air, we cannot miss to mention Zlatibor and Tornik as one of the most beautiful places in Western Serbia. The combination of mountain and Mediterranean cli mate make this place a real paradise for those who want to enjoy fresh mountain air. Coupled with superb ski runs, it's an ideal destination to recharge your batteries for the rest of the year. The Tornik ski resort can boast of one of the most difficult ski runs in Serbia that can only be mas tered by the most experienced skiers. Others should not be scared since there are slopes and places for the less brave and less experienced, as well as for those who want to enjoy the view of the pine trees after which Zlatibor has got its name (Zlatibor – golden pine tree).

Our little tour through Serbia does not end there, because in the place where the Sun rises, in the very east of the country, there is an un touched treasure - Stara planina. A place where nature embraces a man and provides an indescribable feeling of happiness and well-being. This

Stara planina, a place where nature embraces a man and provides an indescribable feeling of happiness and well-being. This mountain offers countless possibilities to mountain lovers. If your passion is hiking, skiing or simply enjoying the view, then you have chosen the right destination.

mountain offers countless possibilities to mountain lovers. If your pas sion is hiking, skiing or simply enjoying the view, then you have chosen the right destination. On more than 13 kilometres of ski runs, there is one of the most modern ski resorts, which is equipped with top-quality installations for complete enjoyment of every snowboarder and skier. After your favourite sport, you can enjoy beautiful sunsets with mulled wine at the most beautiful viewpoints on the mountain.

Just so we don't forget to mention the most important thing, which is that snow is not your concern, because in our mountains, thanks to the most modern snowmaking machines, there is always snow at all times!

And finally, a little advice. Whichever of these three beauties you choose, you won't make a mistake, because all three are real jewels of Serbia. Oases of tranquillity, fresh air, beautiful nature, delicious food, magical landscapes... On the other hand, they are full of social activities and rich nightlife for those who are looking for that, which is why they are said to fulfil everyone's wishes.

Now, back to the beginning... snow, hot chocolate, a fireplace and a beautiful, magical mountain... what are you waiting for?

skijalistasrbije.rs

When we mention enjoying nature and fresh air, we cannot miss to mention Zlatibor and Tornik as one of the most beautiful places in Western Serbia. The combination of mountain and Mediterranean climate make this place a real paradise for those who want to enjoy fresh mountain air.

Kopaonik offers a wide range of other enjoyable activities and entertainments.

Adrenaline activities, sightseeing of the mountain by gondola or taxi, night skiing and sledding and an unforgettable nightlife afterterwards will once again show why we always return to this snowy beauty.

In The Heart Of The Igman Mountain

Hotel Monti

Discover the beauty of unspoiled nature, magnificent landscapes and endless relaxation at the majestic Igman Mountain – the Olympic Mountain. In a breathtaking mountain setting, you can recharge and relax while being close to nature.

Wellness / Spa

GRAND RESIDENCE REDEFINING THE LUXURY OF LIVING

THE MOST LUXURIOUS ADDRESS AT THE APEX OF SERBIA

Located in the very center of the exciting and majestic mountain Kopaonik, Grand Residences offer you the opportunity to call this wonderful place your exclusive second home.

Grand Residences enable you to enjoy the fine balance between a so phisticated life and one of leisurely relaxation in the authentic ambient only a large mountain can offer.

Located at the prestigious location 1,770m above sea level, in the cent er of all activities, yet secluded, it offers intimacy and privacy – an area that you have for your self-indulgence.

AN UNPARALLELED ELEGANCE

With its 40 completely furnished apartments, Grand Residences justi fies its name through the contemporary and sophisticated design of its interiors, and the overall impression, of unparalleled elegance, style, and comfort. There are 11 different types of apartments for you to choose from – from the more intimate 31m2 ones to the large 250m2 ones.

Grand Residences elevates your expectations of luxury to a new level. Everything you knew so far is taken by storm, motivated by just one clear idea in our minds: to leave you breathless.

Inspired by traditional mountain chalets, these luxury residences fea ture warm and natural tones, with all-natural details and finishes – pre mium materials such as full wood and stone wall and floor panels. The interior details were selected with special attention, featuring pieces that ooze with style and a sense of comfort.

RELAX IN YOUR LUXURIOUS COMFORT ZONE

Grand Residences continues the heritage of the Grand Kopaonik Hotel, which has been the most rec ognizable symbol of the mountain for the last 40 years. In addition to your luxurious apartment, all the benefits of the Grand Kopaonik Hotel are at your disposal, as well as the option to enjoy the special offers of your residential block in peace - such as a Spa & Wellness center with an indoor swimming pool, a gym, a restaurant within the Grand Residenc es wing, your own reception, your own ski depo and a private garage.

Authentic experiences and endless natural beauty surround you, as you bask in the comfort of your new trophy on this magical mountain.

Authentic experiences and endless natural beauty surround you, as you bask in the comfort of your new trophy on this magical mountain.

EVERYTHING AT YOUR DISPOSAL

Life is a lot simpler when you know you have reliable support, in each and every moment. That is why a whole array of additional services, both common and unique, from our à la carte offers awaits. Everything from the maintenance of your apartment to the unique fine dining expe rience is at your disposal, at the exact moment when you want it.

Exceptional benefits for apartment owners available at Grand Resi dences and the Grand Kopaonik Hotel. Find yourself in the luxurious world of enjoying the most beautiful Spa & wellness center on Kopaonik, which is known for its outdoor pool where swimming under the open winter sky is a special experience, unique fine dining experiences in the Bacco restaurant, feel a true mountain atmosphere of Garden gastro bar, children’s animation in the Kids club, which promises parents vacation in the truest sense of the word, unsurpassed concierge service for all your needs and desires, enjoyment on the most beautiful terrace and lounge with a fireplace, rooms for business meetings...and much more that makes "Life at the top" more exciting.

THE RELIABLE PARTNER

We have invested all of our knowledge, the experience gained from the most exclusive destinations within the region, and the premium experi ence for our guests into Grand Residences.

We continuously raise the standards in the fields of tourism and real estate. Our portfolio encompasses 15 hotels in majority and minority ownership in Serbia, Slovenia, Croatia and Montenegro, Portorož Air port and golf courts in Savudrija. We’re especially proud of our collabo ration with world-renowned hotel brands like Kempinski, Marriott In ternational and Sheraton.

The care with which we approach locations and the needs of people has elevated us beyond developing the hotel business – we create and develop destinations themselves.

THE MAGIC OF THE SILVER MOUNTAIN Kopaonik, known as the Silver mountain, is among the highest moun tains in Serbia. Offering many opportunities for vacation, relaxing, rec reational activities, and an all-around good time. Its authentic charm wins you over and its hospitality is hard to resist. The only thing you’re really missing is your own space on the rooftop of Serbia – Kopaonik.

The center of Kopaonik exuberates with vibrant energy from the cafes, restaurants, and stores, offering both fun and cultural things to do, all of which are located just a few minutes from your apartment.

Kopaonik offers both a peaceful oasis and an exciting adventure. Don’t miss the unique chance to experience magical winter nights and the warmth of the mountain atmosphere. Step into the wonder of the many bars, clubs and restaurants Kopaonik has to offer. This mountain also wins overall lovers of nature during the summer months too – when the endless pathways, forest roads, and bicycle routes call on you to con quer its peaks. Hiking, biking, quad bike riding, alpine climbing, and paragliding, amongst many other activities, are all available for an active vacation and enjoying untouched nature.

ACHIEVE YOUR GRAND STATUS

Grand Residences info office +381(0)11 3539539 e-mail: sales@grandresidences.rs grandresidences@mkresort.com

Last year, right before the opening of the winter season, Grand Hotel Kopaonik shone in a completely new light, thanks to an investment worth more than 30 million euros. At the time, the owner company MK Group announced a new, extremely valuable venture - Grand Residences. It is a new, luxuriously equipped wing with 40 premium furnished apartments, its own reception, spa center, garage, a la carte restaurant, concierge service, and ski room at the very exit to the ski slopes, available to residents.

"The real estate projects of MK Group differ from other projects as they combine decades-long expertise in the field of tourism with significant investments in real estate. In this way, we offer the market a completely new concept, that is, the feeling of home in a prestigious hotel environment. The value of this investment is over 15 million euros, which puts this residential block with 40 apartments at the very top of luxurious mountain escapes. Grand Residence absolutely lives up to its name with its luxurious and sophisticated design, high-quality service, and its additional amenities that combine the best of apartment and hotel facilities.",

Aleksandra Stojanović, Investment Director and Corporate Affairs Director at MK Group

Continuously nurturing the tradition of an exceptional hotelier, Grand Kopaonik has been a synonym for exclusivity and top quality for four decades. Dedicated to constant improvement in the domain of luxury hotel service, it continues to push the boundaries of domestic and regional mountain tourism, this time in the spirit of personalized service, topquality facilities, and premium services specially designed for the needs of the new residential wing and its users.

HEAVENLY BEAUTY. HELLISHLY GOOD.

The sky above, the earth below, and peace within.

Surpassing limits, taking in new horizons, savouring the feeling of boundless freedom: That’s never been easier than at Alpin Panorama Hotel Hubertus in Olang. The family-run hotel at the heart of the Dolo mites has been pushing the boundaries for years – in terms of both hospitality and architecture. From May, Hubertus will shine with a new architectural master piece, which – like its spectacular Sky Pool – floats between sky and earth: Heaven & Hell, the elegant platform that is turning wellness upside down – quite literally.

New 2022: SkySpa Heaven & Hell Alpin Panorama Hotel Hubertus / Dolomites - Italy /

DEČIJE SLABOVIDOSTI

Stručnjaci oftalmolozi na svetskom nivou prepoznali su sjajne rezultate specijalne bolnice SVETI VID postignute laserskom korekcijom dioptrije, kod predškolske dece sa slabovidošću, što nije moglo biti korigovano naočarima i kontaktnim sočivima, te joj dodelili PRVU NAGRADU.

SVETI VID se nametnuo kao autoritet i lider koji je u oftalmologiji širom sveta dao svoj doprinos u lečenju svih očnih bolesti kod odraslih, a posebno u nežnoj dečjoj dobi kod mališana.

FIRST AWARD IN EUROPE FOR TREATING AMBLYOPIA IN CHILDREN

Most eminent world ophthalmologists have recognized outstanding results of special hospital SVETI VID achieved with laser correction of diopter, in pre-school children with amblyopia, which could not have been corrected with spectacles or contact lenses. SVETI VID was awarded with FIRST PRIZE in Europe for this type of surgery.

SVETI VID is a leader and authority which gave its contribution to ophthalmolgy world wide, in treating all kinds of ophthalmological impairments in adults, and especially in sensitive children age.

PRVA NAGRADA IZ EVROPE ZA LEČENJE

VRHUNSKA OFTALMOLOGIJA U SVETOM VIDU

Vrhunski evropski hirurzi koji rade u SVETOM VIDU pokrivaju svu patologiju oka, radeći najsavremenije intervencije i kod dece i kod odraslih.

Posebno bi izdvojili binokularnu operaciju katarakte i ugradnju multifokalnih sočiva, koja pacijentu omogućavaju komforan vid na svim distancama, doživotno.

TOP OPHTHALMOLOGY IN SVETI VID

Renowned European surgeons who work in SVETI VID perform all kinds of surgery, at the highest level, in children and adults.

The newest and most exclusive surgery is binocular cataract surgery and implantation of multifocal intraocular lenses. This provides patients with comfortable vision on every distance, forever.

Dobračina 27, Beograd

+381-11-328-37-37 +381-69-328-37-37 ; hospital@svetivid.com www.svetivid.com

AN IDEAL BLEND OF LUXURY AND TRADITION

– ZLATIBOR MOUNTAIN RESORT & SPA

Thanks to its ideal location, climatic conditions and natu ral potential, Zlatibor has become one of the most attrac tive holiday destinations. The Golden Mountain which can be visited year-round, enriched its offer in February with the most luxurious mountain resort - Zlatibor Mountain Resort & Spa. Located in the very heart of the mountain, next to the central square and Zlatibor Lake, this 5* hotel represents a perfect blend of tradition, contemporary design and mod ern technology. In addition to the ideal location, additional enjoyment is provided by different modernly equipped ho tel rooms and apartments. Different types of accommoda tion units offer a different experience of vacation, and each of them is characterized by a rustic, mountain style, comple mented by a touch of luxury and elegance.

A PLACE WHERE EVERYTHING IS SUBORDINATED TO COMPLETE ENJOYMENTMAGNESIUM WELLNESS & SPA

Aspecial gem of the entire complex is the spa centre, which cov ers more than 4,000 square meters and contains a special type of magnesium-rich water. Research by prestigious scientific institutions has established that it is water that, thanks to its chemical composition, is unique in the world and has a beneficial effect on the condition of the whole body. In addition to three swimming pools (leisure, swimming and children's pool), guests also have access to a luxurious spa area with several types of saunas, which provides an exceptional feeling of relaxa tion and enjoyment, as well as rooms for massages and face and body treatments. Visitors with refined taste, who demand privacy, peace and personal space, can enjoy a sophisticated VIP corner or an elegant spa suite. Those who cannot imagine their vacation without physical activity have at their disposal a state-of-the-art fitness centre, whose capacities can meet the needs of both professional athletes and joggers.

AN AUTHENTIC INTERPRETATION OF ZLATIBOR GASTRONOMY

As for gastronomy, the Zlatibor Mountain Resort & Spa offers a unique blend of traditional and modern cuisine. The restaurant Kalem by Zak Mountain Concept represents a refresher on the gastronomic map of Zlatibor and offers guests an innovative approach to cooking. The con cept of the restaurant is based on the highest quality local ingredients, daring combinations and the most modern methods of food prepara tion, by the hands of some of the best gastronomic experts in the region. In addition to a la carte restaurants, hotel guests have the opportunity to have their meals in the restaurants with a set menu, which is character ized by impeccable service, polite staff, an authentic environment and a view of the very centre of Zlatibor. Restaurant Ruj offers guests the opportunity to enjoy food and dishes from all over the world, as well as specialities characteristic of the Zlatibor region.

A CORNER OF TRUE HEDONISM –CIGAR LOUNGE BAR AND WINE DEPARTMENT

A special area in the hotel is intended for true hedonists. Leather furni ture, subtle details and authentic walls give the Cigar Lounge Bar a touch of mysticism and elegance, while isolation and dark, soothing shades provide the necessary intimacy and shelter from the gaze of passers-by. This paradise for hedonists has an enviable selection of cigars, as well as various world classics of whiskey, cognac, rum and other famous drinks. In addition to the place intended for lovers of cigars and good spirits, the Zlatibor Mountain Resort & Spa hotel also has a Wine department. Guests who enjoy the taste of quality wine have the opportunity to ex perience the aromas of the most prestigious domestic and foreign wines, specially selected and placed in a unique environment.

WHERE WORK BECOMES PLEASURE

The congress centre of the hotel Zlatibor Mountain Resort & Spa of fers space, equipment and support for all business events. Three confer ence rooms equipped with state-of-the-art audiovisual technology have everything needed for a successful business meeting or congress. With modern equipment, corporate interior and highly professional hotel staff, every business event will look perfect.

ENTERTAINMENT AS AN INDISPENSABLE PART OF VACATION

The entertainment facilities of the Hotel Zlatibor Mountain Resort & Spa have been created with special care. The state-of-the-art, spacious billiard hall, as well as the bowling centre, which is the only one on the mountain, will provide guests with a quality and interesting vacation. The youngest visitors have special treatment, so a small children's town was created especially for them where they can freely play and have fun.

The blend of luxurious facilities, perfect location and professional ser vice has created a new favourite place for vacation in the heart of Zlati bor. In a relatively short time, the hotel Zlatibor Mountain Resort & Spa won the trust of a large number of satisfied guests from the entire region.

You can find more information about the hotel's amenities on the website: www.hotelzlatibor-resort.com

Guests who enjoy the taste of quality wine have the opportunity to experience the aromas of the most prestigious domestic and foreign wines, specially selected and placed in a unique environment.

A special gem of the entire complex is the spa centre, which covers more than 4,000 square meters and contains a special type of magnesium-rich water. Research by prestigious scientific institutions has established that it is water that, thanks to its chemical composition, is unique in the world and has a beneficial effect on the condition of the whole body.

THE PIONEER OF SHARED AIRCRAFT OWNERSHIP WITH THE WORLD’S LARGEST, MOST DIVERSE PRIVATE FLEET NETJETS EUROPE, PROUD TO BE CARBON NEUTRAL SINCE 2012

A GLOBAL REACH OF 5,000+ AIRPORTS IN 200+ COUNTRIES AND TERRITORIES

YOU ARE NOT JUST A PASSENGER. YOU ARE AN OWNER.

YOU ARE NOT JUST A PASSENGER. YOU ARE AN OWNER.

NetJets transformed the aviation landscape as the pioneer of shared aircraft ownership. You can rely on our flexible programmes, transparent environmental management, and unparalleled safety and service to get you to wherever you are needed most.

NetJets transformed the aviation landscape as the pioneer of shared aircraft ownership. You can rely on our flexible programmes, transparent environmental management, and unparalleled safety and service to get you to wherever you are needed most.

GOLF – The key to extending tourism seasons and attracting wealthy real estate buyers

By Guest Writer For The Collection, P.j. Mcllroy

Courtesy of Thracian Cliffs Golf & Beach Resort, Bulgaria

Courtesy of Thracian Cliffs Golf & Beach Resort, Bulgaria

One of the oldest continually played sports in the world has always been the home to some of the most beautiful and impressive locations globally. Sprawling greenery, deca dent food, and a peace which can seldom be found in to day’s modern cities and lifestyles. But the consistent growth of the industry is backed by a love of the game which only increases and never fades.

The beginnings date to its first documented mentions in 1457 in Scotland. Ironically, these documents ban golf, describing it as a hinderance to other practices such as archery and other sports which were useful for the military at the time. It was such a hinderance that the bans had to be reiterated more than once, in 1471 and again in 1491 for good measure.

As it has been played for almost 600 years, golf is a game of tradition, but it has grown with the times. Since then, the sport has not changed much. It truly is a special feeling when walking through 18 holes pretty much anywhere. But, while in many ways the tradition and gentlemen style and rules of play have been kept, golf has moved forward, and it has been keeping up with the modern needs of today’s clientele.

So, what is it about golf? The team at The Collection Maga zine is embarking on a journey to present opportunities and what golf is all about. Golf is truly one of the activities which embodies everything this magazine pre sents and stands for. From the luxurious and healthy lifestyle, the competition, its surroundings and the services within golf re sorts with residences, clubhouses, and courses, we want to show the best of what golf has to offer on a regional and global level.

Some of these names, Dye Design and Gary Player to name a couple, have started to leave their mark in south-east Europe: Thracian Cliffs and Black Sea Rama in Bulgaria as well as Lykia World and Links Golf in Turkey.

Slovenia, being a country that has been in love with golf - it has most of the structures of the countries which used to be Yugoslavia - has also developed its gastronomical culture in the past few decades, having been able to offer Michelin-starred experiences and incredible wineries. It has married the two wonderfully, with modernity but always with an eye to its traditional roots.

The Royal Bled Golf Club (since 1937) has become the synonym with golf and exclusivity in Slovenia. Having undergone ownership and man agement changes in the past few years, it has truly received a ‘touch up’ that makes it one of the most beautiful locations in Europe.

Global numbers are clear:

United States of America: 25.1 million golfers

Asia: 23.3 million golfers

Europe: 10.6 million golfers

Canada, Central and South America: 5.9 million golfers

As our region is dynamically developing through FDIs, many coun tries in the region have earmarked golf as a key industry to expand the tourism seasons. Montenegro, for instance, will be home of one of the most stunning future golf courses in Europe. Lustica Bay has in plans to build the first 18-hole championship golf course in the country, and saying the location looks promising is a euphemism. Perched on top of the Lustica peninsula, it will offer stunning views of the UNESCO World Heritage Site of the Bay of Kotor, as well as on the open Adriatic Sea and surrounding mountains. Designed to max imise sea views and offer a chal lenging course for future visitors to enjoy, this golf course will be part of a fully integrated new town which will include real es tate, multiple hotels, other sports facilities, commercial areas, two marinas as well as key infrastruc ture and amenities such as medi cal centre, police and fire brigade station and school.

Oceania: 1.3 million golfers Africa: 439,000 golfers

As the pandemic has changed tourism and the way most resorts operate throughout the world, golf has still represented one of the most dynamically growing segments of worldwide tourism. Both from per spectives of pure tourism, but also through the actual competition. To give some numbers: The Ryder Cup is the greatest event in golf, hosted every two years between US and European venues. It lasts 3 days, and since 2008 for that period it generated over $ 140m in local economic activity on average per venue, with over 200,000 people attending. That is one tournament.

Now this gives a simple taste of the impact golf has, but it has con stantly fuelled the increasing number of golfers to play more courses, at more exotic locations. The simple fact that golf participation numbers have managed to ride the wave of the pandemic not only without losing numbers, but even increasing them, is another showing of how much this industry is key.

To these numbers, the tourism industry has not been silent, and has played a key role in this rise. New resorts have been inaugurated almost constantly, with existing ones being updated and renovated to keep up with today’s needs.

Locations cover every continent. From New Zealand to the Himala yas, going through old world locations like Italy, Ireland, Portugal, and Greece, to of course the Americas, the Caribbean and all the way to South Africa and Hawaii.

Four Seasons Hotels, Banyan Tree, Dusit Thani and One&Only link up with some of the most renowned architects in the world to offer the greatest golf experiences.

The major golf designers, who are mostly renowned for their breathtaking landscapes which complement the location of their settings, offer challenging courses which use the local terrain to give at each swing golfers new ways to improve. These are often ex-players, veterans who have written the history of this sport and decided to leave a further per manent mark: Gary Player, Jack Nicklaus, Arnold Palmer, Greg Norman and nowadays even Tiger Woods (albeit he has but scratched the surface of this area as he is still very much active) have all put their signatures to some of the most iconic golf courses today. They have become a syno nym with golf course design excellence, continuing in the traditions of Old Tom Morris, Robert Trent Jones, and Pete Dye.

Just as one sparrow does not make a summer, one golf course is only great when there are more to sample and compare - ideally within a 4 hour drive (by road not by club!) as that is the desire of the world of golfing tourism – to play a different course each day. Imagine if we had one great course in each country in the region – then we would have traction to establish a golf destination.

Moving more southwards, we find Turkey and the burgeoning Belek near Antalya. Turkey has made golf an integral part of their tourism de velopment where resorts with multiple courses have been springing up almost continuously for the past decade, making it a must visit destina tion in this part of Europe.

Twenty golf courses to chose from, hotels, restaurants, all packaged for to offer golf tourists the best of the best, and for all levels. Sueno Resort’s courses, the PGA Sultan, and Gloria courses are just a few of the resorts that have helped put Turkey on the map of every golfer that wants to discover this fascinating ancient area of the world. All these resorts have offers for even the most demanding of clients, both from a golfing and from a lifestyle perspective.

To give some numbers: The Ryder Cup is the greatest event in golf, hosted every two years between US and European venues. It lasts 3 days, and since 2008 for that period it generated over $ 140m in local economic activity on average per venue, with over 200,000 people attending. That is one tournament.

As written earlier, the Bulgarian Thracian Cliffs is another perfect ex ample: a Gary Player Signature course located on the cliffs overlooking the Black Sea. With an offering of various restaurant, real estate and po sitioned within Kaliakra National Park, it is a mesmerizing location that offers a truly beautiful experience overall.

Golf and luxury have been linked for a long time, making the lifestyle side of this sport key to its growth. The inclusion of restaurants that mix the traditional and the modern, offering everything from a fresh beer and a beautiful roast, all the way to the finest of wines and spirits to pair with a tasting menu and satisfactory score at the end of the 18.

And the SPA centres. Who can imagine a 4 or 5 hour game of any thing, let alone the rollercoaster of emotions that is golf, without a relax ing trip to a sauna or a swim in a heated outdoor pool, while indulging in spectacular green views? Golf really is the indulgence of all the senses, and Resorts and Clubhouses offer their clients exactly that.

Of course, a segment which is key to the lifestyle of golf is the real es tate that often surrounds the fairways. Some say that privacy has always been the real luxury, and if you don’t mind perhaps the occasional ball landing around your house, golf courses are ideal places where to invest in a little slice of heaven for you and your family.

These are often ex-players, veterans who have written the history of this sport and decided to leave a further permanent mark: Gary Player, Jack Nicklaus, Arnold Palmer, Greg Norman and nowadays even Tiger Woods (albeit he has but scratched the surface of this area as he is still very much active) have all put their signatures to some of the most iconic golf courses today.

WHAT ABOUT THE REST?

Golf has often caught the attention of worldwide audiences for com mercial reasons too.

From watchmakers to banks, insurances, car manufacturers and fashion brands, almost all of them have invested heavily in the world of golf and have had their returns. Many remember the Tiger Woods con tract with Nike back in 1996, but the investments from companies such as NetJets, Rolex, BMW, KPMG, and MasterCard have been of para mount importance to the development of golf. Through their important presence in tournaments, player sponsorships and overall engagement in the sport, these companies have allowed golf niche companies to thrive: Taylormade, Titelist, Callaway, FootJoy are just some of the golf specific brands that have built this sport and that have succeeded in the last past period.

But money and ‘market share’ have caused some turmoil too. The en try of the Public Investment Fund (Saudi Arabia) through GolfSaudi with LIV Golf (an alternative to the already historically established PGA – Professional Golfers’ Association) has certainly allowed more promo tion of the sport. Even if coming under heavy criticism from ‘tradition alists’ for being ‘separatists’ from the establishment, the fact of the matter is that the interest in golf has never been higher also thanks to them.

All of this reflects on the ever so religious crowd of golfers flocking to courses to improve their game and take their families with them to enjoy the beautiful settings and facilities around this incredible sport.

And that is key to golf: as mentioned earlier, it is not only a sport. It is a lifestyle. A beautiful medley of competition, fresh air, beautiful settings, indulgence, fun and comfort that leaves nobody for wanting. From the youngest to the oldest, from the more to the less active, for women or men. Golf is without age and without limit. Something for everyone to build beautiful memories with their loved ones and from a macro regional perspective, this is a wonderful industry to promote tourism in the region – where traditional golfers will gladly travel from one country to another to experience our incredible variety of scenery backdrops that rival anywhere in the world.

And the SPA centres. Who can imagine a 4 or 5 hour game of anything, let alone the rollercoaster of emotions that is golf, without a relaxing trip to a sauna or a swim in a heated outdoor pool, while indulging in spectacular green views? Golf really is the indulgence of all the senses, and Resorts and Clubhouses offer their clients exactly that.

Courtesy of One&Only Resorts, One&Only Palmilla - Los Cabos

Henley & Partners is the global leader in residence and citizenship by investment. Each year, hundreds of wealthy individuals and their advisors rely on our expertise and experience in this area. The firm’s highly qualified professionals work together as one team in over 35 offices worldwide. The firm also runs a leading government advisory practice that has raised more than USD 10 billion in foreign direct investment. For more information on acquiring alternative citizenship, e-mail yourfuture@henleyglobal.com or visit henleyglobal.com

Citizenship by Investment programMONTENEGRO

Boka Bay Montenegro — the five-star fjord

INVESTMENT MIGRATION – A SUCCESSFUL CASE STUDY FROM MONTENEGRO

Investment migration has enabled sovereign states, such as Montenegro, to tap into a new source of sustainable rev enue. In the business environment following the pandemic, as in the wake of previous disruptions such as the 2008 fi nancial crisis, residence and citizenship programs create sig nificant value - both for investors and for sovereign states in need of alternative revenue streams. Montenegro has successfully operated a Citizenship by Investment program since 2019 and, if logic prevails, will continue until a total of 2,000 applications have been successfully accepted.

In this article for The Collection Magazine, we explain the success of the Montenegro program and the enormous benefits it has brought to this small Balkan nation.

The current program allows applicants to invest in approved real estate projects in the north of the country and on the coast. In total, to date, cca 1,000 applications were submitted in the scope of the program. The table shows the concrete economic benefits that the Montenegrin economy would achieve if the program is continued until 2,000 successful applications have been received. Since the beginning of 2022, a fee of EUR 200,000 is paid to the Mon tenegrin Government by the applicants. The average investment per applicant is EUR 350,000. The administrative fee for processing one application is on average EUR 35,000. These are the parameters on which the calculation of the potential success of the program is based on.

The total effect of the applications submitted so far amounts to EUR 440 million, which is an extremely signifi

cant amount and shows the potential of the program. If the full, initially planned potential of the program is realized, with 2,000 originally set applications, a realistic estimate is that the program can generate more than EUR 1 billion of investments and revenues in a relatively short pe riod of duration of this program.

According to the current projections of the listed projects, and new recently proposed projects, 1,200 hotel rooms are planned in new hotels in the north of Montenegro and 800 hotel rooms in the south. According to the reports of the globally recognised, renowned consulting company Horwath HTL, one room in a 4*+ and 5* level hotel contributes over EUR 50 thousand per year to the country's GDP, and employs 1.3 work ers on average. According to this, already in the next couple of years, these 2,000 accommodation units in hotels will contribute to the em ployment of 2,600 hotel workers, and contribute more than EUR 100 million per year to the country's GDP.

2,000 accommodation units in hotels will contribute more than EUR 100 million per year to the country's GDP.

Mount Lovćen — the heart of Montenegro Porto Montenegro, Tivat

WHO THE APPLICANTS ARE AND HOW THEY ARE CHECKED

Individual applicants successful to date are business owners and entre preneurs, followed by financial experts, IT experts and specialists, such as doctors. There are renowned names from the IT world, the beauty and fashion industry. Applicants have chosen Montenegro as a destination for alternative citizenship, after analyses that in some cases took several years. The basic criteria for applying is always the same and extremely strict. First of all, it is necessary to obtain, and legalize in the prescribed manner, a whole set of documents, including police certificates, exhaus tive financial statements, and evidence of investments in Montenegro. After the licensed agent submits an application, the main part of the process begins. As part of the Government's internal procedure, an official procedure for checking the international eligibility of the candidate (comprehensive due diligence) is carried out. On behalf of the Government, this is done by world-renowned companies, specialized in this field: Exiger from Canada and S-RM from Great Britain, licensed in Montenegro for the Program. This in-depth analysis lasts at least one month, and if the findings are negative, the application is au tomatically rejected, without the right of complaint. If the finding is satisfactory, only then the application qualifies to be reviewed by the competent state authorities, headed by the Ministry of Internal Affairs of Montenegro.

unique processes and analyses, never before implemented in Montene gro, are carried out to such a high level by a number of companies and institutions specialised in this field, specifically with the aim of credibil ity, so that the applicants under the Montenegrin CBI Program are, in fact, the most verified people in Montenegro.

While significant focus must be placed on the investor side of the industry, consideration must also be given to the sovereign side of the equation. Investment migration programs bring billions of euros worth of much-needed capital to sovereign states that would otherwise have to be raised through taxation or increased sovereign debt and budget deficits. There are multiple objective sources that demonstrate not only the value of the liquidity injection itself, but the wider benefits in terms of driving foreign direct investment (FDI) into EU nations like Malta, Greece, Latvia, Spain, or Portugal. These programs create genuine societal advantage not just through increased Government revenue, employ ment creation and enhanced infrastructure spending, but through the generation of new opportunities across all levels of soci ety.

If the full, initially planned potential of the program is realized, with 2,000 originally set applications, a realistic estimate is that the program can generate more than EUR 1 billion of investments and revenues in a relatively short period of duration of this program.

After the due diligence is completed, and only in case the findings do not constitute a rejection of the application, final checks are carried out by the Ministry of Internal Affairs, in cooperation with the National Security Agency. In addition, the state naturally reserves the discretion ary right to revoke the passport of the applicant, in case it is proven that he/she submitted an incorrect document during the process, or did not behave in accordance with the law after obtaining citizenship. These

To put citizenship by investment into per spective, approximately 900,000 naturaliza tions occur in total in the EU every single year, which amounts to roughly 9 million over a 10-year period. The 6,000 that have come in through citizenship by investment over the past decade is less than 0.1% of that total. While minimal to no due diligence is done on those naturalized through other channels, ex tensive due diligence is done on 100% of those naturalized through EU citizenship by investment programs.

Investment migration programs of EU member states have brought around EUR 25 billion in foreign direct investment into the EU over the past decade. More importantly, as this industry will ensure ongo ing value creation for societies within most EU member states, this will greatly benefit the Union in the long term. Other industries that deal in

multi-billion-euro liquidity streams and are involved in issues of sover eignty are well-regulated by competent authorities to prudently manage risk and grasp opportunity.

Investment migration is now widely recognised as a longstanding form of both sovereign investment demand generation and a catalyst for economic growth and diversification. It accounts for billions of euros in global capital. There are now over 100 investment migration programs worldwide, and it is a legitimate migration pathway accepted by the United States, Australia, Austria, Spain, Italy, Portugal, and many other sovereign states.

Investment migration has become a standard and recognized policy lever to incentivize foreign direct investment, and the EU member states like Austria, Malta, Spain, Greece, Italy, Portugal and many others that offer these programs, have created a vital advantage for themselves and their citizens in the global competition for capital and skills.

Montenegro can be extremely proud of its citizenship by investment program. It has very quickly established itself as a remarkably success ful and world-leading sovereign financing and economic innovation platform, capable of raising millions of euros in debt free capital for its citizens each year and attracting some of the finest global talent and in vestors with valuable international networks and skills that will enrich the country.

Montenegro can be extremely proud of its program. It has established itself as a remarkably successful and world-leading sovereign financing and economic innovation platform, capable of raising millions of euros in debt free capital for its citizens each year and attracting some of the finest global talent and investors with valuable international networks and skills that will enrich the country.

WHAT THEY SAID ABOUT THE PROGRAM OF ECONOMIC CITIZENSHIP IN MONTENEGRO

BRADLEY HOROWITZ, VP PRODUCT, GOOGLE

Having visited your country this summer, I had the opportunity to see in person not only the natural beauty of Montenegro, but also its investment potential. During my stay I had the pleasure of meeting the highest Government officials, and also prominent stakeholders not only from the public sector, but from the pri vate investment area and ICT industry as well. In direct and open conversation with all of them I realized that Montenegro presents remarkable investment op portunities. I am also aware of the Montenegrin CIP and it goes in line with the above said. This program contributes not only to the country’s economy and financial stability, it also goes hand in hand with placing Montenegro on global map and making it visible to the world’s HNWI.

TOMISLAV ČELEBIĆ, PRESIDENT, ČELEBIĆ COMPANY (REAL ESTATE DEVELOPMENT COMPANY)

The development projects that are being im plemented in Montenegro today will place our country among the exclusive and most desir able destinations in this part of the Mediter ranean. The economic citizenship program in Montenegro differs significantly from others in Europe and beyond. Investments are limited to development projects that are sustainable in the long term. Investor control is very strict, which minimizes the potential risk of illegal activi ties. With these and similar investments, we can improve the standard of citizens, infrastructure, education, healthcare and finally the rule of

law. All of these are important prerequisites for us to become part of the developed EU countries.

BLAGOTA RADOVIĆ, OWNER, ZETAGRADNJA (REAL ESTATE DEVELOPMENT COMPANY)

I am of the opinion that the economic citi zenship program contributed significantly to the development of Montenegro, primarily in the north, which enabled the state to di rect its capacities and begin the realization of the planned construction of ski centres in the north, which have all the predispositions to be one of the best in the region, and which is certainly of great importance for the development of both winter and summer tourism.

DAVID MARGASON, CEO, PORTO MONTENEGRO (ADRIATIC MARINAS LTD)

Adriatic Marinas Ltd applied a measured and responsible application of the then newly offered Government of Montenegro Citizen ship By Investment (CBIP), investment stimu lus initiative, to its Boka Place hospitality-led, mixed-use project and this provided the confi dence to our investors to implement this very significant, employment generating scheme at a very challenging time in the market when the COVID pandemic was halting many other projects. Whilst we await completion of the protract ed processing of the resulting CBIP applications made by our clients, our experience of the inward investor market reaction to the scheme, has been very positive to date. We have assembled another innovative, di verse and very significant hospitality-led mixed use project SYNCHRO,

which would certainly benefit from the application of the current or any evolved and well operated CBIP program, in terms of investor confi dence to launch such a project which we believe would again contribute materially to the further social and economic development of Monte negro.

VASILIJE KOSTIĆ, ECONOMIC ANALYST

Two thirds of EU countries have a residence or citizenship by investment program, and such programs have contributed over EUR 20 billion to the EU. Investment migration is something typical for the present, since no country is entire ly self-sufficient and all countries seek to attract foreign investments and knowledge. The Monte negrin Government should extend the program because it has the potential to be an important source of investments, especially since Montenegro has discrepancies in public finances, a deficit in the state budget and a high public debt. On the other side, the EU is strongly opposing the program and even exert ing pressure on Montenegro to end it, even though EU countries have similar programs. Since we are on the road to accession to the EU, such opposition cannot be ignored, but this does not mean that the program must be cancelled. The credibility of the program would be proven by a rigid administrative procedure with serious background checks, that the EU would monitor or review. The EC and the EU warn of risks such as corruption, money laundering, terrorism financing, but these are un likely to materialise if the program is built on clear, transparent, and credible procedures.

Skadar Lake –just one example of the postcard perfect beauty of Montenegro

Residences for

Kolašin Valleys

Experience different side of Montenegro

Located just 40 minutes away from Podgorica airport, Kolasin Valleys is the largest ski area in the Mediterranean, with the cur rent length of ski trails of 45km combined between the two re sorts - K16 and K1450, and the planned length of 126km once the whole masterplan is executed.

The area is one of the fastest growing high-end tourism desti nations in this part of the world, with 8 hotel buildings currently in development and 12 more in the pipeline.

Other than just offering the su preme ski experience, the Ko lasin valleys are becoming the capital of the northern Monte negrin gastronomy and social life, with a number of fine dining restaurants, après-ski, eclectic bars and clubs.

The resort will also feature a total of 73 chalets nested in two villages architecturally inspired by the French Alps.

As the focal point of the K16 settle ment, Thyme residences building is developed to bring life to the resort 365 days in the year.

With a number of retails, funky bars and restaurants, the Thyme building will be close to everything you need to make your life in the resort complete.

THYME

The design is predominantly mod ern, while also paying respect to Montenegrin tradition. The build ing will have a direct access to the ski slopes, providing the ultimate convenience to the future owners and their guests.

The opening of Thyme residences is scheduled for the Winter 2025.

The most recent addition to the Ko lašin 1450 resort, hotel Kilimanjaro is placed at a central location of the set tlement making it one of the most at tractive segments of the development.

The design and concept are inspired by the power of the nature, which is reflected in all aspects of this project from its name to the materials used.

The use of local stone and wood is meant to create a timeless value for future owners, while allowing them to experience the tranquility, serenity and the beauty of the na ture to the fullest.

The hotel will open its doors to first guests in Winter 2025.

REAL ESTATE & INVESTMENTS

St. Regis Residences, Downtown

THE RISE AND RISE OF BRANDED RESIDENCES

BY KIERAN KELLEHER, OWNER DREAM ESTATES CROATIA / MONTENEGRO – SAVILLS

Branded residences, as a property sector, has proved to be incredibly resilient in the face of global uncertainty and change. The sector has not only survived the dis turbance but continues to thrive. Over the past 10 years, the sector has grown by over 150%, and the pipeline of fu ture branded residences remains strong with future projects set to double current supply offerings over the next 5 years. The global distribution for branded residences is also continuing to expand, with brands look ing for new locations to grow their portfolios.

Although there is no single industry definition, but at its core, a branded residence is a residential property available for purchase on the open market that is affiliated, usually by design and servicing, to a well-known global hotel brand. This excludes traditional serviced (rental) apartments, although owners of branded residences can rent out their own properties. The most significant factor in delivering a branded residence versus the traditional block of apartments model, is that a branded residence, purchased by an investor / user, and leased back to the hotel, will contribute a minimum of USD50,000 to the GDP

of the country, each year, compared with the stand ard apartment sale, which delivers less than 10% of this sum, per annum. In addition, the country in creases its stock of 4 / 5* hotel product, thereby increasing the attractiveness of the destination, to a higher spending tourist.

Brand association instils buyer confidence through the assurance of a high level of service and usually an exceptional amenity offer. Buyers aren’t the only beneficiaries. There are significant advantages for developers and the brand them selves as well as are outlined below:

In our region, Montenegro was the first country that really recognised the immense benefits of branded resi dences within mixed use resorts. In 2013, the then Ministry of Sustainable Development and Tourism released the ‘Condo and mixed use hotel’ law, enabling and encouraging developers to deliver branded residences as part of 4 / 5* hotel’s.

The law, in essence allowed real estate developers to sell a portion from 50-100% of the hotel stock, as freehold properties, with reduced VAT rates during construction. The developer in return, contracted with the government to appoint an international hotel brand to manage and operate the property for an extended period of the year. In turn, the sold stock enters the leaseback program, whereby the purchased property be comes stock operated by the ho tel. Owners of the properties re ceive a percentage of the income and some usage right also.

This was one of the main game changers for the Montenegrin property and tourism markets – which positioned Montene gro tourism on the world map and secured its place as one of the fastest growing tourism des tinations in the world. Every one was a winner – the country with huge increase in 4 / 5* hotel stock, developers with early cash flow, and the local community also, not only from the number of high quality jobs but also the effect the developments had on the price of local real estate. For instance, in Tivat, which 10 years ago, recorded the lowest price per m2 for property on the Adri atic to today recording one of the highest, is singularly attributable to ‘the Porto Montenegro effect’

with the arrival of Regent Hotels and their branded residences and more recently, the Siro brand, also within the new village. Montenegro has now expanded the model to the north of the country with the arrival of Swissôtel in Kolasin.

Serbia is now firmly also on the branded residences map, with the arrival of The St. Regis. Croatia has failed to grasp the opportunity and also has the added complexity, that much of the large lands available to developers are won at tender which provides only a leasehold option for the real estate, which is a significant turn off to potential buyers. Other branded residences in the region are sold freehold. All eyes are now on Albania who has high aspirations to follow the success in Montenegro.

The regional chart below shows the growth of this real estate concept in our region.

Though branded residences originated in North America, brands are increasing their global presence across all geographies. Today, there are 640 schemes, accounting for nearly 100,000 units, operating across eve ry continent, save Antarctica. The growth of the sector is set to continue apace, with supply levels forecast to exceed 1,100 schemes by 2027, near ly doubling current supply levels. In the Middle East and Asia Pacific, growth hotspots, both in terms of pure economic growth and wealth creation, are attracting more interest and development from global brands. The regions have seen 400% and 216% increases, respectively, in their levels of supply of schemes over the last decade. Our region will also see significant growth in branded residences. Four Seasons in Du brovnik will offer branded residences as will most of the greenfield sites along Croatia’s coastline (although the law will need clarification on the perpetuity of the lease issue). There is significant pipeline stock, primar ily in Montenegro and elsewhere.

Montenegro

Regent Porto Montenegro, Tivat, Montenegro - Hotel Operator: Regent, InterContinental® Hotels & Resorts - Status: Fully Op erational

One&Only Private Homes, Herceg Novi, Montenegro - Hotel Operator: Kerzner International - Status: Fully Operational

SIRO Boka Place, Tivat, Montenegro - Hotel Operator: Kerzner International - Status: Opening in 2024

4. AMMA Resort, Bar, Montenegro - Hotel Operator: InterContinental® Hotels & Resorts - Status: Opening in 2024

5. Swissotel Resort Kolašin, Montenegro - Hotel Operator: Swissotel, Accor - Status: Opening in 2023

6. Janu, Budva, Montenegro - Hotel Operator: Janu, Aman Resorts, Status: Opening in 2024 Serbia

7. The Residences at The St. Regis Belgrade, Serbia - Hotel Operator: St. Regis Hotels & Resorts, Marriott - Status: Opening in 2024 Croatia

8. Kempinski Residences, Istria, Croatia - Hotel Operator: Kempinski Hotel Adriatic, Kempinski - Status: Fully Operational

9. Falkensteiner Residences Senia, Zadar, Croatia - Hotel Operator: Falkensteiner Hotels & Residences - Status: Fully Operational

10. The Four Seasons Kupari, Dubrovnik, Croatia - Hotel Operator: Four Seasons Hotels & Resorts - Status: Opening in 2025 (TBC)

WHO ARE THE KEY PLAYERS?

The diversification of the branded residence space isn’t limited to geo graphic diversification. The sector has evolved from a market dominated entirely by hotel brands to a diverse combination of hotel and nonhotel brands in the sector. Parent companies and parent groups, with large numbers of brands under their umbrellas, continue to compete for market share and brand recognition. Marriott International remains comfortably atop the rankings for hotel parent companies, where the company has been since 2002. However, in recent years, there have been rising stars and new entrants into the market both in terms of type and location of the parent brand. Accor, for example, ranks third by number of completed properties in 2022, rising from fifth place in 2021. This growth is expected to push it into second place, behind Marriott Inter national, when factoring in pipeline supply at the end of the forecast

period. Non-US brands such as Emaar and Banyan Tree have risen to become global contenders. As more residents of regions outside North America and Europe move up the wealth ladder, there will be increas ing demand for branded product which can cater to their needs. For non-hotel brands, there is more activity and jostling for position com pared to the hotel parent brands. YOO remains top of the table now and through the pipeline forecast period. Several other brands such as Mahindra (Pininfarina), LightArt, and DAMAC (Roberto Cavalli) will ascend through the rankings during the forecast period. Each of these parent companies have brands that are more focussed on a specific sub sector, be it fashion, automotive, or design, etc. These specialisms allow

Just as the parent companies must differentiate themselves while maintaining growth in an increasingly crowded landscape, so too must the individual brands in order to attract buyers. For hotel brands, the top three spots are occupied by Four Seasons, The Ritz-Carlton, and St. Regis. Four Seasons and The Ritz-Carlton have been competing for first place in the rankings for years, and 2022 marks the first year that Four Seasons has clinched the top spot for hotel brands. Of the top three hotel brands, St. Regis has the largest pipeline with the brand projected to increase its supply by 138% by the end of the forecast period. St. Regis is not alone in its significant expansion plans; of the top 10 hotel brands, five have pipeline growth figures of over 100% and a further two have pipeline growth of 90% by the end of the period. Further down the ta ble, many other hotel brands such as One&Only, Swissôtel, Grand Hyatt, and JW Marriott, among others, have pipeline growth over 150% for the

forecast period, over the next 5 years. By contrast to the hotel brands, most non-hotel brands have fewer than 10 schemes in operation. YOO and Trump, the latter considered as non-hotel brand for the purpose of this report, are the exceptions to this trend, however, as they have been active in the branded residences sector for significantly longer than other non-hotel brands. Non-hotel brands tend to emphasise their differences from the hotels and focus much more on integrating elements of their specific brand via design, lifestyle, or amen ities. Projected pipeline growth for most non-hotel brands is strong, though most are growing from a low base. These nonhotel brands often do not have the same depth of development infrastructure, from staff ing to development support, compared to traditional hotel brands and cannot gain from the benefits of co-locating themselves with an affili ated hotel where complementary amenities, facilities and services can be shared across users.

There is an increasing variety of brands in the non-hotel segment, even if the growth of the segment is slower than other chain scales as the total supply increases over the pipeline period. From the established players in design, fashion, golf, and wealth brands to newcomers from automo tive, music, and art brands, such as the recent announcement of Louvre Residences in Abu Dhabi, the growth of non-hotel brands demonstrates that buyers do not appear to be limiting themselves to classic hotel of ferings. Fast-growing economies such as Brazil, United Arab Emirates, and India are leading the table for non-hotel pipeline, with each country forecast to see non-hotel brand scheme growth of more than 70% from current supply levels. The lifestyles offered by these non-hotel brands, and the fact that there are fewer residences in existence, provide the per fect combination for trophy assets for the growing number of wealthy individuals globally.

WHAT DO THE BRANDS SAY?

In the wake of the pandemic, people’s needs for their homes have shifted dramatically compared to 2019. People continue to spend a larger share of their time at home, especially as hybrid work continues to be a driving trend for the workforce. Branded residences are quickly adapting to these new needs. “This means more personalised, spacious, and private accommodations, with both indoor and outdoor areas, in

which they can dedicate differ ent spaces to working, relaxing, visiting, etc.,” says Brad Berry, Vice President, Global Residen tial Development for Rosewood. With the stresses and pressures of everyday life, Jonathan Tom linson, Senior Vice President, Private Homes, Kerzner Inter national, has found that travel lers are increasingly wanting to “spend their time away recali brating, focusing on their well ness, and finding balance. The brand offers both bespoke pro grammes such as tailored nutri tional menus, fitness schedules, targeted spa treatments, stressrelieving activities along with a performance-focused brand, SIRO, which puts fitness and wellbeing at the core of the residential experience.” James Price, Vice President, Residential, EMEA, Four Seasons Hotels and Resorts, adds, “To harness the power of sustainability and innovation, the experience begins at the design phase and goes far beyond the obvious health and wellbeing inclusions such as fitness centres and pools. Also, through strong partnership with our development partners, architects, sustain ability consultants, and interior designers, we can ensure that design standards are met across new projects while also reducing the impact on the planet, optimising space planning and offering amenities and home features intended to encourage healthy lifestyles, relaxation, and connection.” As these trends continue, the branded residences sector will only continue to attract new and returning buyers. Jeff Tisdall, Sen ior Vice President Development, Residential & Extended Stay at Accor adds, “We expect the category to continue to evolve rapidly. Technology will be a big driver of this change as the urgent need and demand for en vironmentally responsible housing accelerates. Service technology will also be a big part of the story and we are working hard to expand and fully integrate our residential platforms with our loyalty, recognition and reservations systems, enabling Accor and Ennismore to recognise the VIP status of our residence owners wherever their travels take them.

Residences by chain scales Completed & Pipeline

BRANDED RESIDENCE PRICE PREMIUMS

The affiliation of a luxury brand to residential product, through the associated quality, design, and service that differentiate those brands, often provides the incentive for buyers to pay a premium for these qualities. Existing brand awareness can increase the profile of a branded residence scheme and can attract larger amounts of interest, and thus buyers, to a project. Savills analysis shows that the average global pre mium for branded residences, over a comparable non-branded product,

stands at 30% on an unweighted basis. It should be noted that these premiums do vary signifi cantly by location, brand, and type of scheme. In our region, our research shows that brand ed residences command a price premium of at least 35% across all properties in this model. The highest brand premiums can be found in emerging markets, where luxury brands appeal to growing numbers of high net worth indi viduals. Schemes in these locations can command an average premium of 54% compared to nonbranded stock. In markets where few to no branded schemes exist, a branded project can achieve pricing double to that of comparable non-branded stock.

© Source: Savills Research and Global Residential Development

© Source: Savills Research and Global Residential Development

We expect demand for the branded residence product to become sig nificant in our region from this point forward, following on from the very strong performance of the schemes delivered to date, the benefits for developers in releasing capital and more importantly, to allow devel opments to compete equally with each other. This demand may be partly domestic, as mobile customers value a seamless, reliable management of their properties, but we believe that it will be mainly underpinned by the growing HNWIs community globally and their aspiration to spend time in multiple destinations. Demand from international buyers is also likely to grow in accessible resort destinations to support demand from major cities with high concentration of wealth. After a number of years of evo lution, the branded residences sector has proven resilient and adaptable to adverse market conditions, offering security and reliable quality to

buyers and attractive returns to developers and brands. With a robust and geographically diverse pipeline, as well as the continued commit ment to the sector from developers and brands, the sector is set to con tinue to expand in the near term and our region is set to take advantage of this demand.

NOTE: Elements of this feature have been copied, with thanks, from the latest Branded Residences report by Savills. The full Savills report can be found on www.savills.com

SEASON GLAM

IMMERSE YOURSELF IN A LIFE LESS ORDINARY

NIKO LAKOVIĆ, PARTNER

AND MANAGING DIRECTOR OF MONTENEGRO SOTHEBY’S REALTY

MONTENEGRO REAL ESTATE MARKET: OVERVIEW. TRENDS. PROJECTS.

In the past, when Montene gro was talked about as a luxury tourist destination, everyone had Sveti Stefan in mind, and it re mained a jewel within the tourist offer of Montenegro. Today, however, numer ous projects which have raised the offer of Montenegro to a new level are being developed throughout the country and the interest of foreign investors has been constant for more than a decade and a half now.

As Niko Laković, Partner and Managing Director at the Monte negrin office of Sotheby’s Realty, said in his interview for eKapija, it had all started in 2005, when foreigners first discovered Montenegro and its investment potential. Montenegro became even more attractive thanks to the investment-friendly policy and the adoption of laws that facilitated and simplified investing in Montenegro to the greatest extent and enabled investors to buy real estate in their name, the opening of a company in only several days, etc. More than 15 years later, the interest in investments is still strong and it could be said that we have a competi tive market now. People appreciate life in resorts more and more and all the benefits it offers, and according to Laković, it is becoming a trend to which all investors will have to adapt in the future.

Niko Laković recognized the opportunities offered by the real estate market, especially of the luxury one when he returned from London where he had studied. After working for two big investment companies, Pluto Developments and Black Mountain Development, at the end of 2009, he decided to open the Luxury Homes company and launch the portal Nekretnina.me, which quickly became one of the leading real es tate websites in Montenegro and in the region.

– On our portal, we were among the first to introduce the standard of having exclusively professional photographs of the advertised real

estate. We had also recognized a market gap and in troduced very expensive real estate in our portfolio too, which was not the case elsewhere. Apart from us, there were very few agencies selling facilities the value of which exceeded EUR 5 million. We started investing in marketing at a larger scale and increased the presence through regional magazines, publications and websites, but we also started visiting international fairs – Laković

They also soon established cooperation with Porto Montenegro and it is precisely that project that he sees as the turning point in the development of the luxury real estate market in Montenegro.

– Successful development of our portal Nekretnina.me, as well as the continuous results we have achieved in our cooperation with Porto Montenegro, made me think about how we could do something more, and make some better connections with the world because we had already set up a standard in the region. I felt that a strong name should appear in the market and raise the bar even higher and position Monte negro as a destination even better – our interviewee says.

That is how the famous Sotheby’s arrived in Montenegro.

– When I thought about who could come to the market, the options were Sotheby’s, Christie’s, or Knight Frank. Eventually, the choice was Sotheby’s International Realty since I have strong ties with Britain and I know their business standards. Also, as luck would have it, I met my current partner, Hunter Milborne, who is a Sotheby’s veteran and a man who has sold real estate worth billions. We decided to establish a part nership and we opened Montenegro Sotheby’s Realty in July 2020.

The arrival of a brand like Sotheby’s gave additional value to the mar ket of Montenegro, as well as significant exposure to the world. When asked how he managed to bring this global leader in the luxury real es tate market, Laković said that it was primarily the successful develop ment of Porto Montenegro that was to be thanked for it, and then other high-end projects which were also implemented in Montenegro.

– In our company, in our rela tions with our clients, we foster a truly professional approach. Eve rything functions as if you were at any other office within the group, in London or New York. For each client, for each sale, we fight as much as we can and we try to have every purchaser satisfied with the price they’ve achieved, but also with their life in the settlement. We belong to a network of 75 countries that has 25,000 agents, our real estate is promoted through the strongest global media and we are trying to send an image of a different Montenegro every day in the world – says the interviewee of eKapija.

He adds that an office was also opened in Belgrade, Kadena Sothe by’s, which has a franchise in Serbia.

– The office in Serbia is run by serious professionals from the fields of real estate and hotel management, Nikola Nedeljković and Živorad Vasić. I truly believe that, together with the offices in Split and Belgrade, we will very soon become the main force in the former Yugoslav market when it comes to luxury real estate.

It will be so is also shown by the fact that the Montenegrin office has also received significant acknowledgments. The panel of judges for the International Property Awards gave the acknowledgment in the catego ry Best Real Estate Agency in Montenegro for 2021/2022 and all 5* to Montenegro Sotheby’s Realty. Also, the website www.sothebysrealty.me was pronounced the best in the category Real Estate Agency Web Page.

Development initiated by the British, continued by Russians

Talking about the development of the real estate market in Montene gro, our interviewee said that, until 2005, it was mostly the region that was interested in the country. Then, there was a turning point and first, the British came, and then the Russians.

– The British are always the vanguard of other investors, they have it in their DNA. After they had opened the market, they started sell

ing real estate to Russians, who started coming to Montenegro in droves at the time. Like us, Russians are emotional buyers. When they like something, they don’t ask how much it costs. Over time, this increased the value of the real estate. The potentials of Montenegro were then also recognized by the people who founded Porto Montenegro. They bought the old navy base Arsenal and made a phenomenal resort for mega yachts. They started the construc tion in 2006, the first building was ready in 2009, and today, only 40% of the total area has been developed. Around 400 units were built, and they brought luxury brands like Dior, Dolce & Gabbana, Rolex… For example, Dior has achieved excellent results in Montenegro and pulled in other brands from their group. Next year, we expect the arrival of some more, very important world-famous names, which have not been that present in the region so far – Laković says.

As he points out, Porto Montenegro plans to develop as a year-round destination, so the construction of the Boka Place settlement, within which another hotel is being built, is well underway.

– It will have 150 units and operate within One&Only group. The set tlement will also have a small shopping mall of 55 units, where medi um-class brands will arrive, as well as a cinema, a gym of 1,000 m2, an Olympic-size pool… everything that will ensure interesting features throughout the year for guests to enjoy – Laković says.

In addition to that, Porto plans to develop new projects, which will considerably improve the resort’s offer.

– The continuation of the development of the complex will be on an even higher level. The next project will be called Synchro. It will have five plus stars, run by one of the world-famous operators, it will have condo units, but also its own beach – reveals eKapija’s interviewee.

"The arrival of a brand like Sotheby’s gave an additional value to the market of Montenegro, as well as a significant exposure to the world."

When it comes to the development of other projects, Laković also highlights Luštica Bay and Portonovi.

– Luštica Bay is developing in a very good direction - they’ve started building a golf course with 18 holes and it will be the first such project in the region that will have several hundred high-end residential units at the golf course. The residential part is be ing expanded as well, properties in various development zones are selling fast and the inventory is always low, so clients who are interested are often on a waiting list. On the other hand, Portonovi raised Montenegro as a destination on another level through the One&Only brand. The project lives, and functions, they have a nice marina, their own beach, high-quality resi dential units, and the retail offer is increasing too – Laković says.

"The potentials of Montenegro were then also recognized by the people who founded Porto Montenegro. They bought the old navy base Arsenal and made a phenomenal resort for mega yachts. They started the construction in 2006, the first building was ready in 2009, and today, only 40% of the total area has been developed. Around 400 units were built, and they brought luxury brands like Dior, Dolce & Gabbana, Rolex…"

In addition to the seaside, thanks to the project of economic citizenship, serious investments are realized in the north of Montenegro as well, primarily in Kolašin.

– Seven hotels are being built in Kolašin, so brands such as Swiss Hotel, Westin, IHG are coming to the north. Aman is coming to Žabljak and the construction of Hotel Chedi is planned as well. The project of economic citizenship had plenty of positive effects, so the construction of luxury resorts in places where, if it hadn’t been for that, those hotels would probably never have been built, or it would have taken years for the investments to be realized and developed. This project has truly brought new value to Montenegro as a destination – our interviewee says.

He also mentions the residential project Dukley Gardens, which has luxury apartments, high-class features, as well as beaches that op erate under the Nikki Beach brand.

– A second part of the Nikki Beach resort is opening in Kaluđerovina, and in Smokvica in Reževići, the construction of a settlement which will be managed by the world’s hotel operator Rosewood is beginning. The construction of the first Marriott hotel near the old town in Kotor has already begun, and it will be the first Marriott in Boka, with 150 hotel rooms. Kotor doesn’t have enough hotels, so it’s a good thing that the construction of Fjord is expected to start soon. In Budva, two hotels are being built on Slovenska Plaža, Intercontinental in Čanj, Iberostar in Su tomore… The implementation of another serious investment is begin ning in Ulcinj, so a modern hotel complex will be built in the location of the former Galeb – Laković says.

He points out that there’s a wrong perception in the public that criminals are buying real estate through the economic citizenship program, which cannot be true at all.

– All the applications for citizenship are subject to the strict control of a specialized due diligence company from Canada, so no one with crim inal background can pass that check. The people to whom we have sold units for passports come mostly from Europe, America, Canada, there’s a certain number of Russians, the Lebanese… The program will most probably end on December 31 under the pressure of the EU, but it has already produced results. A significant number of real estate properties have been sold and plenty of projects have been launched. The interest in the program is still very strong and my estimate is that the majority of units will be sold by the end of the year – Laković says.

Luxury villas and palaces from the 17th century

In addition to the real estate offered within luxury resorts, Montene gro Sotheby’s Realty has rare jewels along the entire Montenegrin coast in its portfolio, which are meant for those who have true knowledge

One-of-a-kind luxury mansion of more than 2,000m2 of residential space (12 bedrooms) and land area of

about real estate.

– I would highlight the phe nomenal palaces from the 17th and 18th centuries throughout Boka – the palaces Tripković, Zmajević, Mrša… Those are all trophy properties that have their own character and history, their own story and authenticity. We offer sophisticated penthouses owned by world-famous families, but also signature apartments within branded hotels. Monte negro Sotheby’s has in its portfo lio One&Only villas, which are unique, located right next to the sea, and are run by the operator of such a level and class. We are also mandated for attractive land plots at the seaside, but also some exclusive properties which have several houses for the owners and guests, whose value exceeds EUR 10 million – Laković reveals.

Seven hotels are being built in Kolašin, so brands such as Swiss Hotel, Westin, IHG are coming to the north. Aman is coming to Žabljak and the construction of Hotel Chedi is planned as well. The project of economic citizenship had plenty of positive effects, so the construction of luxury resorts in places where, if it hadn’t been for that, those hotels would probably never have been built, or it would have taken years for the investments to be realized and developed.

Trends and prospects in the market of luxury real estate

What’s currently the trend in the real estate market and what’s particularly in demand are serviced apartments.

– People are losing enthusiasm for the pur chase of real estate where there is no kind of service at all. Those kinds of projects are becoming a thing of the past, and everybody who plans to build in the future will have to make facilities with features - a reception desk, maintenance service, swimming pools, a gym, etc. The increasingly present trend is people from the region buying real estate. They come and stay here for three to four months, and they are still not too far away to go back to their homes easily. This year, we had as much as 50% of buyers from Serbia –our interviewee says.

In addition to the region, the purchasers of luxury real estate also come from Great Britain, Western Europe, Russia, Ukraine, Scandina via, Poland, the Czech Republic…

Each real estate they offer has its buyer, he points out.

– If we are talking about these individual villas, that niche is a bit nar rower and specific, but there’s certainly interest. Everything that’s at the seaside, in settlements such as Ljuta, Dobrota, Krtole, Kaluđerovina, Rose, and Perast, if the price is reasonable, can be sold. For example, in Porto Montenegro, we achieved prices of up to EUR 12,000 per square meter for real estate, and in Portonovi, several One&Only villas were sold for more than EUR 10 million. That is truly good news for Mon tenegro. We are proving that we have such facilities in the market and that we can sell them, which further opens some new horizons and per spectives for investors. Also, we have in our portfolio everything that Sotheby’s group offers in the world that is very attractive to people when they visit us, especially apartments in London and New York, as well as houses on the Italian, Greek, and French rivieras – Laković says.

– We have noticed that we are getting more and more clients from those countries that knew the former Yugoslavia as a destination. As So theby’s, we manage to promote Montenegro in a special way and prove that our country is not as it used to be, but that it is developing into an entirely new lifestyle destination. In the future, I imagine it as a spa center for rich clients – he adds.

Laković sees infrastructure as the biggest weakness of Montenegro. – I hope that the tender for airports will be implemented so that some world operator could continue operating them and work on the seaside infrastructure, especially on the main traffic routes between Tivat, Bud va, Herceg Novi, Kotor… That is our main area, that’s where big projects are implemented and that’s where the real, big money is coming from. The highway to Kolašin opened as well, and if we connect it with the

highway to Belgrade, it will be a very important thing for us. We are happy that things are going in the right direction. Unfortunately, we are not a destination that has a developed economy, so we have to have real estate, tourism, or some atypical businesses – Laković says.

When asked how the war in Ukraine influenced the real estate mar ket, our interviewee said that around 25,000 Ukrainians now lived in Montenegro.

– A slightly richer class of Ukrainians arrived in our country and they truly pushed the market and raised the rent prices. Now the trend of growth recorded in the rent market influences the construction of new facilities, which is certainly a positive impulse for Montenegro. I am sor ry for everything that is happening in Ukraine, but I am glad that they found a sanctuary and a safe place here. We still have a large number of Russians coming, with whom we have excellent business relations. Rus sians have always had a strong interest in purchasing real estate, but it has been made very difficult for them because they can’t make payments – says eKapija’s interviewee.

Despite the crises and the events on the global level, the luxury real estate market in Montenegro is stable.

– The market is currently very strong and we expect a good trend in the future as well. The interest in Montenegro is stable and, when it comes to projects, I can see that Montenegro is valued as it is supposed to be. As I’ve already mentioned, people are aware of the advantages of living by the seaside, especially in resorts, and I am quite convinced that, in the future, there will be fewer and fewer traditional buildings and more settlements and resorts with additional features. It is simply a trend that all investors will have to follow – concludes Niko Laković in his interview for our portal.

Montenegro I Sotheby's International Realty Porto Montenegro, 85320 Tivat, Montenegro

M: +382 67 310 006

W: www.sothebysrealty.me

E: niko.lakovic@sothebysrealty.me

"In Porto Montenegro, we achieved prices of up to EUR 12,000 per square meter for real estate, and in Portonovi, several One&Only villas were sold for more than EUR 10 million. That is truly good news for Montenegro. "

WELCOME TO THE EXCEPTIONAL!

Discover Albania's heritage and history while staying at our relaxing and stylish Tirana hotel. Perfectly located for a blend of sightseeing and relaxation, the Radisson Collection Morina Ho tel, Tirana offers the best of both worlds. Enjoy an unforgettable stay just outside the city centre where you can relax near parks and beside the Grand Park of Tirana.

STEAK & ROOFTOP BAR

Take

flavour to the next level.

Located at the one of the most iconic commercial buildings of the city of Tirana, Aba Business Center, LIFT is about representing a concept of a classic and sophisticated steakhouse combined with style and vibes of a nightlife experience.

WE ARE EXPERIENCED IN HOSPITALITY SERVICES, PROPERTY MANAGEMENT, MARKETING, EVENTS AND MORE.

Located in the iconic Blloku area, SALT is a restaurant nicety percepted from the people behind the REVO group, which are deeply experienced in hospitality services, property management, marketing, events and more. Salt is about tasting the Mediterranean cuisine, seafood and sushi. It is a one-stop shop for food and beverage experiences, providing something for everyone from daytime, dining, nightlife and events.

Eat, Drink, Love

Padam Boutique Hotel and Restaurant, located in a beautiful classic villa in the heart of Tirana, is a unique landmark and point of reference for the Albanian capital The Padam concept was founded on a vision to create a one of a kind urban escape, tailoring exclusively to the guest and focusing on providing a luxurious and unique experience. Whether it be the warm and inviting high ceiling chambers of the villa or the colourful oasis of the surrounding garden and verandas, there is an ideal Padam experience for every season, all year round.

The Padam Boutique Hotel combines elegant Victorian style with modern interior design, amenities and services, to create a luxurious and excellent environment Our rooms are full of sunlight and surrounded by a wonderful garden. Padam is the right destination for food lovers

Our chef, Fundim Gjepali, chosen as one of the Top 10 Foreign Chefs in Italy, has masterfully chosen a menu to gratify all the tastes of our clients. Our menu brings the sophistication of mediterranean cuisine and selected wine list.

The Lounge Bar, situated in a spacious garden is a perfect place for having a night out or a chilly afternoon with eclectic musical backdrop. The bar offers classic drinks, creative cocktails and other concoctions in its recently renovated modern design.

Padam is also the ideal venue for private celebrations, corporate meetings and events Indulge in the Padam experience.

Padam Boutique

Beauty and The City offers more than 3,000 fragrances, cosmetics and self-care items.

The world's most amazing fragrances, cosmetics and self-care brands can be found at Beauty and The City. We take great pride in bringing the newest products from the top companies in Albania first. To provide you with an extraordinary experience at our stores, we are located in two of Tirana's finest shopping centers, TOPTANI and Tirana East Gate (TEG).

We are delighted to have you visit our shop and we are happy that our products will be a part of your wonderful journey!

Please reach out to us at our online media channels!

Instagram: beautyandthecity_parfumeri

Facebook: Beauty and The City Parfumeri

Email: beautyandthecity2011@hotmail.com

INSURANCE AS AN INVESTMENT IN THE FUTURE

Changes in today's private life and business environment require dealing with various and numerous situations in the shortest possible time. We are faced with challenges that are unique and difficult to predict. It seems that an indis pensable factor of our success is consulting, which enables us to make the best decision that will protect our interests. The same applies to insurance. A responsible approach will guide us to protect our interests in such a way as to mini mize potential risks.

In this text, we will look at insurance as an investment that is very meaningful for a more secure future of each individual.

Today, insurance is considered one of the most attractive forms of in vestment in the world. However, we become aware of the benefits of voluntary insurance only after certain damage to property, health, or

unfortunately, life occurs. Insurance is a product that we are reluctant to buy because such a purchase does not result in something concrete for us as customers. It is a product that, most often, is not bought for pleasure, but even so, we must see it as an advantage, as a responsibility to oneself, one's family, one's property, and regarding certain products with a savings component - also as savings.

INSURANCE THROUGH HISTORY

The first forms of insurance appeared in the early human community within the tribe, and later in the family. The first danger humanity faced was famine, and as a measure of protection, there was a modest com pulsory contribution of grain during the years when the harvest was the richest.

The first risk transfer or risk distribution methods were practiced by Chinese and Babylonian merchants in the 3rd and 2nd centuries BC. Chinese merchants divided the goods among several ships to limit the

loss in case of the destruction of one of the ships. The Babylonians developed a system that was writ ten in the famous Code of Ham murabi in 1750 BC, which was practiced by merchants on Medi terranean sailing ships. If a mer chant took out a loan to finance his shipment, he would also pay the lender an additional amount as a guarantee that the lender would not seek repayment of the loan if the shipment was lost or stolen at sea. Therefore, insurance is the oldest risk transfer method that was developed to reduce trade risk.

The first known insurance contract was drawn up in Genoa in 1347; in the following century, marine insurance was widely developed, and the premiums were varied and determined intuitively. Property insurance was an outcome of the Great Fire of London in 1666, in which more than 13,000 houses were burnt. In 1681, the economist Nicholas Barbon and his eleven associates created the first fire protection company, „House Insurance Office“.

RISKS AS AN INTEGRATED PART OF LIFE

A life without risks is unthinkable. We all sometimes take risks and test our limits. People who try new things should learn to assess risk and act wisely. Namely, with very risky decisions, the probability of failure increases. For many people, risk represents some uncertainty about the outcome of a particular situation. Something may happen, and if it does, the outcome may be unfavorable for us. The word risk implies doubt about the future, as well as the fact that the outcome may put us in a worse situation than the one we are in at the moment. Traditionally, risk is defined as uncertainty of occurrence of a certain event that results in a loss. People can be insured against almost any possible risk - for a price. The decisive question is whether, while striving towards the goal, we recognize the dangers and risks, whether we assess them correctly and whether we take appropriate measures to act accordingly.

HOW CAN WE PROTECT OUR SELVES FROM RISKS WITH INSURANCE?

The word insurance in the broadest sense means safety, trust in something, protection, securi ty. Insurance implies the transfer of the potential risk of tangible and/or intangible loss from the insured to the insurer based on the in surance contract.

Protection in the sense of insurance means that the consequences of risks, which are the same or similar for many people, are divided among many parties. The basic idea of insurance is to help individuals who ex perience an accident. When everyone who is threatened by a possible danger takes up a certain share of the payment for the actual damages, then the damages can be compensated to the persons who suffered them.

VESSEL INSURANCE

The concept of vessel insurance can be interpreted very broadly, con sidering that different vessels used for different purposes on different types of waters can be the subject of insurance. And not only vessels, but also a whole series of other things that are connected with navigation, such as freight rates, costs, liability and the like. When it comes to ves sels, we distinguish between two basic types of insurance - compulsory insurance against liability when using the vessel and voluntary marine hull insurance of the vessel. The compulsory insurance policy covers damage caused to third parties by the use of the vessel and, on the other hand, damage caused to the vessel itself is covered by the hull insurance policy. Therefore, there is the possibility of insuring the hull, propul sion, equipment, plant, as well as inventory against the various risks to which the vessel may be exposed while used, of course, under the condi tion that the vessel is used for its intended purpose and in accordance with the law, i.e. that the damage did not occur intentionally or due to

Insurance implies the transfer of the potential risk of tangible and/or intangible loss from the insured to the insurer based on the insurance contract.

The concept of vessel insurance can be interpreted very broadly, considering that different vessels used for different purposes on different types of waters can be the subject of insurance. And not only vessels, but also a whole series of other things that are connected with navigation, such as freight rates, costs, liability and the like.

Courtesy of Porto Montenegro

gross negligence of the user. At sea, in addition to beautiful experiences, unforeseen events also happen – bad weather and accidents. In recent years, the number of vessels in use in the Mediterranean has significant ly increased. With increased maritime traffic, the possibility of maritime accidents inevitably increases. Although the occurrence of maritime ac cidents cannot be completely prevented, with adequate insurance, it is possible to significantly mitigate the consequences of those accidents.

AIRCRAFT INSURANCE

Aircraft owners, depending on their needs which most often arise from the purpose, but also the type of aircraft (they use the aircraft for their own needs, camera shooting from the air, aerial spraying, trans porting people, goods, or training of other people), contract different types of insurance related to the ownership of the aircraft and perform ing some activity with an aircraft. That is why it is important to be in sured with a policy that will cover the costs that may arise in the event of damage to the aircraft (both in the sky and on the ground), but also that will provide coverage if the use of the aircraft causes injury or dam age to its passengers or third parties. Casco insurance covers physical loss or damage that occurs on the insured aircraft, as well as the costs of transporting the damaged aircraft to the place of repair. By special agreement and payment of an additional insurance premium, the insur ance coverage can also be extended to cover damage to the aircraft that occurs during road transport.

PROPERTY INSURANCE

Property insurance is contracted when there is an interest of the insured to pro tect their property from potential dangers. The importance of property insurance is still insufficiently recognized, and the mi nority that is aware of the benefits of in suring their apartment, house, or weekend cottage - has a great advantage. In recent years, we have witnessed a large number of natural disasters such as fires and floods and their devastating impact. In addition to posing a threat to human lives, major or

minor natural disasters also pose a threat to our property. Apartments, family homes and other assets are acquired over generations and are of ten the main family investments. No one wants to see their family home go up in flames in a matter of minutes. In addition, other calamities are possible, such as hail, storms, water spills or landslides.

Natural disasters are unpredictable and cause damage that citizens cannot, or can hardly, compensate for. If we do not want to be left to our selves, our friends, the municipality, or the state in the event of damage to our property, it is necessary to insure ourselves in time, if we belong to a risk group. If there is a problem with a landslide or if we suspect that our residence or building that we use for other purposes will be dam aged by an unplanned flood, insurance companies offer flood insurance packages. Many factors influence the conclusion of a contract on home insurance - the number of household members, the household mem bers' paying capacity, the value of the property, the household members' education and the awareness of the importance of insurance. The higher the value of the property, as well as the household budget, the greater the need for insurance, and we can say it is compulsory because no one wants to lose the acquired wealth with no possibility of return.

In addition to natural disasters, the risk is also present in circumstanc es caused by human factor, such as burglaries or robberies. One thing is certain: climate changes slowly become our everyday life and affect the security of our property.

Main approach to one's own property is long-term planning. With long-term planning, owners are aware of expected, but also unexpected costs and responsibilities related to owning real estate. When the line is drawn, of course, a long-term planning approach will ultimately result in lower costs and better-maintained property.

The importance of property insurance is still insufficiently recognized, and the minority that is aware of the benefits of insuring their apartment, house, or weekend cottage - has a great advantage. In recent years, we have witnessed a large number of natural disasters such as fires and floods and their devastating impact.

The insurance sector covers a vast range of areas and a wide range of products and services. Some of them are well established and the awareness of their existence is there. However, in addition to this, there are sev eral other products with which we are maybe not familiar and which can provide us with significant security when transferring risk to insurance companies.

Courtesy of Porto Montenegro

where the rhythm of your heart

There is a place beats to the tune of the sea

ART, ARCHITECTURE, DESIGN & WELLBEING

BELGRADE WATERFRONT

A Symphony of Music, Art, Culture and Modern Living

As the first mixed-use de velopment in Serbia, which this year, for the third time in a row, was crowned with a prestigious European Prop erty Awards prize, Belgrade Waterfront creates not only a residential area tailored to the needs of modern resi dents, but also a new artistic hub and centre towards which creative people gravitate. Listening to the needs and wishes of the art community in general, Belgrade Waterfront man aged to create KvArt, a powerful platform for contemporary Serbian artists and enable them to showcase their latest works in a unique ambient on the riverbanks of Sava.

Owing to this platform, the Serbian capital can now boast of an extremely high-quality art scene that places Belgrade "side by side" with the most prestigious world destinations. Residents, visitors, but also tourists have been enjoying in the newly improved art scene at Belgrade Waterfront for years now.

kvART

The cultural and artistic initiative kvART Belgrade Waterfront was launched with the idea of supporting the contemporary Serbian art scene and, as one of the bearers of creative energy in our capital, of bringing together in one place painters, designers, musicians, actors, dancers and numerous other artists and innovators who find inspiration in the unique synergy of Belgrade and Sava.

Exhibitions of paintings by the most important local contemporary artists have become the trademark of the kvART initiative over the past years, which every month attracts art lovers under the arches of Galerija, the largest regional destination for shopping, dining and entertainment. With the quality, innovation and exceptionality, these exhibitions have

stood out over time at the very top of the cultural offer of the Ser bian capital.

As part of this initiative, the largest Art Competition in the re gion was launched, where partici pants propose creative solutions for art installations, sculptures and contemporary furniture. The most creative ones will, in addi tion to big cash prizes, get the opportunity to exhibit their works of art indoor and outdoor within Belgrade Waterfront.

ARTWORK INSIDE BW BUILDINGS

"Art is not what you see, but what you make others see", once said the great French artist Edgar Degas. Wanting to enable residents to see con temporary works of art by local authors, Belgrade Waterfront offered the best ones the opportunity to decorate the lobbies of BW buildings with their works. Thus, the paintings by Vuk Vuckovic enrich the everyday life of residents in BW Residences, while paintings by artist Marko Kus muk can be found in the lobby of BW Magnolia. With the beauty and originality, they fit perfectly into a very pleasant interior that consists of a reception desk with concierge service, as well as comfortable seating.

MUSICAL SPECTACLES ON THE WATER

The first Belgrade River Fest, held in July of this year, without any doubt moved all standards when it comes to the organization of music festivals in our country, because what could be seen and heard during those two warm summer nights was nothing but pure musical magic. The famous Italian tenor Andrea Bocelli and the Portuguese fado diva Mariza reached the starry sky above the Sava with powerful and luxuri ous voices and made this summer unforgettable for many fellow Bel grade citizens.

Another musical spectacle that once again confirmed that the Bel grade Waterfront has become the cultural epicentre of the Serbian capi

The famous Italian tenor Andrea Bocelli and the Portuguese fado diva Mariza reached the starry sky above the Sava with powerful and luxurious voices and made this summer unforgettable for many fellow Belgrade citizens.

tal was the performance of the renowned world baritone Željko Lučić in the now traditional "Open Air Opera". Finding himself in the title role of Rigoletto in Giuseppe Verdi's opera of the same name, Lučić, with the support of a special guest from Italy, Alida Berti, showed the many spectators gathered on the plateau behind the Geozavod just a fraction of the magic with which he enchanted the audience at the Metropolitan Opera in New York, Milan's Scala or the Royal Opera House in London. This year's magical summer by the river was completed by the Dan ish cellist and marathoner Toke Moldrup with his unusual musical and sports performance. During the grand finale of the jubilee 10th ArtLink festival on Sava Promenada, he ran an incredible 36 kilometres, and after every kilometre he would stop to play one movement of the Bach Suite. In this way, he played all six of Bach's cello suites. The charismatic cel list, the "man of tomorrow", as he was proclaimed by the world media, enchanted all those who walked by the Sava River on September 24 with his unique energy.

By organizing these unique events in an open space by the river, in the middle of an urban environment, Belgrade Waterfront brought a completely new and previously unseen feeling of enjoying music in our region, which, as it turned out, in contact with nature creates real artistic magic and beautiful memories that are remembered whole life.

ADMIRAL OPEN AIR CINEMA

On a large film screen placed on the beautiful green plateau in front of Galerija, this summer cinema lovers could enjoy screenings of an thology film classics and blockbusters in the Admiral Open Air Cinema completely free of charge. Comfortably placed in numerous deckchairs and lazy bags, film buffs could watch "Casablanca", "Murder on the Ori ent Express", "Bohemian Rhapsody", "The Da Vinci Code", "The Great Gatsby", "Django Unchained", "Alien" and numerous other hit come dies, thrillers, dramas and animated films. “A summer to remember", as the Open Air Cinema was announced, fully justified its description as it was the hottest season in Belgrade.

Comfortably placed in numerous deckchairs and lazy bags, film buffs could watch "Casablanca", "Murder on the Orient Express", "Bohemian Rhapsody", "The Da Vinci Code", "The Great Gatsby", "Django Unchained", "Alien" and numerous other hit comedies, thrillers, dramas and animated films.

RESTORATION OF "BRISTOL"

In addition to providing high-quality cultural and artistic content to residents and visitors, Belgrade Waterfront makes great efforts when it comes to preserving the architectural heritage of the Serbian capital. After restoring the facade of the magnificent building of the Belgrade Cooperative and renovating the Sava Square, Belgrade Waterfront start ed major works on the restoration of the facade of the "Bristol" hotel, a symbol of those romantic times and a masterpiece work of the famous Serbian architect Nikola Nestorović.

In order to restore the damaged and preserve the existing elements of the luxurious facade architecture on this anthological example of the late Belgrade Art Nouveau Style, Belgrade Waterfront, in cooperation with the Belgrade City Institute for the Protection of Cultural Monuments, hired 16 graduate sculptors and painters and as many as three of the remaining five high-class sculptors in Serbia, which is very illustrative of how much attention was paid to the renovation of the hotel in Karad jordjeva Street.

After restoring the facade of the magnificent building of the Belgrade Cooperative and renovating the Sava Square, Belgrade Waterfront started major works on the restoration of the facade of the "Bristol" hotel, a symbol of those romantic times and a masterpiece work of the famous Serbian architect Nikola Nestorović.

Exhibitions of paintings by the most important local contemporary artists have become the trademark of the kvART initiative over the past years, which every month attracts art lovers under the arches of Galerija, the largest regional destination for shopping, dining and entertainment.

FROM THE DIRECTOR

In this ad we will give you a brief insight into what we can offer you as a parent seeking a high-quality education for your child here in Belgrade.

Choosing the right school for children has become almost a nightmare for parents. As a parent myself, I know that, in essence, parents want their children to achieve to the best of their ability, attain high academic grades, be happy, safe and secure in school, as well as create long-lasting friendships. Parents are often consumed by haunting questions such as:

• How to provide our children with the best education?

• Which school will help them discover their talent?

• Which school will nurture our children's future?

• How will the school help our children grow into confident and capable adults ready to take on the world? The answer to all your questions lies here at PRIMA International School!

Ms Brigitte Petrovic Director

WELCOME

“Walk with me and you will quickly find there is something special about our school. Some people say it is our spirit; others see it in the way we live our values.”

We are a successful and happy school!

PRIMA International School offers its students the best of a British and international education in a setting that is nurturing, safe, and stimulating for all families seeking the highest quality education for their children. It consists of Preschool, Primary and Secondary departments.

PRIMA International School is an accredited Cambridge Assessment International Education Centre, fully recognised by the Ministry of Education, Science and Technology of Serbia, and, as such, has gained a reputation as a serious educational institution here in Belgrade.

PRIMA International School is also a member of COBIS, a membership association of British International Schools of global quality.

Early Childhood at PRIMA International PRESCHOOL Department

Take a closer look…

Our engaging environment and rich variety of resources only set the scene for what you can expect to find on any given preschool day. The real magic is in the sense of warmth, responsiveness and respect we generate between children, teachers, and parents.

In keeping with the Department for Education’s guidelines, our curriculum covers the Foundation Stage of the National Curriculum which is designed for children from 2-3 years of age and is based on six main areas:

• Personal, social and emotional development

• Communication, language, literacy

• Knowledge and understanding of the world

• Creative development

• Physical development

• Mathematical development

Developing skills and self-confidence at PRIMA International PRIMARY Department

Reception Class and Year 1 to Year 6

“Just like every seed has the potential to become a forest, every child has the ability to grow into a great personality.”

Reception is the first year of Primary School at PRIMA International School. It is preceded by Preschool and followed by Year 1.

At PRIMA International Primary School we have adopted the Cambridge International Primary programme. This programme gives schools throughout the world the proper framework to develop mathematics, English and science skills and knowledge in young children.

The Cambridge Primary Curriculum Framework provides a natural progression through six stages of Primary education, from Year 1 when children first enter Primary education (at the approximate age of 5) to Year 6 when they usually move on to Secondary education (at about age 11).

A step into any PRIMA Primary classroom quickly encounters the amazing community spirit we proudly celebrate.

Preparing your children for what lies ahead at PRIMA International SECONDARY Department Year 7 to Year 13

“The energy and laughter in the air speaks an honest truth; teachers and students enjoy being here.”

At PRIMA International School, Secondary students work towards the Cambridge International General Certificate of Secondary Education (IGCSE). This is a curriculum and assessment system suitable for schools and colleges around the world. In their last two years of Secondary school students prepare for AS Level and A Level examinations.

Our Secondary school consists of three stages:

• Lower Secondary school (Years 7 to 9 for 11 to 14 year olds)

• Upper Secondary school Years 10 and 11 for 14 to 16 year olds)

• AS and A Level (Years 12 and 13 for 16 to 18 year olds)

• PRIMA Secondary school will quickly become a second home to your children. It is the natural place where young adults explore and strengthen their personalities and embrace individuality.

10 Good reasons to make PRIMA your next school

• PRIMA is a supportive and child-centred environment.

• Our school community is truly international with over 45 different nationalities represented.

• We build strong relationships with parents.

• We believe great learning takes place in and outside of the classroom.

• Our building is purpose-built with science and IT laboratories, music and art rooms, a large track and field, a full size basketball court, a volleyball court, a real grass football court and an open-air summer stage.

• PRIMA successfully delivers a challenging Cambridge Assessment International Education programme which is a passport to the world’s best universities.

• Cambridge Curriculum quality in the classroom is our first priority.

• Our academic reputation attracts highly-experienced teachers with previous teaching experience from around the world.

• We work together to instil confidence in students and encourage all to become responsible, internationallyminded citizens with innovative minds.

• By visiting our school you will be able to truly appreciate the busy, warm and happy atmosphere created by the students and staff.

PRIMA International School is a vibrant and exciting school and we look forward to welcoming you!

CONTACT DETAILS

Campus Location: Dragana Mancea Street, Senjak, Belgrade Call us +381 11 369 08 25 +381 11 369 95 01 Contact us online prima.edu.rs info@prima.school

“Providing your children with a sound and secure education.”

MUST HAVE ACCESSORIES

ICONIC SENTIMENTAL JEWELS WITH A CHAUMET SIGNATURE

Jewelry from the Parisian Maison Chaumet has become a world-popular and favorite fashion accessory and a precious gift that starts new traditions. In search of jewelry that will last forever and mark special moments, the Jeux de Liens collection stands out, one of the most recognizable collections of this iconic French jewelry house.

JEUX DE LIENS

A decent and feminine collection, imbued with a deeper meaning behind its modern design, perfectly represents the connection between two people and marks significant life periods. Creations in luxurious 18-karat pink or white gold are easily recognizable by their unique crossed threads, enriched with sparkling diamonds of the highest category and a cheerful palette of colors that brings the most precious stones such as mother-of-pearl, onyx, and malachite.

Precious stones bring diversity and uniqueness to these sentimental creations and make them an exceptional and unmistakable detail of every outfit. The jewelry can be perfectly combined to achieve an intense look or worn alone for a simple and delicate style.

JEUX DE LIENS HARMONY

In the asymmetric spirit of the collection, the jewelry house also designed lucky lockets, Jeux de Liens Harmony –two pendant parts interconnected by diamond threads. The symbolic connection motif, the hallmark of this collection, are combined for the first time with an asymmetric circle, a beautiful allusion to the love that unites two people, two lives, and two personalities.

These symbolic lockets, available as necklaces and bracelets, can be engraved on the back with a special message of your choice for a unique gift and to immortalize a precious moment.

These symbolic lockets, available as necklaces and bracelets, can be engraved on the back with a special message of your choice for a unique gift and to immortalize a precious moment.

Jeux de liens diamond necklaces

MESSIKA LUXURY PIECES MEANT FOR ANY OCCASION

Since its origins, french Maison Messika has succeeded in combining the timelessness of the diamond with a modern touch, creating fine jewelry in a contemporary style to be worn every day. Each jewelry piece is developed around comfort to allow freedom of movement and sensual fluidity to one who wears them. The purest diamonds are combined with the most luxurious 18 ct yellow, pink, and white gold and precious colored stones in crafting these fine jewels to the profession's highest standards.

MESSIKA JEWELRY COLLECTIONS

Messika

jewelry has become an expression of a modern woman's personality, style, and self-confidence, giving her extra shine and enthusiasm. It encourages you to create your way of wearing jewelry by stacking your favorite pieces that match each other with ease, elegance, and inventiveness. Stacking is now a fashionable reflex that sublimates a gala dress and a simple black top in your unique way.

From timeless collections to dynamic and thrilling ones, all presented in the most attractive manner, Messika pieces have become planetary popular and are admired by the most influential women in the world. Messika's signature collection, Move, is characterized by movable diamonds inside the cage that appears in the lines of Move Uno, Move Classique, Move 10th, Move Noa, Move Romane, and Lucky Move. A complete turn in design came with the bold jewelry creations of the Glam'azone range that imbues exotic and feminine styles for a sensual and confident woman. Another collection of unique and recognizable designs is Lucky Eye, a range of diamond talismans that attract positive energy. The romantic message is hidden in the perfect alliance of the elegant emerald cut and the sensual pear cut with dazzling jewelry pieces from the My Twin collection, while collections Skinny and Gatsby embodies a timeless graphic minimalisam that becomes your most faithful ally and a wardrobe essential.

The Maison Messika sees women as the most inspiring muses. Sensuality, femininity, and desire are the words that serve as the mantra of Messika jewelry.

Messika Glam'Azone Double diamond ring

Messika Lucky Move Lapis Lazuli diamond ring

Messika Move Uno 2 Rangs Pavé diamond necklace

NEW TUDOR PELAGOS 39

An Irresistible Watch That Is Combination Of Sports Elegance And Urban Style

With its new Pelagos 39 model, TUDOR offers a versatile watch at the crossroads between the world of technical div ing and urban sophistication. The result is a sports watch that boasts cutting-edge watchmaking technology and a chic aesthetic, as at ease in the city and on the shore.

The Pelagos 39 model joins the TUDOR family of tech nical divers' watches with a versatile, complementary design. While the Pelagos, Pelagos LHD, and Pelagos FXD models perpetuate a purely technical aquatic heritage, of fering functions specific to highly specialized and relatively niche professional dives, Pelagos 39 is a compact and ver satile, traditional mechanical divers' watch with a touch of elegance created by the shine of the sunray satin finishes on its dial and the insert on the bezel.

The special features of this watch are the new case dimen sion, a satin-finished 39-millimeter case made in grade 2 tita nium, with a unidirectional ring and a sunray effect ceramic insert with Swiss luminescent material Super-LumiNova® X1

grade. This design perfectly complements the black satin dial with luminescent ceramic composite monobloc hour markers. Also, the face of the watch is decorated with recog nizable hands in the shape of "snowflakes", which are filled with Super-LumiNova® X1 grade luminescent material for better readability. In addition to the new case proportions, the Pelagos 39 is supplied with an entirely satin-brushed grade 2 titanium bracelet that is equipped with a TUDOR "T-fit" clasp for rapid length adjustment and diving extension. Also, the watch comes with an additional rubber bracelet with a grade 2 titanium clasp. Finally, this new TUDOR watch is powered by the in-house calibre MT5400 with a power reserve of about 70 hours and certified by the Swiss Offi cial Chronometer Testing Institute (COSC). Like every TUDOR watch, the new Pelagos 39 comes with a five-year transfer able warranty without the need for registration or periodic maintenance checks.

www.mamic.hr

While the Pelagos, Pelagos LHD, and Pelagos FXD models perpetuate a purely technical aquatic heritage, offering functions specific to highly specialized and relatively niche professional dives, Pelagos 39 is a compact and versatile, traditional mechanical divers' watch with a touch of elegance created by the shine of the sunray satin finishes on its dial and the insert on the bezel.

Embraced by two parks

With Tivoli Park on one side and Argentina Park on the other, the Schellenburg complex is both very near to the city and, at the same time, just far enough away from the hustle and bustle.

The most desirable address in Ljubljana

Ljubljana; the name itself comes from the Slovenian verb ‘to love’, so how could you not love it? A city that you fall in love with at first sight. Once bearing the title of the green capital of Europe, the city prides itself on the interweaving of urban style, with tamed and untamed nature on the outskirts. In the heart of Ljubljana stands the elite complex of Palais & Villa Schellenburg, which reflects the perfect duality of our city.

An idyllic saturday morning

On Saturday mornings, the inhabitants of Ljubljana like to congregate at Plečnik’s market, which is always full of fresh local vegetables and fruit. Friendly costermongers offer seasonal fruit; the spring months greet passersby with the enchanting scent of the year’s first strawberries. A stroll across the Triple Bridge, another architectural masterpiece by famous Slovenian architect, Jože Plečnik, reaching across the Ljubljanica river like the a lover’s arms, and always adding another beautiful picture to your phone’s gallery. Lounging in cafés is a national sport for those who know how to enjoy life and adhere to the principle of dolce far niente, i.e. the sweetness of rest. The gentle clinking of coffee cups, which echoes through the narrow streets like the melody of Ljubljana’s prestige, can be heard from the many small terraces.

Perfect duality

Not far from the hustle and bustle of the city, the centre of Ljubljana is adorned with the exquisite complex of Palais and Villa Schellenburg. The surroundings of the complex are embraced on one side by Argentina Park, and on the other by Tivoli Park, which lies at the foot of the forested Rožnik hill. The largest and most beautiful city park covers 5 km2, and offers sports fields and outdoor exercise equipment, many statues and fountains, and best of all, it is located right next to the Schellenburg complex. Next to a small pond, where turtles sunbathe on water lilies, artists and other artistic souls always find shelter in the well-known Čolnarna café, which is just a step away from the Tivoli rose garden.

The ultimate art of architecture

In Ljubljana, the city and nature truly live in harmony, a feat that other capitals can only dream of. After a walk through the green oases surrounding the city, world class art can also be found in the elite Schellenburg complex. The luxurious apartments are built for comfort, the highest quality of living, and meant to satisfy even the most discerning tastes that love art, superb architecture and beautiful nature.

TENERO FASHION - synonym for tradition, style and sophistication

Over the years, the Tenero Fashion brand has become the synonym for tradition, style and sophistication. A familyowned company is so much more than multi-brand stores. Tenero Fashion can be best described as a cultural bridge between Montenegro and Italy, offering only the finest Italian quality products, to the domestic market.

We are very proud of our brand partners including Kiton, Santoni, Ermanno Scervino, Moorer, Eddy Monetti, Corneliani, Jacob Cohën,Fratelli Rossetti, Fedeli, Finamore, Pal Zileri, Antonelli, Borsalino, Pollini, Herno, Sergio Rossi, MC2 Saint Barth and many more.

Following the tradition and philosophy behind these brands, we succeeded to be present in the most exclusive locations in Montenegro. We

also provide special tailor-made services to our clients, by renowned fashion houses such as Corneliani and Pal Zileri. In Podgorica, you can find us in four locations and in two locations in Budva. Also, our Tenero Premium store is just around the corner from the Regent hotel in Porto Montenegro. At Luštica Bay, we have two MC2 Saint Barth stores. Whereas in Portonovi you can find us as MC2 Saint Barth and Tenero.

Our impressive brands and locations are complimented by a shopping experience at the highest level. Tenero has slowly become a domestic leader and we are taking a significant place in the regional market also.

Visit us and enjoy our impeccable service and find the best selection of ‘Made in Italy’ brands.

Santoni - handmade shoes and accessories, representing the true excellence Made in Italy. Santoni winter essential meets hiking inspiration, updated with a bold touch of color. Elevate your off-duty look in the city and on the slopes with the new Santoni women's boots with combat sole.

MooRER, a brand that is synonymous with light, precious materials and pure Italian elegance filled with unexpected details, will tell the story of a company from Veneto founded in 2006 by Mr. Moreno Faccincani. This brand stands out from other brands by a sophisticated blend of Italian elegance and functionality. MooRER jackets are made to be practical and adaptable to different styles, it meets all the most demanding conditions, even those people with refined taste. The MooRER brand’s range includes a comprehensive selection of clothing – from jackets for severe weather conditions and coats to lightweight casual jackets perfect for everyday use with the addition of a knitwear program, denim and footwear.

Santoni

Santoni

Moorer

Moorer

Pal Zileri provides a Made to Measure service, the brand's ultimate expres sion of personalisation. It is not a collection but rather a range of offers for different types of men that transcends age and lifestyle. This tailoring ap proach stems from savoir-faire that has been handed down from one gen eration to the next and is designed to satisfy a wide clientèle with diverse requirements.

Corneliani offers a thorough made-to-measure ser vice that is the ultimate expression of customisation and the desire to offer an authentic, distinctive and never standardised experience in which the tradi tion and value of Made in Italy evolve together with the tastes, rhythms and scenarios of the global life style.

Pal Zileri

Kiton - The Suit, the epitome of elegance

Soft fabrics and unstructured forms enable the quintessential garment of formal menswear to be reinterpreted with a touch of nonchalance. A more informal style for the contemporary gentle man who seeks to enhance his own elegance with a comfortable, casual attitude.

Only one hundred pieces per day for 25 hours of work to ensure the highest quality and obsessive attention to every detail. Each suit is hand-cut and tacked, without using a machine. The har mony is provided by the deft touch of the artisan who eliminates, almost as if by magic, any imper fection that all human bodies inevitably conceal. Once the suit is completed, it is ironed with vin tage irons, each weighing 8 kg, according to the classic combination of a “wet cloth and a hot iron” to give the fabric all its natural softness.

Originally designed as denim collection made in Italy where the most pop fabric in history for the first time was proposed as status symbol, thus anticipating the concept of casual look that would soon become a must, Jacob Cohën has always combined continuous stylistic research and skillful artisanal expertise, exclusive quali ty and excellent comfort. Today the brand is the reference point of a daily luxury intended as a way of thinking, living, dressing. Luxury denim, which means luxury lifestyle.

From the timeless five pockets, the denim cropped and the truckers, Jacob Cohën’s aes thetics is characterized by the almost obsessive attention to details including jewel buttons, iconic salpe and sartorial finishes carefully finetuned by the company’s artisan workshop. The search for the highest quality raw materials, including the best selvedge fabrics and the pre cious japanese denim, is still the driving force of the brand, which over the years has applied its luxury attitude to the creation of total look for women and men.

An authentic Italian spirit with roots in the traditions of craftsmanship that serves as the life force for unique pieces that em body the dynamic, international spirit of the modern woman. In this way, Ermanno Scervino was behind the sublime blend of haute couture and prêt-à-porter, creat ing the new concept of couture-à-porter, where know-how intertwines with creative experimentation and cutting-edge technol ogy in the name of excellence.

Ermanno Firenze was born in 2020 from the desire to use the sartorial experience, craftsmanship and constant drive for ex perimentation of the Maison in a collec tion composed of small precious pieces a young woman can wear on any occasion of her day. Ermanno Scervino thinks of an urban figure, i.e. the protagonist of con stantly evolving metropolitan life.

Jacob Cohën

Kiton

Fedeli Fedeli

Since 1934 when Luigi Fedeli founded his eponymous brand in Monza, Fed eli has remained in constant pursuit of artisanal excellence. Quality remains the key to Fedeli's success - from their roots in fine tailoring, to the interna tional role in luxury fashion.

Borsalino

Borsalino, the oldest Italian manufacture specializing in the produc tion of luxury hats, is universally known for its extraordinary qual ity, unmistakable style and timeless elegance.