Colliers exclusive agents for biggest mixed-use project in Montenegro (ME)

Colliers International Montenegro has announced that it will be the exclusive agents for Atlas Capital Center, the biggest mixed-use project in Montenegro. The joint venture in the capital Podgorica is by Atlas Group and Capital Investment of the United Arab Emirates, and will feature residential, retail and office units.

The total built-up area of the project will be 85,000 m² on a land area of 13,850 m². It will feature 28,550 m² of office space, 13,750 m² of residential space and 13,900 m² of retail space. Colliers International Montenegro will be the exclusive agent for the leasing and sale of these units. There will also be 31,529 m² of garage space, with 1,112 parking spaces.

Atlas Capital Center will be located in the Central Business District (CBD) of Podgorica on Cetinjski Road. The area is considered the most prestigious and desirable business and residential area in the capital due to its close proximity to downtown and its great accessibility. The center is set for opening in 2010.

Atlas Group is one of the biggest names in real estate in the region. Vuko Dragasevic, Executive Director, commented, "We are delighted to be undertaking this landmark joint venture project with Capital Investment, our strategic partners in few projects in the region, and for the leading international property consultants Colliers International to be the exclusive agents."

Jassim al Siddiqui, Investment Manager for Capital Investment, added, "We believe Montenegro has great potential for investment and we are very pleased to be working with such reputable partners on this key project."

Andreas Marambos, Managing Director for Colliers International Montenegro, concluded, "This is a major project for the future of Podgorica and an extremely exciting one for us commercially, we believe it will be a huge success."

Source: Colliers

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