Montenegro is set to invest over €30 million in a significant redevelopment of the waterfront promenade and marina in Budva, enhancing the coastal investment initiatives aimed at bolstering tourism and public spaces. The project is being spearheaded by the coastal-management company Morsko dobro, in collaboration with the government and the Ministry of Spatial Planning.
The redevelopment will encompass an international architectural competition, focusing on the coastal area that extends from Budva’s Old Town to Zavala and Rafailovići. The designated planning zone covers approximately 42.7 hectares, which includes around 15.8 hectares of land.
Plans for the redevelopment include the creation of pedestrian and recreational spaces, alongside cultural and commercial facilities, as well as an expanded marina. Submissions for the architectural competition are due by December 15, with results anticipated shortly thereafter.
Currently, the project is in the planning and design phase, with the €30 million investment figure reflecting projected costs rather than a finalized construction contract. This initiative aims to tackle one of Budva’s primary challenges: the imbalance between rapid tourism growth and the existing public infrastructure’s quality and capacity.
A more organized marina could enhance Budva’s appeal in the lucrative nautical tourism sector, which currently sees Tivat and the Bay of Kotor offering superior infrastructure. This promenade investment aligns with other substantial projects underway or planned within the municipality, such as improvements to the Budva bypass and parking facilities.
Morsko dobro has also indicated that over €300 million has been secured for broader development projects in Budva; however, this figure should not be conflated with the waterfront redevelopment initiative. A key consideration will be whether this redevelopment enhances Budva’s tourism offerings without exacerbating pressures on its already developed coastal areas.
If successfully executed, this project could emerge as one of Montenegro’s largest urban tourism infrastructure developments outside of major resort areas.
