The Royal Family
Prince Nicolas Petrovitch Njegosh: Investing for a “responsible” tourism
Translated and adapted from the original article by Nikola Perković, in Pobjeda, May 6, 2007, Podgorica, Montenegro
Published from Chaumont (France) by POLN, on Sunday May 6, 2007 @ 23:40 CEST
See online: Pobjeda|co.me
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See online: Pobjeda|co.mePage hitted 5317 times |
A delegation of foreign investors led by H.R.H. Prince Nicolas Petrovitch Njegosh, came to Montenegro on Saturday May 5, 2007. Their objective? To see by themselves results of some investments engaged for a year now in Montenegro to promote an ecological and “responsible” tourism.
Cetinje, May 5, 2007 — A delegation of foreign investors including members, close relatives and collaborators of descendants from the Petrovitch Dynasty, came to visit Montenegro. After visiting King Nikola’s Palace in Cetinje, the Mayor of the old Royal Capital, Dr. Milovan Janković, received the group of about fifteen persons headed by H.R.H. Prince Nicolas II Petrovitch Njegosh in the Vladin dom, the former House of the Royal Government.
Besides Crown Prince Nicolas, the delegation included H.S.H. Dmitri Romanovich Prince Romanovsky-Cheremetev [1], with his wife Dorrit Reventlow — grandson [2] of Princess Milica Petrović Njegoš who married Pjotr Nikolaevich Romanov Grand Duke of Russia, grandson of Tsar Nikolaï I Pavlovich — and Alessandro Grimaldi, close cousin [3] of Albert II Grimaldi, Sovereign Prince of Monaco. There were accompanied by about ten investors, among them a representative from the Fleming Bank, founded by the family of famous British novelist Ian Fleming, creator of James Bond 007. The trip of this prestigious delegation was organised by the Monaco office of the Bahamas-registered real estate investment company Boka Fund Ltd. [4] , in close co-operation with the “Montenegro Stars Hotel Group” and its co-owner Žarko Radulović.
“Boka Fund Ltd. has been present in Montenegro for more than a year with several projects. Now the delegation comes to see what has been achieved, and to view new projects for future investments. We wish to invest in high-end touristical and ecological projects. Investors come in general from Monaco, and they well-know what does investing in high-end touristical projects mean. Up to now, investments in Montenegro were generally limited to purchase attractive plots”, John Kennedy, co-founder of Boka Fund Ltd. [5], said. “The realisation of these projects will start in October 2007. Until then, we still have to do all what is necessary to obtain the required approvals and building licences. We planned the construction of modern summer houses in accordance with ecological standards, and an apartment complex above Sveti Stefan and Hotel Splendid at Becici. We also have in preparation a significant investment project between Tivat and Kotor. It will be a touristical-residental complex. Investors interested in this project are coming to Montenegro on Monday, May 7. Another project is planned at the entrance of the Lovcen National Park. There are several projects more, but presently they are uncertain”, John Kennedy explained.
Mrs. Christie Prenn, an investor from Monte-Carlo, did not hide her enthusiasm with Montenegro’s beauties, that she discovered for the first time.
“I’m extremely impressed! Montenegro is a unique place. People are in high spirits, hospitable and sincere, and nature is extraordinary. It’s the first time I come to Montenegro, but I have already invested here by the way of Boka Fund Ltd. Now I come to see the country by myself, and I’m glad to invest here. We have decided to invest in this marvellous country because we engage ourselves in ecological and cultural projects”, Christie Prenn said. “Monaco is a state which has adopted the highest ecological standards and which constructs buildings together with our Prince. It’s exactly what I have noted in Montenegro, a very young country, at the same time an ecological state. Projects in which we invested, are in general on the seaside, but I hope that we will have the opportunity in a near future to invest in projects in other parts of your marvellous country. I heard that there are exceptional mountainous landscapes, which are both attractive in summer as well as in winter.”
Planned investments are between €50 to €100 million by project. Some of them will exceed this amount, but then they will be under a special regime of investing.
Prince Nicolas II Petrovitch Njegosh is engaged in Boka Fund Ltd. as Consultant Architect. He, together with John Kennedy, directed significant investors toward Montenegro. He especially underlines significance of the way how to construct in Montenegro. He above all engaged himself for a recognisable architecture, distinctive for this area and applicable in all times, not only for shorter period. “We opted for an ecological architecture.
We are trying to use in our projects only natural materials — stone and wood, as well as to maximise the use of natural energy sources, particularly sun. My task is to advise investors to build here constructions which are in adequation with its space, and not, as some announcements said, a ‘Dubai on the Velika Plaza near Ulcinj’ [6]”, Prince Nicolas said.
This evening, in the restaurant “Window of Montenegro” of Hotel Splendid at Becici, a formal dinner is to be prepared for the members of the delegation, who will be received on Monday in Kotor by Mayor Marija Catović.
[1] Excerpts from the official website of the Russian Imperial House: “All other descendants of Members of the Dynasty are morganatic descendants who do not enjoy rights to the throne and do not belong to the Russian IMPERIAL House (Articles 26 and 188 of the Fundamental Laws of the Russian Empire). The so-called “Romanov Family Association”, which is now made up exclusively of morganatic descendants of Members of the Russian IMPERIAL House and is headed by Nicholas Romanovich “Romanov,” the morganatic son of the Prince of the Imperial Blood Roman Petrovich, is an organisation that is entirely private and has no foundation whatsoever in the Fundamental Laws of the Russian Empire.”
[2] Morganatic son of the Prince of the Imperial Blood Roman Petrovich (º1896, †1978).
[3] “bliski rodjak Princa Alberta II Grimaldija”, translated as written in the original article by Nikola Perković. “Grimaldi” is a very common surname, especially in Italy; there are many, many Grimaldis without any connection at all with the Lords of Monaco and Menton — some of them are noble, most not. If the person in question is in any way related to Monaco Grimaldis, then his cousinship is separated by at least 20 generations.
External link: Grimaldi.org.
[4] Boka Fund Ltd. is a Bahamas-registered real estate investment company, founded in 2005 and operating from London (GB), Monte-Carlo (MC) and Budva (ME). The Fund is regulated and licensed by the Securities Commission of the Bahamas as a Professional Investment Fund pursuant to Section 3(a)(1) of the 2003 Investment Funds Act (ISIN N° BSP1719X1187; CUSIP N° P1719X 11 8).
Boka Fund’s Board of Directors is formed of the Highest Officers of the Royal House of Montenegro:
• John Kennedy, co-founder: Grand Chancellor of the Royal House Orders;
• John E.J. James, co-founder: Grand Prefect of the Royal House Orders;
• Simon Piggott, director: Monaco Delegate of the Order of Danilo I.
>>> UPDATE: Following to an update of the webpage “About :: Management” on Boka Fund’s internet site (UK), Messrs. Kennedy and James are no longer referred to as “co-founder” (like at the time of this article) but now as “fund advisor”: both are still responsible for day-to-day fund management, but they are now depending on the agreement by a committee prior to making an investment. Mr. Piggott is now referred to as member of this Investment & Oversight Committee.
[5] Co-founded with John E.J. James (GB).
[6] Referring to various idea projects for the 12-kilometre beach called Velika Plaza
, South-East of Ulcinj, in order to build there a luxury tourist resort that would turn the country into a “new Dubai on the Adriatic”. Main rivals on this project are: British billionaire owner of Chelsea FC, Mr. Roman Abramovich (right); the Hungarian company Trigranit, whose owners are Dr. Sandor Canji (HU), Mr. Peter Munk (CA), Hon. Nathaniel Philip Rothschild (GB) and Mr. Sandor Demijan (HU); and an investment company owned by rulers of the United Arab Emirates.
>>> UPDATE 1: On December 9, 2006, Prince Nicolas Petrovitch Njegosh formally denied on the French website of “Le Courrier des Balkans” to be in contact with “celebrities of showbiz in Montenegro”, in reference to a London press campaign (started after the confidence of an anonymous London friend of the Prince to the Daily Express) saying that he was “helping turn the area into the next Monaco” and was “talking to Russian billionaire Roman Abramovich with a view to encouraging him to buy a property” in Montenegro.
See online: “Can Catherine Zeta-Jones rescue a whole country ?”.
>>> UPDATE 2: On February 27, 2007, in a written reply to the London “Sunday Telegraph”, Mr. John Mann, Head of Public Relations at Millhouse LLC (Moscow) — the investment and asset management company of Roman Abramovich — categorically denied Mr. Abramovich was seeking “to build a luxury tourist resort in Montenegro.”
Almost one year later, on February 29, 2008 in “The Montenegro Times”, Mr. Mann confirmed again his previous statement, pointing Mr. Abramovich never sought to “turn the country into a new Dubai” or to “purchase property in Montenegro”. He also denied the Russian billionaire had any contact with the law firm of leading Montenegrin lawyer Dragan Prelević, saying “neither Mr. Abramovich nor anyone representing him has ever conducted business with Dragan Prelević or Prelević’s law firm.”
With our sincere thanks to the Editorial Staff of Pobjeda and to the author.
Photograph credits: © DR 2007.
[01.05.2012] Atelier d’information UbiFrance : “Europe du Sud-Est/Balkans, une zone en devenir européen” (25 janvier 2012, Paris, France)
[01.25.2012] H.R.H. Crown Prince Nicolas Petrovitch Njegosh expresses alarm over the decrepit state of King Nikola I’s Palace in Nikšić (Montenegro)
[12.23.2011] S.A.R. le Prince Héritier Nicolas II apporte son soutien à Rambo Amadeus, candidat du Monténégro au concours de l’Eurovision 2012 à Bakou en Azerbaïdjan
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