Decidedly dry Dubai has made a substantial investment in the aquatic luxury lifestyle. The National reports that the Investment Corporation of Dubai (ICD), the investment arm of the United Arab Emirates government, has agreed to purchase the Adriatic Sea-based Porto Montenegro for $228.5 million. Porto Montenegro, which we identified last year as one of the “new yachting hotspots,” is located in the Bay of Kotor, a world-heritage site, and enjoys a spectacular natural landscape as well as historic architecture. The marina features 450 berths, with plans to reach 800 berths, and currently includes 227 luxury residential units spread across seven complexes.
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