Porto Montenegro is a luxury yacht marina and adjacent waterfront development under construction in Tivat, Montenegro.The construction site was a naval shipyard named Arsenal, which fell into disuse after the breakup of Yugoslavia and the decline of the Yugoslav Navy. The lot on which the shipyard is situated was put on public offering in 2006, and was bought by Canadian businessman Peter Munk. It was acknowledged in 2008 that he was not alone in the venture - while Munk owns 54% of the Porto Montenegro company, the rest is owned by Oleg Deripaska, Nathaniel Rothschild, Jacob Rothschild, Bernard Arnault, Sandor Demijan and Anthony Munk.Munk announced that he intends to build a luxury yacht marina and a waterfront community, which would cater to needs of growing community of superyacht owners. The position of Tivat in the secluded part of the Bay of Kotor, together with the proximity of Tivat Airport, makes it favourable location for a marina.The marina will have berths for 650 yachts, 150 of them super yachts, up to 150m long. These will be part of a full-service community of luxury apartments, shops, restaurants and other sports and entertainment amenities.