From Foundations to Futures: Briv Redefines Montenegro’s Coastline
From engineering expertise to luxury hospitality, Briv is driving the next chapter of coastal development in Risan and beyond.
Founded in 1990, Briv Construction has been a constant in Montenegro’s development story for 35 years. The company built its reputation across three main sectors—construction, residential housing, and energy—establishing a stronghold in marine and hydrotechnical works. Its portfolio includes some of the country’s most recognizable coastal projects, such as phases of Porto Montenegro, Portonovi, and the Regent Hotel. These achievements positioned Briv as a leader in specialized marine and coastal engineering but also laid the foundation for a natural pivot into tourism.
To consolidate that expansion, Briv recently established a dedicated sister company, Briv Hospitality, which now manages all of the group’s tourism and hotel ventures. The creation of Briv Hospitality marks a major strategic milestone, allowing the company to grow beyond construction and evolve into a vertically integrated developer, operator, and hospitality brand builder.
That transformation is now gathering pace under CEO Petar Djakonović, who has been leading the company for nearly two years after a long career in consultancy. He brings a fresh approach, using his management expertise to modernize operations and prepare Briv for its next phase. “We want to grow organically and to change internally, becoming a modern company while keeping and benefiting from the knowledge of the engineers who have been here for decades,” said Djakonović.
Petar Djakonović - CEO Briv Hospitality
Montenegro’s small market size poses challenges for specialization, making diversification essential. Briv has responded by balancing large infrastructure contracts with high-end developments. Now, with tourism positioned as a national growth engine, the company is leveraging its engineering heritage to expand decisively into hospitality.
Mövenpick Hotel & Residences Teuta Kotor Bay: A Game-Changer for the Bay
The centerpiece of this strategy is the Mövenpick resort in Risan, the oldest settlement in Montenegro and a town steeped in cultural heritage. The five-star project combines a luxury hotel and branded residences, with a private sandy beach on the Bay of Kotor—an area protected by UNESCO for its unique natural and architectural legacy. The project has already attracted strong investor interest, with more than half of the residences sold to date.
Briv is developing and financing the project independently, under a 20-year franchise agreement with Accor Group. The brand Mövenpick was chosen not only for its global recognition in food and beverage but also for its sustainability standards, a key requirement for building in such a sensitive environment. The company is committed to building carefully, using local materials wherever possible and designing projects that harmonize with the surrounding landscape.
This attention to heritage and sustainability is a differentiating factor for Briv. Many of its projects blend seamlessly with their environment, whether through traditional stonework or scaled designs that respect local architecture. For Risan, the resort is expected to be transformative, similar to how Porto Montenegro put Tivat on the international map. But unlike earlier projects led by foreign investors, Mövenpick Teuta Kotor Bay is fully local—conceived, financed, and executed by Montenegrins.
“Our buyers are not just clients, but partners in the project,” Djakonović explained. Residence owners can choose to participate in a rental pool program managed by Briv Hospitality, while enjoying full access to the resort’s amenities, from spa and gym to private beach and loyalty membership benefits across Accor’s global portfolio. Investors are projected to earn a return of 20-23% within three to four years, while property values are expected to appreciate by 20–25% as Risan gains visibility.
Local Value and PPP Potential
Beyond the private investment, Briv is actively engaged in local development and public-private partnerships (PPPs). The company has carried out small-scale but impactful projects such as school renovations when no other contractors stepped forward. More strategically, it is seeking to establish PPPs with municipalities, particularly in Kotor, which holds nearly 90% of Montenegro’s cultural heritage assets.
The goal is to expand Risan’s year-round appeal beyond seasonal tourism. By partnering with the local municipality, Briv plans to redevelop cultural infrastructure, including congress halls and event spaces, to create opportunities for business and cultural tourism in the winter months. “We see ourselves as one of the first hotels in Boka Bay able to provide a strong congress tourism offer. Our vision extends beyond the hotel itself – we aim to establish a Destination Management Company and, in partnership with the local municipality, develop conference facilities that would position Risan as a year-round platform for business and cultural tourism,” said Djakonović.
This alignment of private and public priorities strengthens Briv’s appeal as a local partner for global brands and investors. “We would like to be recognized as a potent local partner, both in construction and hospitality, a one-stop shop for international investors entering Montenegro,” said Djakonović. Transparency and trustworthiness, he added, remain the foundation of Briv’s business model.
Looking Ahead
Hospitality will become the company’s main growth engine in the coming years, with Djakonović focusing exclusively on Briv’s hospitality brand once Mövenpick Hotel & Residences Teuta Kotor Bay is operational. The resort is scheduled to open in May 2026, timed to coincide with the start of the tourism season. In parallel, Briv is preparing its next large-scale project: a mixed-use development combining residential zones, retail, office space, and a congress center anchored by a large park.
This reflects Djakonović’s conviction that Montenegro must diversify its economy beyond tourism, attracting not only seasonal visitors but also long-term residents, remote workers, and businesses. “Tourism cannot be the only generator of economic growth. We would like to be the initiator of projects that help Montenegro grow as a place to live and work,” he said.
With a proven track record, a strong pipeline, and an ability to deliver both technically demanding infrastructure and lifestyle-driven hospitality projects, Briv is positioning itself as a catalyst for Montenegro’s next chapter. For investors, the combination of luxury branding, local credibility, and long-term vision presents a compelling proposition.
“We are proud to be delivering Montenegro’s first five-star resort developed entirely by local investors,” Djakonović concluded. “This project will change Risan, and we welcome international partners to join us in shaping the future of the Bay of Kotor.”
