Tivat is a coastal town in southwest Montenegro, located in the Bay of Kotor. which is the smallest municipality by area in Montenegro.Porto Montenegro is a luxury yacht marina and adjacent waterfront development under construction in Tivat, Montenegro.Porto Montenegro MarinaThe 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 attractive 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.
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