Business EnvironmentMontenegro construction sector potentials

Montenegro construction sector potentials

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Construction is one of Montenegro’s key economic growth sectors. It offers opportunities for companies in luxury properties, holiday real estate, administrative buildings, and trade outlets. The tourism sector also fuels growth in construction..

Relatively stable economic conditions and new investments in construction have contributed to the expansion of the building materials market in Montenegro. In particular,Montenegro’s housing market is experiencing rapid growth. Building materials is one of the fastest growing sectors of the country’s economy.

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Traditionally,Montenegrin buildings were constructed with un reinforced brick covered with concrete stucco or, more recently, with steel-reinforced concrete with brick in fill. Montenegrin buildings are energy inefficient, heavy, and take a long time to build. Wood and steel frame buildings are rare, though Montenegrin builders are starting to look atAmerican-style platform – frame wood construction and pre-fabricated housing. Most building materials, such as glass, cement, paint and varnishes, are imported. Montenegro has no applicable standard for testing in the building sector.

Materials from well-known manufacturers that have certificates from the country of origin are accepted in the market based on technical merit.

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The current housing and urban market situation in Montenegro offers opportunities to promote high-tech building materials based on advanced technology. Potential exports to this sector may include: wood and vinyl windows, doors, flooring, kitchen cabinets, suspended ceilings, insulation, adhesives, cements, roof shingles, heating and ventilation equipment, airconditioning, refrigeration and cooling systems, steel buildings and fabrications. Other potential products from the United States could include framing lumber, plywood, molding, solar panels and fiberboard. In addition,the Montenegro remodeling market may grow significantly over the longterm, offerin new. companies opportunities in this subsector.

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