Podgorica, (MINA-BUSINESS) – Cortex Village, the first residential complex in Montenegro built specifically for employees in the ICT sector, has formally opened.

 

The nongovernmental organization ICT Cortex and its partners on the Cortex Village project celebrated the official move-in ceremony on Thursday for the complex, which is now home to 115 families of IT professionals. 

 

The housing initiative was first presented to the public in April 2023 as a joint effort by the private sector. Nineteen IT companies within the ICT Cortex cluster joined forces to help their employees solve one of life’s most important challenges: securing housing.

 

From the beginning, the goal was clear – to reduce the emigration of IT professionals from Montenegro and create an environment where young people can envision their future at home. Just over three years later, the first residents have moved in, and today all 115 apartments are occupied and fully furnished, with the community beginning to thrive.

 

Branimir Bukilic, Chairman of the Board of the ICT Cortex cluster, said that when they presented the idea of Cortex Village three years ago, they knew they were offering something that did not exist on the market.

 

“What we did not know was how many challenges would stand between that idea and the moment when the first residents received their keys. At the beginning, we had no partners, no bank, no location, and no investor – we started from scratch. However, those challenges only motivated us further because we always believed that what we were building would be meaningful both for the people who live here and for Montenegro as a whole,” said Bukilic.

 

Recognizing the project’s broader economic importance, NLB Bank decided to support it while it was still in the conceptual stage and offered very favourable financing conditions. These included a fixed interest rate of 4 percent, no loan processing fees, repayment periods of up to 300 months, with 10 percent of funds released upon loan approval and 90 percent after mortgage registration. In this way, NLB enabled significant savings and benefits for employees of ICT cluster companies and contributed to building a better future for society as a whole.

 

Martin Leberle, Chairman of the Management Board of NLB Bank, said the bank is extremely proud to have been part of the Cortex Village project, which demonstrates how innovative ideas can become reality when supported by the right partners.

 

“From the very beginning, we recognized the potential of this project, not only because of its uniqueness in the market, but also because of the people behind it. Through strong cooperation between ICT Cortex, member companies, designers, and our team, we managed to implement a complex and ambitious project within a relatively short timeframe,” Leberle stated.

 

The significance of the project was also recognized by the Government of Montenegro. Minister of Spatial Planning, Urbanism and State Property Slaven Radunovic highlighted the strategic importance of what the ICT community had achieved.

 

“It is particularly important that this initiative originated within the ICT community, one of the key drivers of Montenegro's economic development. Projects like this clearly demonstrate how important it is for professionals to take an active role not only in technological and economic development, but also in creating conditions for a better quality of life,” said Radunović.

 

Cortex Village comprises five residential buildings characterized by a distinctive architectural style. The complex includes 115 residential units with an average net area of approximately 80 square meters, totalling 12,500 square meters of above-ground gross floor area.