The construction sector in Montenegro is experiencing a mixed performance while there has been some growth in specific areas, challenges remain.

The value of completed construction projects in the first quarter saw a 3.4% increase compared to the same period in the previous year. However, there was an 11.2% decrease in value compared to the fourth quarter of 2023.

Significant projects have been completed, such as the initial section of the Montenegrin highway, contributing to the sector’s overall activities​.

Major construction companies like Bemax and Novi Volvox have reported declines in both revenues and profits. Bemax’s revenues dropped by 17%, and profits fell by 69% in 2023​.

Despite some companies reporting revenue growth, many have seen a reduction in profits and workforce numbers​. The announcement of new projects and pre-qualification tenders is expected to boost the sector, providing optimism for future growth.

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