Kerzner International Holdings announced it was building its first property in Europe, with the announcement of a development in Montenegro.

The resort will have 150 rooms, health spa, marina, tennis academy, dining and retail options. The 60 acre (24 hectare) project will overlook 1,2km (0,74 miles) of coastline on the Adriatic Sea.

Commenting on the project, Kernzer International chairman, Sol Kerzner said Montenegro was a perfect location for the first One&Only resort in Europe. "The location for the resort is remarkable and I am very confident it will be well received by our many One&Only guests and new guests alike," he added.

The company has entered into an agreement with Triangle Investment and Development Limited to develop a new resort in Kumbor, Montenegro overlooking Tivat Bay.

Triangle is acting as representative for the State Oil Company of Azerbaijan (SOCAR) which has been appointed by the government of Montenegro as the preferred bidder of the mixed-use development.