Renowned global investor and founder of Eagle Hills, Mohamed Alabbar, is exploring the possibility of investing in Montenegro but has not yet reached a decision. He emphasized that any commitment will depend on receiving clear data regarding land availability, legal regulations, and the will of the local community.
Alabbar, best known as the visionary behind the Dubai Mall, made it clear in an interview with TV Vijesti that he does not proceed with projects without full legal clarity and the support of local residents. He firmly rejects the idea of involving the state in the construction of internal infrastructure within his projects, choosing instead to rely on private investment and practical solutions that align with existing regulations.
He noted that while formal procedures are being managed through government institutions, including two agreements awaiting parliamentary ratification, he is not directly involved in those processes. Alabbar is aware of broader bilateral discussions related to energy and infrastructure and mentioned being introduced to two specific project locations—one in the north and one in the south of Montenegro.
Although Montenegro’s coastline is a major attraction, Alabbar expressed interest in mountain regions, particularly those around 1,400 meters above sea level. He stressed that any future development should preserve Montenegro’s unique identity and natural charm, not replicate foreign models like Dubai.
Community development, he said, is at the heart of every serious project. Based on his experience, each dollar invested in responsible, well-planned developments can bring triple the value back to the local economy. His vision includes architecture that respects tradition, with two- or three-story buildings, and the active participation of local residents in the investment process.
Alabbar underscored transparency as a cornerstone of his business practices. For nearly three decades, he has led a publicly listed company that regularly publishes its financial reports. His development model focuses on mixed-use spaces that balance commercial, hospitality, and recreational functions with sustainability and environmental care.
He explained that he requires specific land data—size, boundaries, and zoning rules—in order to assess feasibility. Once this information is available, he believes he can provide a decision within two weeks. Alabbar emphasized that his projects comply strictly with tourism regulations and that he does not accept clauses obligating the government to build infrastructure for private developments. Instead, he plans to construct necessary infrastructure up to the border of the project site independently.
His financing model typically involves equal parts equity and bank loans, with no use of land as collateral. He is seeking concrete planning data, particularly for a potential project in Montenegro’s southern region, to begin feasibility studies. However, he noted that without access to detailed documentation, it is too early to discuss specific plans.
Commenting on the scale of investment, Alabbar clarified that figures such as €35 billion likely reflect the potential economic impact over a decade or more, rather than initial capital investment. He added that the actual outcomes will largely depend on decisions made by local authorities.
Discussing the hospitality industry, Alabbar pointed out that trends are shifting, with an increasing focus on year-round activity driven by conferences and events rather than seasonal tourism. Still, he warned that such developments require solid transport infrastructure—particularly an airport, which he estimates would require an investment of about €200 million.
He concluded by highlighting his commitment to social responsibility. Beyond luxury developments, Alabbar builds affordable housing and ensures that all taxes and obligations are fully met. He also voiced a strong interest in supporting education in Montenegro and shared his aspiration to build a university in Ulcinj that would prepare young people to think globally and act locally.
