Eagle Hills Montenegro, a subsidiary of Eagle Hills, has announced a major joint investment agreement with Cungu & Co d.o.o. Ulcinj, Mr. Nazif Cungu, and Bond d.o.o. Podgorica to establish Eagle Hills Ecovillage Shas d.o.o. Podgorica. The new company will develop EcoVillage Shas, a globally recognized eco-tourism destination in Ulcinj, Montenegro.
The project aims to create a sustainable tourism complex combining hospitality, nature, and cultural heritage. It will feature eco-friendly accommodations, wellness and dining facilities, and recreational amenities, offering an authentic Montenegrin experience while preserving the unique natural environment of the Šas area.
Mohamed Alabbar, Chairman of Eagle Hills, emphasized the project’s uniqueness, noting that construction is expected to take 24–30 months and will involve careful planning with architects and designers.
EcoVillage Shas is designed as a model for environmentally conscious development, protecting the biodiversity of Šas Lake and preserving the area’s cultural heritage, known as the “Balkan Atlantis.” The project also aims to boost Montenegro’s global reputation as a destination where nature and history are conserved.
Nazif Cungu of Cungu & Co highlighted the strategic importance of the partnership, noting the project will attract attention to Šas and benefit local entrepreneurs. Nikola Kostić of Bond d.o.o. called the initiative a significant investment step for Montenegro, with potential international recognition.
The development will support the local economy by creating jobs, partnering with local businesses, and generating new opportunities for Ulcinj residents.
Eagle Hills, based in Abu Dhabi, specializes in creating sustainable urban centers and high-growth destinations through partnerships with governments and local communities, fostering economic development and long-term value through large-scale, multifunctional projects.
