Mohamed Alabbar, founder and CEO of Emaar Properties and Eagle Hills, spoke at the RE:D Real Estate Development conference held in Podgorica, emphasizing his commitment to transparency and rule-based operations in Montenegro.
Alabbar arrived in Podgorica recently and received positive feedback from locals. He addressed controversy from a previous speech at the ESG summit in Tivat, where his remarks about his mother caused some public irritation, stating he sees the mother as a family pillar.
He stressed that all projects will comply strictly with contracts and local regulations. If terms are not met, the land will revert to the owner, regardless of investments made. Alabbar assured that public beaches will remain accessible, and no development will proceed without local consent.
He highlighted that his investments bring economic benefits: property values near his projects have increased by 5%, salaries have risen by 60%, and local employment is prioritized, with taxes paid to the government. Alabbar also encouraged local entrepreneurs to invest alongside his projects, emphasizing partnership and shared profits.
Alabbar noted his long-term experience, including managing a hotel in Croatia for 28 years and successful projects like Porto Montenegro, which is internationally recognized and generates significant revenue for Montenegro.
He condemned misleading media reports about government profits from his projects and emphasized his openness to constructive criticism and community collaboration.
Looking forward, Alabbar expressed plans to support young entrepreneurs through a venture fund and to open a technology company soon. He also intends to create the world’s most beautiful park in Montenegro and build more marinas to support local development and tourism.
In summary, Alabbar’s message is clear: he operates transparently, respects local laws and communities, prioritizes economic growth, and aims for sustainable, community-focused development in Montenegro.
