The parliamentary groups of Europe Now Movement and the Bosniak Party announced their support for two bilateral agreements signed between Montenegro and the United Arab Emirates (UAE), allowing UAE investments in two major real estate projects in Montenegro.
The agreements were signed in Abu Dhabi on March 28, 2025. According to Europe Now MP Miodrag Laković, the deals go beyond tourism and include sectors such as energy, agriculture, and security, presenting a significant opportunity for Montenegro’s economic development. He emphasized that the agreements represent a standard framework for foreign investment and criticized misinformation suggesting a sale of national land and resources.
Bosniak Party MP Amer Smailović also expressed support after meeting with Prime Minister Milojko Spajić, noting the importance of cooperating with credible international investors and ensuring balanced regional development.
Prime Minister Spajić expects full parliamentary approval, possibly with all 81 votes. He highlighted the transparency of the process and confirmed that the agreements align with local government decisions, particularly those of the Ulcinj municipality.
Addressing concerns raised by President Jakov Milatović about the constitutionality of the agreements, Spajić stated that such bilateral agreements are international norms and become legally binding once ratified by parliament. He said that if there are concerns, they can be reviewed by the Constitutional Court.
The main investor, Mohamed Alabar, founder of Eagle Hills, has shown interest in building a luxury resort in Ulcinj. He submitted a proposal for leasing nine beach areas on Ulcinj’s Velika Plaža. Alabar, ranked 1,573rd on Forbes’ list of global billionaires with an estimated net worth of around two billion dollars, is also the founder of Emaar Properties, the company behind the Burj Khalifa. He holds investments in various sectors, including digital banking and e-commerce, and has business activities across multiple continents.
