Renowned investor Mohamed Alabbar has shifted his investment focus towards northern Montenegro, prompting swift reactions from local municipalities. These regions are eager to attract investments that could stimulate development, create jobs and promote economic growth.
Local leaders in northern Montenegro have expressed openness to Alabar’s investment, as well as to any other serious and suitable investors, provided that all projects are executed transparently, in accordance with laws, and in the interest of local communities and citizens.
Projects in tourism, energy, and infrastructure have been proposed, aiming to turn northern Montenegro into an attractive investment destination. Municipalities such as Berane and Gusinje have already prepared specific proposals and submitted them to Alabar’s team, hoping these will serve as a foundation for sustainable development in the region.
A signed cooperation agreement between Montenegro and the UAE in tourism and investments has laid the groundwork for such investments. Initially, investments were planned for Ulcinj, but due to disagreements with the local administration, the focus has now shifted to Jelovica, Bjelasica, and Hajla in the north.
Local officials, including the mayors of Rožaje, Gusinje, and Berane, have emphasized their commitment to transparent processes and the importance of projects benefiting the local communities. They are eager to attract such investments to create jobs and improve local infrastructure.
For example, the Mayor of Rožaje, Rahman Husović, confirmed that their municipality, along with others in the north, is open to investment, provided all legal requirements are met. Similarly, Sanel Balić, Mayor of Gusinje, noted that they have offered locations for potential investors and are open to any such investments, especially larger ones.
Several municipalities have proposed projects, including ski resorts, luxury eco-villages, and the revitalization of historical sites. Notable proposals include the development of the “Jelovica Luxury Retreat” in Berane and ski centers in Rožaje and Mojkovac. These projects are seen as key to the sustainable development of the region.
Alabar’s team is already working on conceptual solutions for multiple locations in the north. Local leaders believe that investments of this magnitude could transform the region, especially by utilizing natural and tourism resources like Bjelasica and Hajla.
As Montenegro prepares for further talks and the potential realization of these projects, the mayors of the northern municipalities are eager to attract quality investments that will lead to long-term benefits for the region and its residents.
