Following the ratification of cooperation agreements between Montenegro and the United Arab Emirates in tourism and investment, concrete steps are emerging—led by Mohamed Alabbar, founder of Emaar and one of the most influential investors from the Middle East.
Although initial interest was directed toward Ulcinj on the southern coast, Alabbar’s team is now turning its attention to northern Montenegro, particularly the regions of Jelovica, Bjelasica, and Hajla. The shift comes after communication issues and local opposition in Ulcinj prompted a change in investment strategy.
North on the rise
Sources from Alabbar’s Eagle Hills company confirmed that conceptual plans are underway for multiple northern sites. Municipalities such as Žabljak, Berane, Plav, Mojkovac, and Rožaje have submitted detailed proposals that include:
- Luxury ski resorts and eco-villages
- High-category hotels
- Revitalization of historical sites
- Development of rural tourism and renewable energy
Berane proposed the “Jelovica Luxury Retreat” including the reactivation of its airport. Žabljak suggested new ski centers and a hotel complex at Savin Kuk. Plav highlighted the Bogićevica mountain, while Rožaje proposed the Hajla–Štedim ski center.
Among these, Jelovica stands out as a favorite due to its ecological value and development potential. With Bjelasica already housing key ski infrastructure, and Hajla remaining largely untouched, the north is well-positioned for sustainable expansion.
Gusinje’s bold vision
Gusinje presented perhaps the most ambitious concept: a new “city on the water.” Plans include luxury resorts along the Ljuča, Vruja, and Grlja rivers, a panoramic gondola to Mount Bor, and high-end hotel complexes throughout the region.
South losing momentum
Despite early offers of prime coastal sites, southern municipalities like Ulcinj, Bar, Budva, and Tivat have seen stalled negotiations and growing public resistance. Ulcinj’s early promise was overshadowed by protests, halting investor interest.
While Budva and Herceg Novi presented proposals, investor attention has clearly shifted north. Alabbar’s team is preparing visits to northern municipalities to further assess potential.
Strategic development ahead
If managed strategically and transparently, this UAE-backed investment wave could usher in a new era for Montenegro’s underdeveloped north—bringing jobs, infrastructure, and economic growth. Experts caution, however, that Montenegro must learn from past investment experiences to ensure long-term benefits and public interest are preserved.
Northern Montenegro, long overlooked, may finally be stepping into the spotlight.
