Arab investor Mohamed Alabbar, founder of the international development group Eagle Hills, has proposed a new partnership structure to landowners in Ulcinj, suggesting the creation of a joint development company instead of purchasing or leasing land outright for future tourism and real-estate projects along the coast. The proposal represents a shift from traditional investment models toward a cooperative structure designed to align the interests of investors and local property owners.
The concept presented to landowners centers on the formation of a joint company that would manage development projects collectively, with landowners contributing their property as equity while the investor provides capital, development expertise and project management. In this structure, local owners would retain a stake in the project rather than selling their land or entering into long-term lease agreements.
According to representatives of the investment group, the model aims to create a shared economic interest between the investor and the local community, avoiding arrangements where landowners lose ownership of their property. The proposed partnership would allow them to participate in the long-term value creation generated by tourism development.
The proposal comes amid ongoing discussions about potential large-scale tourism investments in the Velika Plaža area near Ulcinj, one of the longest sandy beaches on the Adriatic and a location frequently highlighted as a major development opportunity for Montenegro’s tourism sector. Earlier meetings between Alabbar and local landowners indicated that the investor was considering multiple investment structures, including partnership arrangements backed by financial guarantees rather than direct land acquisition.
Under the proposed structure, landowners would effectively become shareholders in the development company, allowing them to benefit from future project revenues while maintaining a degree of control over how their property is used. Such models are sometimes used in large tourism developments where land ownership is fragmented among numerous private owners, making direct purchase of individual parcels complex or politically sensitive.
The Ulcinj region has long been viewed as one of the last major undeveloped coastal zones in Montenegro with significant tourism potential. Projects in the area have often been discussed in the context of high-end resort development, eco-tourism complexes and integrated tourism infrastructure that could transform the region into a major destination on the Adriatic.
Alabbar’s investment group Eagle Hills is known for large-scale real estate and tourism developments across several countries, including projects in Dubai, Abu Dhabi, Serbia and Albania. The company’s investment strategy typically focuses on waterfront urban developments, luxury tourism complexes and mixed-use real estate projects combining hotels, residences and commercial facilities.
In Montenegro, discussions about possible investments in Ulcinj have generated both interest and debate. Supporters argue that large-scale tourism projects could bring new infrastructure, employment opportunities and increased international visibility for the region. Critics, however, have expressed concerns about environmental impacts, land ownership issues and the long-term sustainability of major coastal developments.
By proposing a joint-company structure rather than outright land purchases, the investor appears to be attempting to address some of these concerns while building broader support among local stakeholders. The partnership model could potentially allow landowners to participate directly in the economic benefits of tourism development while reducing tensions associated with foreign acquisition of coastal land.
The discussions with landowners are part of a broader series of consultations aimed at defining the structure of future investment projects in the Ulcinj area. Whether the joint-company model will gain sufficient support among property owners remains uncertain, but the proposal illustrates a growing trend toward collaborative investment structures in large tourism developments, particularly in regions where land ownership is widely distributed among local residents.
