Eagle Hills, a company owned by UAE investor Mohamed Alabbar, has reportedly withdrawn from leasing seven beach areas on Velika Plaža in Montenegro, according to unofficial sources cited by Vijesti. The beaches in question are Adriatica, Havana, Safari, Saranda, Hills, Coral, and Mikonos.
Eagle Hills has signed a lease agreement only for the Tropikana beach, which is one of the first officially registered beaches under the coastal lease program by the state enterprise Morsko Dobro. The status of the ninth beach, Imperial, which was also awarded to Eagle Hills in the tender, remains unclear.
Sources suggest that the second-ranked bidder’s offer for Imperial is incomplete, which may prevent the finalization of a lease agreement if Eagle Hills officially withdraws from it.
Alabbar’s company is expected to forfeit its bank guarantees, estimated at around 600,000 euros, which will be collected by Morsko Dobro as part of the standard procedure in case of withdrawal.
Even if second-ranked bidders take over the leases soon, administrative delays and complex paperwork are likely to postpone the opening of the beach facilities.
Morsko Dobro confirmed that the tender process was conducted legally and transparently, and that there were no unrealistically high or fake offers. In the event of withdrawal by the initial winners, contracts can legally be offered to the next qualified bidders.
