While some investors come to Montenegro with reservations, and others leave disappointed, the announcement of the global giant EMAAR’s interest in investing in Ulcinj can be a turning point for the entire south of the country – but also for Montenegrin tourism as a whole, reports Pobjeda.
Although the public is divided – some enthusiastically welcome the potential investment, while others express doubts about its transparency and real intentions – experts unanimously warn that Montenegro must not miss another chance.
Ulcinj, a city recognized for its natural beauty, cultural richness and multi-ethnic harmony, has been waiting for a serious development opportunity for years. That is precisely why Pobjeda’s interviewer – Aleksandra Draskovic, director of the Montenegro Properties Agency, and spec. sci. of tourism Valentina Kazic – call for responsible decision-making, a strategic approach and readiness to valorize domestic potentials through synergy with serious international partners. Because, as they say – while we are weighing, the region is progressing.
Drašković emphasizes that EMAAR’s interest in investing in Montenegro reflects confidence in the country’s legal, security, and economic systems. Mohamed Alabar, the founder of EMAAR, is known for innovation in global real estate, and his interest in Montenegro presents a significant opportunity for long-term sustainable growth. Alabar sees the Western Balkans as a region poised for economic growth, with advantages like beautiful coastlines and strong tourist potential. His investments aim to contribute to local communities, create economic value, and enhance Montenegro’s international reputation, as seen with projects like Porto Montenegro, Luštica Bay, and Portonovi.
Draskovic believes that Ulcinj, with its underdeveloped but exceptional resources, has great potential for development. EMAAR’s involvement, alongside improvements to infrastructure such as roads and healthcare, could transform Montenegro’s tourism industry, making Ulcinj a high-end destination. She stresses the importance of collaboration between investors, the state, and the local community for successful projects.
Kazic agrees on the need for development, warning that negative reactions to potential projects in Ulcinj could deter future investments. She highlights the region’s untapped potential, such as its long beaches and diverse natural and cultural heritage, but also points to challenges like outdated infrastructure and lack of a marina. Investments in luxury hotels, marinas, and healthcare could attract high-paying tourists and benefit the local economy.
Kazic also compares the situation to previous unfulfilled plans, like the 1969 “Southern Adriatic” plan, which foresaw large-scale tourism development in Ulcinj but was never carried out. She believes that luxury tourism could replace mass tourism, bringing economic benefits while preserving the environment.
