Alabar is not giving up on Velika Plaza

Arab investor Mohamed Alabar will visit Ulcinj to talk to the owners of the property in Štoj, in the hinterland of Velika Plaza, about possible joint investments, but the date of his arrival has not yet been precisely determined, "Vijesti" has learned.

Thus, after a hasty and unsuccessful spring "landing" on Velika Plaza and the in-between agreement concluded with the company "Cungu & Co" on a joint investment on Šasko Lake, the billionaire is once again returning to his "first love" in Montenegro.

"Discussions about potential joint investments with land owners in Štoj are certainly planned, but we do not yet know the exact date," confirmed to "Vijesti" from the company "Eagle Hills Montenegro".

The Alabarava company is particularly active in the southernmost city, where it presented a donation to the “Boško Strugar” Elementary School, supported the Choir Festival, financed a hyporehabilitation program for children with developmental disabilities, and sponsored a local volleyball club.

It was previously speculated that Alabar would come to Ulcinj in early December and that he was allegedly interested in implementing a megaproject on a 100 square meter private property in Zoganje, five kilometers from Velika Plaza and one kilometer from the Bajo Sekulić Saltworks.

Alabar came into the spotlight of the Montenegrin public in March this year due to his intention to invest a huge amount of money, primarily in the Velika Plaza beach in Ulcinj. At that time, it was revealed that the Prime Minister Milojko Spajic at a meeting with the leaders of the Municipality and Assembly of Ulcinj, MPs from that city and heads of parties and councilor clubs, he explained the intention of Arab investors to lease the entire Velika Plaža for 99 years - from Port Milena to the mouth of the Bojana.

This was followed by several large protest rallies, at which citizens of Ulcinj and other Montenegrin cities, politicians, and the civil sector unconditionally demanded that Spajić abandon the long-term lease of Velika Plaza.

Due to public pressure, Alabar abandoned the implementation of the project on Velika Plaza in mid-May, stating that he was interested in some other locations on the coast, as well as in the north of the country.

Meanwhile, the tender for the lease of Montenegrin beaches in March was marked by the (un)expected participation of Alabar, whose then newly founded company "Eagle Hills Montenegro" submitted bids for 19, and was ranked first for 9 Ulcinj beaches. After harsh public reactions, the company decided to give up on seven beaches because the former tenants agreed to pay its guarantees for participation in the tender, and concluded a contract with JP Morsko dobro on the lease of two beaches - "Tropikana" and "Imperijal", which it will manage in the coming period.

Meanwhile, Alabar concluded a joint venture agreement with the owner of the company “Cungu & Co” in early October. Nazifom Cunguom from Ulcinj. The agreement envisages the establishment of the company "Eagle Hills Ecovillage Shas Podgorica" ​​which, as announced at the time by "Eagle Hills Montenegro", will develop a world-renowned eco-tourism destination in Ulcinj.

According to "Vijesti", the work on establishing the company is proceeding as planned and is in the final phase.

"We are making preparations for the project," said the interlocutor.

The partner - intermediary in the entire deal is the Podgorica company "Bond", whose representative is Nikola Kostić signatory of the agreement.

After signing the agreement, Alabar said, "Today is a great beginning and we assure you that we will create something unique and special."

He announced that construction, after establishing the company, developing the project, and obtaining the necessary documentation, which takes about a year, will last between 24 and 30 months.