The ambitious plan to solidify Montenegro’s reputation as a leading Mediterranean travel destination is taking concrete shape. The prominent UAE businessman Mohamed Alabbar, founder of real estate investment firms Eagle Hills and Emaar Properties, is planning the construction of an exclusive eco-tourism village in the Adriatic municipality of Ulcinj.
Alabbar expressed hope that construction work for the project on the picturesque Lake Shas will commence within the next twelve months. “I hope we can start construction in 12 months,” Alabbar recently stated after signing an important contract to establish a joint venture. The expected construction time is estimated to be around 30 months, provided all permits are secured.
A Paradise for Wellness and Nature Lovers
The project, led by the newly formed company Eagle Hills EcoVillage Shas (a joint venture between Alabbar’s Eagle Hills Montenegro and the local Montenegrin companies, is set to offer accommodations for wellness and longevity tourism along with recreational facilities in a pristine natural setting. Lake Shas, surrounded by mountains near the Albanian border, is known for its biodiversity and cultural heritage, often referred to as the “Balkan Atlantis.” The eco-village is planned to protect the lake’s biological diversity, thus serving as a model for environmentally sensitive construction in the region.
Two Eco-Projects in Close Proximity
The Ulcinj region is thus developing into a hotspot for major sustainable tourism projects. The proximity to another planned eco-project is particularly noteworthy: the Panorama Hill Resort on Briska Gora in Ulcinj, also designed as an environmentally friendly facility, is only about a 15-minute walk from the site of the future EcoVillage Shas by the lake.
For Alabbar, this joint-venture agreement marks his first investment in Montenegro. He sees “incredible potential” in the country, which he believes is still undervalued, especially with regard to tourism, where he sees significant growth potential. With the EcoVillage Shas, the company aims to create a “little heaven” and increase Montenegro’s global recognition as a destination that preserves nature and history.
The two ambitious projects on Lake Shas and Briska Gora represent an interesting investment potential for the regional tourism location, although their final development and realization are contingent upon the adoption of the respective spatial plans.
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