The Municipality of Berane is pleased to welcome the potential investment from investor Mohamed Alabbar of the United Arab Emirates (UAE) to northern Montenegro, said the President of the Municipality of Berane, Đole Lutovac, in an interview with Bankar.me.
He added that the news of Alabbar’s interest has been met with great enthusiasm by the local government in Berane, which views it as a strong signal of the growing potential of the region.
“We believe that the interest of such a renowned investor is a strong signal of the growing potential of our region and a confirmation that northern Montenegro is increasingly being recognized as an area with significant developmental opportunities,” Lutovac emphasized.
As he pointed out, an investment of this scale could have multiple positive effects for the local community—from direct economic impact and job creation to the valorization of natural, tourist, and infrastructural potentials.
“The Municipality of Berane has already prepared a project proposal, ‘Jelovica Luxury Retreat,’ which has been submitted to Mr. Alabbar’s team, with the aim of presenting the unique development opportunities our municipality offers. We hope that this step will serve as an important catalyst for the future sustainable development of Berane and the wider region,” added President Lutovac.
When asked about his thoughts on the adoption of the Agreement on Economic Cooperation and the Agreement on Cooperation in Tourism and Real Estate Development between Montenegro and the United Arab Emirates in the national parliament, Lutovac emphasized that this was an important strategic move, particularly in areas crucial for the further development of the Municipality of Berane and northern Montenegro as a whole.
“We believe that such agreements create a stable framework for attracting investments, enhancing the tourism offer, and implementing projects in the real estate and infrastructure sectors. The Municipality of Berane looks at the opportunities these agreements provide with great optimism and is ready to actively contribute to creating an attractive investment environment in line with our strategic goals,” concluded Lutovac.
