Eagle Hills gets a shot in the arm with ratification of the UAE’s planned investments in Montenegro following controversy

The UAE’s Montenegro’s investment gets the green light: Montenegro’s parliament has ratified two key cooperation agreements with the UAE, fast-tracking large-scale investments in tourism, real estate, and infrastructure, Montenegro PM Milojko Spajić said in a post on X. The move paves the way for projects under a multi-bn-EUR, five-year economic partnership signed last month.

REFRESHER- The agreement includes two major tourism developments: a ski-focused resort in the north and a larger southern project on Ulcinj’s Velika Plaza, where Mohamed Alabbar’s Eagle Hills submitted the top bids for 20 beach leases.

Eagle Hills’ planned projects had sparked criticism from local businesses, environmental groups, and political leaders, who argue it favors foreign developers and threatens the coastal landscape. Eagle Hills has pledged to sublease the beaches to their original operators.

Eagle Hills has been facing a wave of European protectionism that forced it to call off plans for a high-rise development in Budapest following local opposition. However, it is still pushing ahead with USD 6 bn worth of projects in Georgia and a USD 1.4 bn Trump-branded tower in Serbia.