Alabar on the construction of Belgrade on water: I made mistakes, we pay Serbia 200.000 euros per day

Investor from UAE Mohamed Alabar, the owner of the companies "Emaar Properties" and "Eagle Hills", stated at the RE:D conference in Podgorica that he made mistakes in Serbia and Albania, as well as that in the case of potential construction in Montenegro, he will do everything in accordance with the wishes of the local community.

Alabar emphasized that he made mistakes during construction "Belgrade on the Water" in Serbia and that he built too quickly in Albania, Podgorica "Vijesti" reports. 

He stated that he wants local businesses in all projects, which is also shown by the fact that there are 600 of them in the "Belgrade on Water" project.

"In Serbia, the value of real estate around the project has increased by 80 percent since 2015, and 10,5 thousand workers are working today. We pay the state 200.000 euros per day, it is ridiculous to estimate that we pay six million euros per year," Alabar said.

Alabar: The wishes of the local community come first

Alabar emphasized that he should not have participated in the tender for beaches in Ulcinj, and that it was a stupid idea. 

He explained that he wanted to realize the project of a "beautiful beach bar" in Ulcinj, but that the financial evaluation was bad, so he got nine beaches, after which he decided to return them to the local community because he does not want to do that business.

"Beaches in Montenegro should remain public and belong to the citizens," Alaba said

Alabar added that everything related to Montenegro is currently at the level of ideas, but also that he wants advice, not unnecessary criticism.

In the case of building projects, he emphasized that he believes that parks and playgrounds for children and a Technological University should be built. He pointed out that the summer season will pass in four months, so a conference center can be built in order to attract tourists in every part of the year and that the economy would not be without work for eight months.

He claims that he would also build beach clubs, lifestyle restaurants, but also facilities for social housing, and that Montenegro also needs an international marina, an airport...

"I pay taxes and build. If I get a chance, I would like to work and build together and invite local businesses and communities to do business together... That is if we get the project," Alabar said.

He emphasized that the wishes of the local community come first and that he does not plan to take the beaches, but that they should be public and belong to the citizens.

Source: News