Mohamed Alabar says Montenegro beach tender was a ‘stupid idea’

Mohamed Alabar, the United Arab Emirates businessman who founded the property group Emaar, said his company's participation in last year's tender for nine beaches on Montenegro's Adriatic coast was a mistake. In a video interview he called the tender a “stupid idea” and said he often blamed an Indian lawyer for the decision. Alabar recalled similar missteps in other Balkan projects, noting that construction in Albania was “too fast” and that his firm had previously built a promenade in Serbia.

He said the legal advice led Emaar to acquire rights to the nine Montenegrin beaches at prices he now considers wrong, and he expressed regret, saying he would hand the beaches back to the local community. The comments come amid ongoing political debate over the tender and related tourism developments in the region.