Montenegro's Potential Interests Gulf Sheikh

The Vijesti daily reported on Monday that the Sheikh, who is also president of the First Gulf Bank, is especially interested in a 13-kilometre beach near the coastal town of Ulcinj, once a pirates’ harbour.

“He is thrilled with the natural beauties of Montenegro,” Vijesti’s source said. “He has announced great investments in Montenegro, in immeasurable amounts if it is necessary.”

A delegation of the Abu-Dhabi based First Gulf Bank, whose local partner is the Atlas Group, owned by the local businessman Dusko Knezevic, recently announced readiness to invest over a billion euros in Montenegrin tourism.

On Sunday, the Abu Dhabi royal family's company, Capital Investment, signed a contract with Atlas to build a 100-million-euro business centre in the capital, Podgorica.

During his visit to Montenegro, the Sheikh met the republic’s Prime Minister, Zeljko Sturanovic, and visited a former military health centre in the coastal village of Meljine near Herceg Novi, which is likely to be privatised by Atlas.

Montenegro’s former prime minister, Milo Djukanovic, had previously visited Abu Dhabi, where he outlined potential investments in the Balkan country to his Arab hosts.

Abu Dhabi is one of seven emirates making up the United Arabian Emirates.