A Memorandum of Understanding was signed for an exclusive tourist resort in Mavrijan

The Government of Montenegro, the Municipality of Ulcinj and the Al Shiddi Group from Saudi Arabia have signed a Memorandum of Understanding regarding the possibility of developing a tourist complex in the part of Cape Mavrijan in Ulcinj.

This MoU represents a joint effort and a common vision for the realization of an exclusive tourist resort on the part of Cape Mavrijan. The common intention of the three parties is to further valorize the tourism potential of Montenegro, in order to create a new permanent value, enrich the tourist offer and create new jobs. All this should contribute to a better standard of the citizens of Montenegro.

I am happy that the municipality of Ulcinj has the opportunity to valorize its tourism potential. I believe that Al Shidi is a really serious group that has all the necessary references to develop such a project, said the Prime Minister of Montenegro, Dr. Dritan Abazović, after signing the Memorandum.

Equally important is the arrival of world brands, especially investors from Saudi Arabia, with whom the possibility of the arrival of a larger number of tourists, as well as other investors in various sectors, is opened up.

The President of the Management Board of the group, Al Shidi Abdullah Sulejman, thanked the Government, the Minister of Capital Investments, Ervin Ibrahimović, and the Municipality of Ulcinj for the trust shown and the effective cooperation so far, which resulted in the signing of the Memorandum of Understanding.

Al Shidi Group has been operating in the region for 15 years. We have large investments in Bosnia and Herzegovina and we want to expand our business in the region and beyond. We have a good brand and we want to transfer our experience to Montenegro, said Al Shidi.

He pointed out that he believes that this will only be the beginning of investments, and that he hopes for a greater number of tourists who will come to Montenegro, as well as contacts and business cooperation that can result from such arrivals.

The President of the Municipality of Ulcinj, Omer Barjaktari, said that another development perspective is opening for Ulcinj.

We are opening one of the biggest development potentials of the municipality of Ulcinj. I am looking forward to the cooperation with the Al Shidi Group and I am sure that we will have one of the largest investments in Montenegro in this location, bigger than the ones we currently have, said Barjaktari.

Al Shidi Group has been operating for almost five decades in Saudi Arabia, where it has become one of the most successful companies, through the deployment of capital in multiple sectors at the local level and active global operations. Through their investments, they achieve cooperation with global world brands, in order to, through best practices and experts, create lasting value in the countries in which they invest, but also to be able to perform a quality transfer of knowledge that makes the local population capable and competitive for further development and management of multi-million dollar investments.