Sheikh eyes Lucice - Abu Dhabi-based company interested in cove at Budva Riviera

President of Al Farid, an investment company from Abu Dhabi, Sheikh Hamed Bin Ahmed Al-Hamed has arrived in Budva to continue the talks about the acquisition of a large land complex in the cove of Lucice beach, several sources confirmed to Vijesti.

This cove is one of the few undeveloped ones at the Budva Riviera. Sheikh Al-Hamed, who is a relative of the ruling royal family from the United Arab Emirates, stayed in Montenegro for only one day, accompanied by his entire business entourage, in order to get familiar with the local business environment.

This has been sheikh's second visit to Montenegro in 30 days, given that he was also staying in this country in July, when he had a meeting with Prime Minister Milo Djukanovic in Podgorica, after which he talked with Budva Mayor Lazar Radenovic.

This time the main host was the mayor of Budva, who was also the one to start negotiations with the sheikh. Namely, last time, all attractive locations at the Budva Riviera were presented to Al-Hamed, but Lucice was what caught sheikh's eye.

Al-Hamed is also the president of the Al Qudra Holding Group, an Abu Dhabi government investment company, and he used to be the director of Arcapita Bank. He is one of the major shareholders of the Sheraton hotel chain as well.

Unofficially, the sheikh is interested in buying aforementioned cove where aside from the hotel group Budvanska Rivijera, few local families and offshore companies own land.