Montenegro's largest mixed-use development opens

Photo: Construction Week Online

Montenegro's largest mixed-use development has opened, following hefty investment from Abu Dhabi.

The Capital Plaza, located in the capital of Podgorica, spans 1 million square feet of space, incorporate retail and office units, as well as those for residential and ospitality purposes.

The launch took place earlier this month at a ceremony attended by Montenegro's Prime Minister, the UAE Ambassador to Montenegro, the Chairman of Capital Investment and the CEO of Abu Dhabi Financial Group.

It follows another major acquisition by ADFG in the past year: New Scotland Yard in London. Indeed, the firm is one of several Abu Dhabi companies drawn to the affordable European markets, with developments by ADFG also scheduled in the Black Sea, Montegro and other locations. In total, the projects to be delivered in the coming five years will be worth €500 million.

Hafsa Al Ulama, the UAE ambassador to Montenegro, told The National and other members of the press at the Plaza's launch: "The UAE through its investors and partners would like to send a message of Friendship to Montenegro and to reiterate its commitment to strengthening its relations with this beautiful country."

H Hotel has been selected to operate the hotel in the property.