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02 March 2024

UAE firm to invest Dh19.8bn in Belgrade project

Promoters uncover the Belgrade Waterfront project model during the project's presentation in Belgrade, Serbia, Friday, June 27, 2014. A company based in the United Arab Emirates says it will invest up to 4 billion euros ($5.4 billion) to build a business, residential and commercial area in the river zone of the Serbian capital, Belgrade. Eagle Hills unveiled Friday the Belgrade Waterfront project designed to completely rebuild a run-down area at the heart of the Balkan city of two million people.(AP)

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By AP

A company based in the United Arab Emirates says it will invest up to 4 billion euros ($5.4 billion; Dh19.8 billion) to build a business, residential and commercial area in the river zone of the Serbian capital, Belgrade.

Eagle Hills unveiled on Friday the Belgrade Waterfront project designed to completely rebuild a run-down area at the heart of the Balkan city of two million people.

Executive Director Mohamed Alabbar, who is also chairman of Dubai's Emaar Properties, says "we are going to create a regional hub out of Belgrade Waterfront that will be unmatched."

The project includes a 200-meter tower similar in style to Dubai's Burj Khalifa skyscraper, as well as a mega shopping mall, flats, offices and leisure zones covering one million square meters.

The project is expected to start in 2015.