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The Government of the Republic of Serbia

In the service of citizens

Belgrade Waterfront contract signed

Belgrade, 26 April 2015

Deputy Prime Minister and Minister of Construction, Transport and Infrastructure Zorana Mihajlovic, Mohamed Alabbar, board member at UAE-based company Eagle Hills and Belgrade Waterfront Director Aleksandar Trifunovic signed a contract on joint investments within the Belgrade Waterfront project.

Mohamed Alabbar, Zorana Mihajlovic and Aleksandar Trifunovic

The contract worth around €3.5 billion is expected to provide a significant boost to the Serbian economy, engage the construction industry and ensure new jobs.

The contract was signed in the presence of Belgrade Mayor Sinisa Mali.

Under the project, over one million square metres of residential space will be built in an approximately 177-hectare area, along with around 750,000 square metres of business and commercial space, as well as over 62,000 square metres of public buildings (kindergartens, schools, cultural institutions and social welfare and health care institutions) and 242,000 square metres of green space.

The project implementation will make it possible for more than 17,000 residents to live in the area, while also providing jobs to around 13,000 people.

Zorana Mihajlovic

After the signing of the contract on joint investments in the project, Mihajlovic said that this is a great day for Belgrade and Serbia, because this project will leave future generations a more modern, more beautiful and more open Belgrade and Serbia.

This is a great option to hire construction, mechanical and any other industries, said Mihajlovic.

She also expressed the hope that the contract will be implemented within the stipulated time and that the works will start this summer.

Mohamed Alabbar

The Belgrade Waterfront project will spur economic growth and strengthen the cooperation between Serbia and the United Arab Emirates, Eagle Hills board member and project investor Mohamed Alabbar.

Alabbar said that the Belgrade Waterfront project on the banks of the River Sava will utilise leading-edge technology and design.

Sinisa Mali

Belgrade Waterfront is the biggest project of its kind – not only in the region, but in Europe as well, Belgrade Mayor Sinisa Mali said, noting that the project's significance also lies in the fact that it shows that Serbia is capable of creating a positive business environment and attracting and retaining foreign investors.

The project contract will take effect once it has been approved by the Commission for Protection of Competition and will subsequently be made available to the public in its entirety, Mali said.