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Sat 10 Oct 2015 10:50 AM

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UAE firm starts work on $3bn Belgrade Waterfront project

Eagle Hills holds ground-breaking ceremony for first residential buildings in master-planned community

UAE firm starts work on $3bn Belgrade Waterfront project
(AFP/Getty Images)

Eagle Hills, a UAE-based private investment and real estate development company has announced the start of construction of its flagship development in Belgrade.

Belgrade Waterfront, the master-planned community situated along the Sava River in the Serbian city being built in cooperation with Belgrade Waterfront Capital Investment, held a ground-breaking ceremony for its first residential buildings.

The ceremony was attended by the Prime Minister of the Republic of Serbia Aleksandar Vucic, Mayor of Belgrade Siniša Mali and Eagle Hills board member Mohamed Alabbar.

With development value of $3 billion, Belgrade Waterfront is being developed by Eagle Hills, with the support of the Serbian Government.

On a total construction area of 2 million sq m, the project will have a total gross site area of approximately 1 million sq m and is  one of a number of UAE investment projects in Serbia.

Aleksandar Vucic, Serbian Prime Minister, said at the ground-breaking ceremony of BW Residences, the first two residential buildings in Belgrade Waterfront: "This innovative project is the first step in defining our vision for the future and defining Serbia's path towards progress and development, becoming a modern-day country.

"Belgrade Waterfront will not only revitalise Belgrade, but it will also help our city take its place as an attractive investment destination and put it on the map as one of the leading regional cities."

BW Residences will offer a range of one to four-bedroom apartments and feature a design that draws on the architectural heritage of Belgrade.

Adjacent to BW Residences, the first W hotel in Serbia - W Belgrade and The Residences at W Belgrade - was recently revealed in a partnership with Starwood Hotels & Resorts Worldwide.

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