Eagle Hills’ $3bn Belgrade Waterfront project ‘not profit-driven’ – Alabbar

The development of the $3bn Belgrade Waterfront project is “not so much about investment” as it is about adding value for the city’s residents, the chairman of the UAE developer building the project has said.

Mohamed Alabbar, founder of Eagle Hills – which is developing the mega urbanisation project – stressed that the project was aimed at improving facilities for those living in the Serbian city.

Speaking at the Galerija mall pre-opening on Tuesday, Alabbar said: “This is not so much about investment. It is really about these happy people who are walking on the riverbank. This is the real question – what do these people feel when they walk with pride, with happiness and hope that this country and city is feeling good.

“But if it is not driven mainly by that spirit of changing human life, nothing matters anymore. And this is what drives my business… profit will come but do things right,” he said.

“How people can do things like this, in Belgrade, in this region – I think it is more important than money,” he added.

Set to open in early October, the Galerija Belgrade is the biggest shopping and entertainment destination in Serbia, featuring 300,000 sqm in total including 93,000 sqm of leasable area.

The mall also has over 300 local and international brands including more than 50 restaurants and cafes as well as 3,600 parking spaces.

Located on the Sava river waterfront, the wider mega project spans 1.8 million square metres and will feature 7,000 residential units, which will be home to approximately 14,000 people when it is completed. It will also feature Kula Belgrade, the city’s tallest building which will stand at 168 metres tall with 42 levels.

The mixed-use development will also feature hotels, office buildings and cultural venues, educational institutions and other attractions.

Read: Serbia Seals Deal With UAE Developer For Controversial Belgrade Makeover