Eagle Hills to invest $5.4bn in Belgrade development

June 29, 2014 3:00 am

UAE-based Eagle Hills has said it will invest up to €4bn ($5.4bn) to build a business, residential and commercial area in the river zone of the Serbian capital, Belgrade, the Associated Press has reported. The Belgrade Waterfront project was designed to completely rebuild a rundown area at the heart of the Balkan city of two million people. “We are going to create a regional hub out of Belgrade Waterfront that will be unmatched,” said Eagle Hills’ executive director, Mohammad Al Abbar, who is also chairman of Dubai’s Emaar Properties. Expected to start in 2015, the project includes a 200-metre tall 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 metres.