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“The Belgrade Waterfront project is expanding, and the market in Serbia is strong,” said Mohamed Alabbar, director of Eagle Hills, in an exclusive interview with Newsmax Balkans television.
16.05.2025. 10:15
“So the project is expanding. The market is reasonably good. But I'm also very busy finishing my house. Because my house, I bought an old 110-year-old house in Belgrade. I think I'm going to finish it in about three months. So I'm very excited about my house in Belgrade.,” Alabbar said as a guest on the program The Position of the Region.
Responding to criticism that the Belgrade Waterfront has not brought significant economic benefits to the Serbian state, the UAE-based investor said that Serbia has received over €1.1 billion in tax payments.
“The government takes that money and builds schools, builds hospitals and all that. The other thing is that the salary of people working in Belgrade waterfront is almost 40% higher than the average people. We have 10,500 people working in our development, in the shops,” Alabbar pointed out.
He also stated that he only responds to reasonable criticism and has no time for others.
“The best thing for the viewers, please take a walk in Belgrade waterfront. Walk on the river, walk on the streets behind and tell me, is it a ghost town? Tell me, why are these people there? And are these people from Japan? Are they from Africa? They're Serbian people. So if they didn't want us and they wouldn’t buy an apartment from us, and if they won’t be successful, you think I would build apartments, build 8,000 apartment and leave them empty,” said Alabbar.
He added that progress is a fundamental part of human life.
“You want to tell me that why London has so many buildings? Why Paris has so many buildings? Why New York has these crazy, ugly buildings? I don't know. They call it civilization. They call it downtown. They call it building cities, creating jobs. You go speak to the almost 11,000 people who are working every day in Belgrade waterfront and ask them, is this a good idea or is it a bad idea? Ask the tourists who come there, you know? Come look at our newly renovated Bristol after 120 years. Hotel, yeah. The best hotel in the world. And we're very proud of it. ,” Alabbar concluded.
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