Eagle Hills, an Abu Dhabi-based property company in which the Emaar chairman Mohamed Alabbar is a board member, has started developing a vast site in the Serbian capital of Belgrade that will be home to the biggest mall in the Balkans.
Off-plan apartments in the first housing blocks to be developed at the Belgrade Waterfront site went on sale on Saturday.
The project, which is being developed by Eagle Hills with the support of the Serbian government includes a 140,000 square metre shopping mall; 5,700 homes to accommodate 14,000 people, eight hotels comprising a total of 2,200 rooms and a tower 200 metres in height.
With a development value of US$3 billion, it will take as long as 30 years to complete.
“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,” said the Serbian prime minister Aleksandar Vucic.
Last week the hotel chain Starwood Hotels and Resorts said it had signed an agreement with Belgrade Waterfront to operate the first W Hotel in Serbia in the mega-project.
Eagle Hills will own 68 per cent of the multibillion euro project, while the Serbian government will own the remaining 32 per cent.
Last year Eagle Hills merged with Al Maabar, a joint venture company founded by Abu Dhabi’s largest developers in 2007 to develop large-scale real estate projects in the region, as well as in Europe and North Africa.
lbarnard@thenational.ae
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The years Ramadan fell in May
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COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
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Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
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Milestones on the road to union
1970
October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar.
December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.
1971
March 1: Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.
July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.
July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.
August 6: The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.
August 15: Bahrain becomes independent.
September 3: Qatar becomes independent.
November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.
November 29: At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.
November 30: Despite a power sharing agreement, Tehran takes full control of Abu Musa.
November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties
December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.
December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.
December 9: UAE joins the United Nations.
