Owner of Belgrade Waterfront: Value of real estate grows 80% thanks to our project

Mohamed Alabbar, the founder of the companies Emaar and Eagle Hills and the investor in the Belgrade Waterfront project, said that he paid EUR 200,000 to the state of Serbia a day. According to him, thanks to this project, the value of real estate in the country has grown 80%.

Talking about the potential investments in Montenegro, Alabbar said that, in all his projects he wanted local businesses and that Belgrade Waterfront, with 600 of them, was proof of that.

– Thanks to this project, the value of real estate in Serbia has grown 80% since 2015, and around 10,500 people work within it. We pay EUR 200,000 in taxes to the state a day, the estimates that we pay 6 million a year are ridiculous – Alabbar said at the RE:D Conference in Podgorica.

He clarified that the amount of EUR 200,000 a day pertained to VAT payments based on the turnover of all the tenants within Belgrade Waterfront.

In the presentation he held, he showed that total taxes in the amount of EUR 1.1 billion were paid to Serbia and that the average salary had grown 2.5 times since 2015.

He also mentioned the Hotel Bristol, about which he said that, following the reconstruction done by his company, it was hotel no. 1 in the world.

– I want to note that the whole design was done by contractors from Serbia – he added.

D. O.

Emaar

Eagle Hills

Belgrade Waterfront

Mohamed Alabbar