Mohamed Alabbar, founder of Emaar and Eagle Hills and investor in the Belgrade Waterfront project, stated that the project increased Serbia’s real estate value by 80% since 2015. Around 10,500 people work within the project, and the company pays 200,000 EUR in VAT taxes to the Serbian state daily.
He clarified that the 200,000 EUR per day refers to VAT from all tenants in Belgrade on the Water. Total taxes paid to Serbia amount to 1.1 billion EUR, and the average salary in the area has increased 2.5 times since 2015.
Alabbar also highlighted the Bristol Hotel, which after reconstruction by his company, is considered the top hotel worldwide, with the entire design done by Serbian contractors.
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