Mayor dubs waterfront project "historic chance"

Mayor dubs waterfront project "historic chance"

BELGRADE -- Belgrade Mayor Siniša Mali has said that the Belgrade on Water project is "a historic chance not only for the capital, but for the whole of Serbia."

The master plan for the project - sometimes referred to as "City on Water" - will be presented in Belgrade on Friday.

It will take between eight to ten years to build, Mali told the public broadcaster RTS, and added:

"The first phase of works, which begins next spring, will see construction of a tower as the symbol of the project, followed by a big shopping center, four buildings and two hotels."

Belgrade on Water is expected to "not only to boost the construction industry, but also the economy of the entire country next year," said Mali.

The mayor noted that a company that would be in charge of the coordination of all activities was established by the government on Thursday.

Eagle Hills, United Arab Emirates partner in the project, will invest USD 3.1 billion in the project on the right bank of the Sava River and build about two million square meters of residential and office space.

The government announced on its website that it decided to establish the Belgrade Waterfront Ltd. company, and that this entity will act on behalf of the government and be the main contractor "in the project of improvement of the Sava riverbank from the Branko's Bridge to the Belgrade Fairgrounds."