Mohamed Alabbar, a billionaire from the United Arab Emirates and Serbia’s business partner in the development of the Belgrade Waterfront project, has recently sold his apartment in the development, Forbes Serbia reveals.
It is a large 344-square-meter penthouse in one of the first buildings constructed there – BW Residences, according to information from the real estate cadastre, Forbes Serbia writes.
When Forbes checked in July whether Alabbar had indeed fulfilled the promise he made a decade ago to buy an apartment in Belgrade Waterfront, the cadastre showed a property registered in his name. Now, the registry contains a notice under his name indicating that the apartment has been sold.
The cadastre records a so-called preliminary registration, with a deadline for justification of December 14, 2026. What does this mean in practice? All potentially interested parties are thereby informed that a sale has been agreed. The buyer has been given the stated deadline to pay the agreed amount and finalize the purchase.
Eagle Hills Confirms the Sale
In order to verify whether Alabbar’s apartment had indeed been sold, Forbes Serbia requested a comment from his company, Eagle Hills, which is building Belgrade Waterfront together with the Serbian state. The company confirmed that Alabbar had sold the apartment.
“The transaction relates to Mr. Alabbar’s private property affairs, and publicly available data reflects the relevant details,” reads the response to Forbes Serbia.
Is He Leaving or Staying?
Forbes also tried to find out whether the sale was connected to the results of the recent parliamentary elections in Serbia. The ruling authorities led by the Serbian Progressive Party, which entered into the Belgrade Waterfront development project with Alabbar, were defeated in those elections. Alabbar has visited Belgrade several times so far, touring the complex with former President Aleksandar Vučić and outgoing Finance Minister Siniša Mali and following the progress of construction.
Eagle Hills’ response also stated that the transaction should be viewed exclusively in the context of a private property deal.
“Mr. Alabbar has a deep affection for Serbia, which he considers his second home. His personal and business ties with Serbia remain very strong, as does his commitment to the country’s continued development and the success of the Belgrade Waterfront project,” the response states.
According to information obtained by Forbes Serbia from a source familiar with the transaction, Alabbar intends to keep the house he purchased in Užička Street in Dedinje through another one of his companies. He usually stays there when he is in Belgrade and intends to continue doing so. The property is a 435-square-meter villa.
The buyer of the apartment in Belgrade Waterfront is a person whose name suggests that they are from Russia or one of the countries of Eastern Europe.
Read the full article on Forbes Serbia.
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Source: Forbes Srbija, Foto: B.P. / ATAImages
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