Construction of the first residential buildings at the Belgrade Waterfront project in Serbia has begun, according to the UAE’s Eagle Hills and its local partner.

The under-construction BW Residences, the first two residential buildings on the site, will include one- to four-bedroom apartments, leisure amenities, retail and dining options. Sales began on 3 October 2015, according to a statement.

The wider Belgrade Waterfront development, valued at $3 billion, will cover a total gross site area of approximately 1 million square metres, on a total construction area of 2 million square metres.

The master-planned community, situated along the Sava River, is being developed by Eagle Hills with support of the Serbian government.

Serbian Prime Minister Aleksandar Vucic, who attended the ground-breaking ceremony, said: “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. Belgrade Waterfront will not only revitalise Belgrade, but it will also help our city take its place as an attractive investment destination and put it on the map as one of the leading regional cities.”

Mohamed Alabbar, founder and chairman of Dubai’s Emaar Properties, is a board member of Eagle Hills.