[4][5] The project was initiated in 2014 between the Government of Serbia and Eagle Hills, a leading Abu Dhabi–based private investment and development company focused on creating new city hubs in high-growth international markets.

[8] The beginnings of the project are marked with the overnight demolition of the Savamala district in 2016, during which people were restrained by masked men and police failed to respond despite calls from citizens.

For the first time, in 1923, the Russian architect Đorđe Pavlovič Kovaljevski, in the General Plan for the arrangement and expansion of Belgrade, foresaw the space between the Sava river and the railway tracks as a place for new apartment blocks.

[citation needed] The idea of Belgrade Waterfront appeared for the first time on April 12, 2012, as a pre-election promise of Aleksandar Vučić, the candidate representing the Serbian Progressive Party.

That was the first time that the size of the investment venture was stated,[10] which First Deputy Prime Minister Aleksandar Vučić estimated at around 3.1 billion dollars.

[15] The first construction works on the site began in March 2014 with removing the rails and relocating many ships and wrecks that were stranded or moored to that part of the bank.

[16] The building of the Belgrade Cooperative has been determined to be the seat of the company that will manage the project and perform promotion and sales.

Prime Minister Vučić and the Eagle Hills company director Mohamed Alabbar presented the master plan, and it was announced that the investment should amount to 3.1 billion euros.

The cornerstone was laid on September 27, 2015, by Prime Minister Aleksandar Vučić and Eagle Hills chairman Mohamed Alabbar.

The spatial plan envisages the further development of this part of the city and the construction of public service facilities, from kindergartens and schools, through health institutions, to cultural, sports and recreation facilities, including the two planned lines of the Belgrade Metro, as well as three metro stations - Belgrade Fair, Mostar and Sava Square.

[84] As the tallest building in Serbia, the Kula Belgrade will have an observation deck at the top with a panoramic view of the entire city.

The Plaza space also extends the adjacent Kula Belgrade ballroom and provides a new venue for outdoor social events at that edge.

[88] In January 2023, it was announced that Belgrade Waterfront would get a bilingual elementary school, one of the few with a swimming pool, in an almost 5,000 square meters area.

[1] In February 2023 it was announced that Belgrade Waterfront would get "the most modern kindergarten ", in an area of 800 square meters, with a multifunctional hall for shows and performances.

[89] In 2020, it was announced that the new Historical Museum of Serbia would be located in Belgrade Waterfront, in the building of the former Railway Station on Sava Square.

In February 2023, it was announced that the Government of the Republic of Serbia would invest 52 million euros in the reconstruction of Ložionica, which will be turned into the center of creative industries, digitalization and innovation.

[96] In December 2022, Belgrade Waterfront hosted the "Winter Fairytale" festival for the first time, featuring open-air cinema, music programme, ice skating and other activities.

The festival lasted 30 days and attracted more than 1,5 million visitors who enjoyed 150 performances, concerts, theatre, and movie shows for children and adults.

[97] Galerijа Belgrade, a large shopping, dining, and entertainment center, was opened on October 30, 2020, in the presence of Eagle Hills Chairman Mohamed Alabbar, the President of Serbia Aleksandar Vučić, and Prime Minister Ana Brnabić.

In addition to the biggest trampoline park in this part of Europe, there is also Cineplexx Galerija Belgrade – a multiplex cinema with nine halls and more than 1,700 seats.

[citation needed] Galerija Belgrade is the only place in Serbia where foreign visitors can get a VAT refund immediately after purchase at three points within the mall.

The basic income of the company comes from the sale of real estate, which has been making significant progress over the years, with 3,000 apartments being sold since the beginning of the construction.

[102] In July 2014, a group of 50 international scholars and experts on urban development and planning from the International Network for Urban Research and Action (INURA) penned an open letter to the people of Belgrade, stating their concerns regarding the Belgrade Waterfront project and the potential economic and environmental impacts on the city.

[105][106] In May 2016, thousands of people took to the street to protest against an incident where dozens of men with masks demolished buildings in the area, where the Belgrade Waterfront complex is planned to be built.