Photo: Dario KonstantinovićEven at first glance, the Embassy of the United Arab Emirates in Belgrade discreetly hints at the image that this Middle Eastern country has in the world today. A spacious, modern building, located in the most elite street in Dedinje, with solar panels on the roof and a carefully arranged spring garden, meets the highest standards of LEED certification and provides visitors with a welcoming and comfortable atmosphere the moment they enter the elegantly designed lobby. Our host, His Excellency Mubarak Saeed Ahmed Burshaid Al Dhaheri, the second UAE ambassador since the diplomatic mission was established in Belgrade in 2014, has been living in Belgrade for six years, and is a perfect interlocutor to talk about significant UAE investments in Serbia, opportunities for new forms of cooperation, and the new green economy model that the United Arab Emirates consistently applies in all economic sectors to support the long-term growth of their country.
Last year, the United Arab Emirates and the Republic of Serbia celebrated 50 years of friendly relations, which have been especially intensified since the exchange of state-level visits in 2012. What areas of cooperation have seen the most growth over the past ten years, and how did our 51st year of bilateral relations begin?
The first 50 years of relations between the UAE and the Republic of Serbia laid the foundation of intensive economic and political cooperation, leading to significant investment and bilateral exchange. Now, major UAE companies are involved in the Serbian market, particularly in the aviation, agriculture, real estate, and energy sectors.
Last year also saw high-level state visits that produced key agreements, including the comprehensive strategic partnership between our countries. The next five decades promise to advance our bilateral cooperation even further to serve the interests of our countries and peoples.
His Excellency Mubarak Saeed Ahmed Burshaid Al Dhaheri / Photo: Dario Konstantinović
The majority of UAE investors in Serbia are huge and very successful UAE companies with global presence and international reputation. What is the main focus of their businesses, and how satisfied are they with the opportunities offered by the Serbian market?
UAE investors consider Serbia one of the most attractive markets in the Western Balkans. Bilateral agreements signed during high-level visits in 2014 encouraged UAE companies to identify additional opportunities in Serbia’s aviation, real estate, agriculture, infrastructure, and financial sectors.
In the face of contemporary challenges, such as climate change and the energy transition, UAE companies continue to explore avenues of cooperation with Serbia in the energy, renewables, food and water security, health, and mobility fields. As the UAE places ever-increasing importance on energy solutions, from wind to solar and hydro, UAE companies will likely show elevated interest in high-tech projects that can be pursued in the aforementioned sectors.
Agribusiness is one of the most important sectors of UAE investments in Serbia. What do all these investments include, and how satisfied are both parties with the results so far?
The UAE places food security at the forefront of its strategic priorities in order to secure a prosperous and stable future for its people. As part of its National Food Security Strategy 2051, the UAE continuously works to identify new locations around the world to boost its agricultural investments. Serbia has become a reliable partner in this regard, as the country boasts significant agricultural production and food processing capabilities.
Consequently, the largest UAE investment projects in Serbia were made by major UAE agricultural companies. Due to Serbia’s efforts to privatize the PKB Corporation, the UAE agribusiness conglomerate Al Dahra acquired the assets of the corporation and its subsidiaries in 2018. As a part of the transaction, Al Dahra invested over the years to enhance its farms, upgrade irrigation infrastructure, and modernize the dairy operation facilities. Today, Al Dahra is one of the main exporters in Serbia to the UAE, boosting bilateral foreign trade and developing local agricultural production. Moreover, Al Rawafed and Elite Agro are major investors in the Serbian agricultural sector. Their established presence in fruit and vegetable processing is a testament to the enduring cooperation between the UAE and Serbia.
Belgrade Waterfront / Photo: Aleksandar Matić
The megaproject Belgrade Waterfront is certainly the most well-known UAE investment in Serbia, which has significantly influenced the trends in the Serbian real estate market and raised its value. How do you assess the current development and importance of this project? Can it serve as a model for new UAE real estate investments?
Concerning UAE investments in Serbia, the Belgrade Waterfront is certainly one of the most recognizable and concrete projects that our two countries have started. I am serving my diplomatic term during the most significant development phase of this project, which is creating a beautiful and cosmopolitan area in Belgrade for local and international residents. The Belgrade Waterfront has also introduced notable design innovations to the area, as UAE company Eagle Hills has pushed the boundaries of what is possible to establish a tourism and business center with spectacular views and offerings. I am confident that this project will stimulate additional investors from the UAE and worldwide to develop projects of this kind throughout Serbia and the broader Balkan region.
How appealing is the UAE for investors from Serbia, and in which industries is it possible for Serbian companies to be more engaged in your market?
Due to the UAE’s world-class infrastructure and global connectivity, and investor-friendly regulations, the UAE continues to attract foreign direct investment from all over the world. The UAE has been attracting direct foreign investments from all over the world. Regularly receiving top rankings in ease of doing business indices, the UAE is a place where people have found a very attractive zone for business operations and enjoy a high quality of life. Now, the UAE is home to more than 200 nationalities that live in harmony.
Ever since I started my term in Serbia, Serbian businesses seeking to relocate to the UAE have approached me for further guidance. This strongly intensified after Serbian participation in Expo 2020 Dubai, where the UAE and 191 other nations presented a wide range of economic opportunities and market offerings. The UAE Government is working tirelessly to bolster opportunities in innovative fields such as energy efficiency, electric mobility, green buildings, smart cities, agri-tech, and climate-tech, and Serbia's companies are invited to explore how they, too, can get involved in the UAE’s economic success story for mutual benefit.
Museum of the Future, Dubai / Photo: Pexels
Dubai hosted Expo 2020, which received over 24 million visits over six months. How would you summarize your impressions and insights after organizing such a huge and fantastic event and what could Belgrade, as a candidate for hosting Expo 2027, learn from your experience?
During the six-month runtime Expo 2020 Dubai, and much longer when counting the preparation process, 192 participating countries turned the UAE into the world itself to showcase the value of international cooperation and celebrate human brilliance. Regular flights between Serbia and the UAE during Expo 2020 Dubai resulted in many businesses visiting the UAE to participate and explore future-oriented opportunities. Serbia’s candidacy for Expo Belgrade 2027, which promotes sports and music globally, will be an ideal way to promote the country and foster new growth opportunities.
Dubai / Photo: Freepik
Dubai is a city of modern architectural wonders. The Burj Khalifa, with its height of 828 meters, is still the tallest building in the world, and the Museum of the Future, which is described as one of the most beautiful buildings in the world, has recently been added to the numerous architectural gems. What other structures or future projects would you highlight, not only in Dubai, that will no doubt astound us?
Intense and rapid growth has taken place in the UAE since its founding as a country over 51 years ago. Numerous mega projects have been built in the UAE, starting with artificial islands, then architectural masterpieces such as the Sheikh Zayed Grand Mosque, the Burj Khalifa, the Louvre Abu Dhabi, the Museum of the Future, and many others. Currently, megaprojects being developed in the UAE include Dubai Creek Tower as the tallest building on the planet, then Burj Jumeirah, the new gem of the UAE, and the Guggenheim Museum in Abu Dhabi, among others. As the UAE continues to build these marvels, its focus remains on sustainability and green construction in urban planning.
The Sheikh Zayed Grand Mosque / Photo: Ivan Andrejić
The UAE is among the top ten countries with the most LEED-certified buildings outside the US, while Dubai is ranked third in the world as the city with the most green buildings. What was required to reach this level of sustainable construction, and what lies ahead of you to reach the goal of net-zero emissions by 2050?
The UAE is a successful model of the new green economy to support long-term growth. Through its Net Zero by 2050 Strategic Initiative, the UAE is implementing green projects across various sectors such as clean energy, water desalination, green buildings, carbon capture and storage, transportation, infrastructure, and others.
The UAE’s focus on sustainability is an enduring priority in efforts to meet the Sustainable Development Goals. The UAE has established strict green standards and regulations with regards to new construction. Developers are increasingly working to bolster the energy efficiency of buildings using a mix of energy sources. The use of 3D printing is also growing in the UAE construction sector, which ensures that projects are finished quicker with less material waste. As a result, the construction industry is witnessing an increase in updated machinery and tech-driven practices that are contributing to efforts to reach realistic zero carbon emission goals.
Dubai Creek Tower / Photo: EMAAR Properties
In December, Dubai will host the UN Climate Change Conference (COP28). What are your country's biggest challenges in fighting the consequences of climate change, and how are you dealing with them?
In light of high temperatures, water scarcity, and significant energy demands facing the region, the UAE has always seen climate action as an opportunity to contribute practical solutions to a global problem that affects all while diversifying its economy and creating knowledge, skills, and jobs for youth. For COP28 UAE, we are passionate about enabling transformational change through constructive partnerships that deliver solutions with measurable outcomes. Hosted by the UAE in late 2023, COP28 UAE aims to transform and urgently accelerate climate action to meet the commitments the world has made to limit global warming to below 1.5°C. Working alongside the UN Climate Change High-Level Champion and the UAE Youth Climate Champion with parties and partners, our objectives for COP28 are to prioritize accelerating the energy transition and reforming land use and food systems while scaling up both mitigation and adaptation and operationalizing loss and damage. COP28 UAE will strengthen the voices of underrepresented and vulnerable communities, embrace changes to advance the real economy, and highlight where progress has been made and how to build upon it. Moreover, the COP28 UAE Presidency is focused on adaptation, financing, loss and damage, and mitigation and will elevate key solutions across nature, food, health, and security.
The Guggenheim Museum / Photo: Gehry Partners, LLP
This is the sixth year of your diplomatic mission in Serbia. How much did you get to know our country, people, and customs during that time, and what will you take away as the best impressions from here one day?
Since the time I began my diplomatic service as UAE Ambassador to Serbia, my strongest impression of Serbia has been the hospitality and kindness of the Serbian people. The country itself has huge tourism potential, and I have enjoyed every moment here. The landscapes are beautiful, from the plains and wheat fields in the northern part of Vojvodina to the slopes of Kopaonik and Pešter in the south. Serbia’s natural offerings are remarkable, especially the rivers and beautiful mountains from Fruška Gora through Zlatibor and Zlatar all the way to Kopaonik.
By: Gordana Knežević Monašević
Photo: Dario Konstantinović
