The founder and chairman of Eagle Hills Properties is Mohamed Alabbar, one of the most influential entrepreneurs in the Middle East. With over 30 years of experience in the real estate sector, Alabbar is also the founder of Emaar Properties – the company behind world-renowned landmarks such as Burj Khalifa and Dubai Mall, which have redefined modern urban living on a global scale.
Alabbar is known for his visionary approach to creating iconic, human-centered urban districts that not only reshape cityscapes, but also strengthen local economies, social connectivity, and infrastructure.
Under Alabbar’s leadership, projects have been developed in more than 18 countries, including Serbia, Morocco, Georgia, Egypt, Bahrain, Albania, Latvia, and Ethiopia. Each project embodies contemporary design, sustainable development, and community integration, while delivering strong economic impact and creating iconic contributions to the urban landscape.
The developer behind Riga Waterfront – Eagle Hills Properties – is an internationally recognised real estate development company headquartered in Abu Dhabi, United Arab Emirates. With a project portfolio exceeding USD 40 billion, Eagle Hills operates across 13 countries and three continents – Europe, Africa, and the Middle East.
Eagle Hills Properties specialises in the development of integrated, large-scale urban destinations, with a strong focus on coastal locations, hospitality, retail hubs, and sustainable communities.
The company’s projects – including Belgrade Waterfront (Serbia), Marassi Al Bahrain, and Ramhan Island (UAE) – have become landmark examples of transformative urban development around the world.
Eagle Hills Properties is guided by the principles of responsible development, ensuring a careful balance between architectural ambition, environmental stewardship, and the needs of local communities. Riga Waterfront is part of this global vision – an opportunity for Riga to become a new symbol of contemporary urban living in Europe, where innovative design, local identity, and public benefit are seamlessly integrated.
The Riga Waterfront development is envisioned as one of Latvia’s most impactful economic transformations, with the potential to revitalize the heart of Riga and strengthen the country’s competitiveness within the Baltic region.
The implementation of Riga Waterfront is expected to create tens of thousands of jobs, both during the construction phase and through long-term operations. The project will boost tourism and international interest in Riga, raise property values in surrounding neighbourhoods, attract new residents and businesses, and serve as a key catalyst for the revitalisation of the city centre.
Once fully operational, Riga Waterfront is projected to contribute over €2 billion annually to Latvia’s GDP, driven primarily by real estate development, hospitality and tourism services, as well as commercial activities and related services.
In addition, the project is expected to generate an indirect annual impact of over €120 million across related sectors such as food supply, logistics, entertainment, and infrastructure services.
Riga Waterfront will be more than just a city district – it will serve as a long-term economic engine, strengthening the global position of both Riga and Latvia, promoting balanced development, and delivering tangible benefits for residents, businesses, and future generations alike.
The Riga Waterfront project is being developed by Eagle Hills Properties, an international real estate developer and investor based in the United Arab Emirates, with a planned investment of over €3 billion.
The investor’s focus lies in creating integrated urban masterplans and vibrant communities that support long-term urban and economic growth. Eagle Hills Properties operates in full compliance with local laws and regulatory frameworks and is fully committed to collaborating with all community stakeholders, government institutions, and local partners in a transparent and inclusive manner.
The Riga Waterfront project is being developed in close cooperation with the City of Riga, with full respect for the city’s urban development plan and the significance of Riga’s industrial heritage.
This approach is reinforced by a cooperation memorandum signed in early 2024 between Eagle Hills Properties and the Riga City Council, affirming a shared vision for the development of a modern, open, and sustainable urban environment.
