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New Belgrade rose "from scratch" on a wasted empty marshland by the river Sava, just across the oldest city center. It started after World War II as an ambitious plan for a future administrative center of socialist Yugoslavia, to be later transformed into a gigantic, grey dormitory. Since 1990s, the role of New Belgrade has completely changed due to the collapse of the state economy, the reappearance of a real estate and land market, an open door policy for foreign investments and a project-oriented type of planning. This was a powerful trigger mechanism for emphasizing the latent advantages of this municipality: its unique central position, abundant space for new construction and good transport connections. The municipality became the primary destination for massive investments that dramatically altered its economic and employment function, especially the area in the vicinity of the city's core business district. © 2014ETH -Eidenössiche Technische Hochschule Zürich.