Plans for a $500 million Trump Tower in Belgrade have been cancelled after protests and a legal investigation. The project, backed by Jared Kushner, former White House adviser, was halted after Serbian prosecutors indicted officials over removing the site's cultural heritage status.
Serbian prosecutors have indicted Culture Minister Nikola Selaković and other officials for their alleged roles in allowing the redevelopment of the site.
They face charges of abuse of office and falsifying documents. The court is expected to decide whether to approve the indictment, a process that could take several months.
The project was to include a hotel, apartments, offices, and retail spaces. However, it faced significant opposition from local residents and cultural preservationists, who argued that the area should be preserved as a monument due to its historical significance of former Yugoslavia and its damage during the 1999 NATO bombing.
Protests intensified after the Serbian parliament passed laws that fast-tracked the development, easing procedures for construction permits. Critics claim these laws ignored public objections and threatened the integrity of Serbia’s cultural heritage.
While President Aleksandar Vučić initially supported the project for its economic potential, he later acknowledged the loss of the investment due to the ongoing legal issues. He has promised that those responsible for the illegal actions will be held accountable.
Jared Kushner’s Affinity Global Development, which partnered with the Serbian government on the project, announced its withdrawal after the legal investigation escalated. The company cited concerns over further division and complications arising from the controversy.
The cancellation highlights Serbia's struggle to balance foreign investment with cultural preservation. The case also reflects broader political instability in the country, including ongoing protests over governance and corruption.
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