Serbia terminates Kushner hotel deal at NATO-bombed military headquarters site
Serbia has terminated its agreement with a company linked to Jared Kushner, U.S. President Donald Trump's son-in-law, to redevelop the former Yugoslav military headquarters in Belgrade, a landmark damaged during NATO's 1999 bombing campaign.
Both sides have waived any financial claims against each other, Serbian magazine Vreme reported on November 14, citing a government source.
The decision brings a formal end to a controversial project that envisioned a luxury hotel, casino and residential complex on the site, including a hotel under the Trump brand.
A 99-year lease and a potential €50 million penalty
The agreement was signed in May 2024, with Kushner's investment firm behind the planned development.
According to details of the previously undisclosed contract reported by Serbian investigative outlet Radar, the government had agreed to remove the site's protected cultural heritage status, demolish the existing buildings at public expense and provide the land to the investor free of charge for 99 years.
Serbia had until May 2026 to fulfill those obligations. Failure to do so could have allowed the investor to seek compensation of up to €50 million ($58 million).
Vreme's government source said the agreement had now been terminated with both sides waiving all potential claims, apparently removing the threat of arbitration or financial penalties.
Neither the Serbian government's general secretariat nor Kushner's company responded to Vreme's requests for comment before publication.
A landmark at the center of a criminal case
The former Yugoslav General Staff complex, built in the 1960s, is considered an important example of postwar modernist architecture. It was heavily damaged during NATO airstrikes in 1999, during the Kosovo war.
Plans to replace the complex with a Trump-branded development sparked protests and controversy over the preservation of a site closely associated with Serbia's experience of the bombing campaign.
The Serbian government revoked the complex's cultural heritage protection in November 2024. Prosecutors subsequently alleged that the decision had been based on a forged document.
In December 2025, prosecutors indicted Culture Minister Nikola Selaković and three other officials in connection with the case. All four have pleaded not guilty.
Kushner's company announced its withdrawal from the project on the same day the indictment was filed.
The trial is ongoing, with the next hearing scheduled for November 23.
The agreement had also faced criticism over concerns that the Serbian government was offering favorable terms to a company associated with Trump's family.
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