According to Serbian Economist, Jared Kushner’s company may demand up to EUR50 million in compensation from Serbia for failing to fulfill the terms of the contract regarding the construction of a hotel and residential complex on the site of the former General Staff building in central Belgrade, said Marinka Tepić, vice-chair of the opposition Freedom and Justice Party.
According to her, the contract between the Serbian government and Kushner’s company stipulated obligations on Serbia’s part regarding the preparation of the site for the project, but these were not fulfilled. Tepić claims that because of this, Kushner’s company may seek compensation of EUR50 million.
So far, this is merely a statement by an opposition politician, not a publicly confirmed lawsuit or an official claim by Kushner’s company.
The project involved the site of the former General Staff complex in Belgrade, which was damaged during the NATO bombings in 1999. The complex had long held cultural heritage status, but in 2024, the Serbian government removed its protected status, paving the way for the development project.
According to media reports, the Serbian side agreed to transfer the site to a company linked to Kushner under a long-term 99-year lease. The project called for the construction of a hotel, apartments, and office and commercial spaces in one of Belgrade’s most prominent locations.
The initiative sparked strong opposition from Serbian opposition groups, architects, and activists. For many Belgrade residents, the General Staff building remains not just a ruined structure in the city center, but a symbol of the 1999 NATO bombings and a reminder of Serbia’s modern history. Opponents of the project demanded that the complex retain its memorial and cultural status rather than be turned into commercial real estate.
The situation became more complicated following an investigation into the documents on the basis of which the complex was stripped of its cultural monument status. Serbian prosecutors had previously charged current and former officials in a case involving the possible forgery of documents used to remove the General Staff building’s protected status. Following this, Western media reported that Kushner had abandoned the project amid protests and legal issues surrounding the site.
Jared Kushner is an American entrepreneur, founder of the investment firm Affinity Partners, son-in-law of U.S. President Donald Trump, and former senior advisor to the White House during Trump’s first presidential term.
Serbian President Aleksandar Vučić sharply criticized the project’s collapse and stated that the country had lost a major investment.
According to him, the project involved at least EUR750 million in investments and thousands of jobs. Vučić promised to personally file criminal complaints against those who, in his words, participated in a “campaign” to destroy the project.
For Serbia, a potential claim for compensation marks a new phase in a politically sensitive case. On the one hand, the authorities presented the project as a major investment that could revitalize one of the most prominent locations in central Belgrade. On the other hand, opponents of the project believe that the state should not have transferred a symbolically important site to a private foreign investor for a hotel and commercial development.
The key question now is whether Kushner’s company will file a formal claim against Serbia and on what grounds. No official announcement from Kushner’s company regarding the filing of a lawsuit or a claim for EUR50 million has been published in open sources at this time.
