Government established joint venture with Trump’s son-in-law in February 2024 to build hotel, apartments and museum complex
The Serbian government has established a joint venture with a property development company owned by Donald Trump’s son-in-law, Jared Kushner, to develop a hotel complex in Belgrade, giving Serbia until next May to demolish the existing buildings, according to leaked documents.
An independent Serbian news magazine, Radar, published what appears to be a 2024 investment agreement giving Kushner’s firm Atlantic Incubation Partners LLC a 77.5% stake in the joint venture, and the Serbian government a 22.5% stake.
The joint company was formed to redevelop the site of the Serbian armed forces headquarters in Belgrade, which was bombed by Nato in 1999. The plan provoked protests in the city centre.
The Serbian government has not disputed the authenticity of the published documents. While the agreement dates back to February 2024, it was kept secret and became a flashpoint only last week, after Serbia’s national assembly passed a special law to fast-track development of the site as a “project of importance for the Republic of Serbia”.
