On Monday, Jared Kushner’s private equity firm Affinity Partners said it was withdrawing from the planned Trump-branded real estate deal in Belgrade, according to The Wall Street Journal. The move came after Serbian authorities charged four senior government officials with corruption-related charges.
The project would have replaced bombed-out buildings near Serbia’s government headquarters. While the buildings that were slated to be torn down were heavily damaged, Serbia had designated them as a cultural asset and an icon of the 1999 NATO bombing of Belgrade.
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Shortly after President Donald Trump was re-elected in November 2024, Serbian officials started to roll back the protections. The move sparked public outcry, and at least two Serbian development officials resigned.
A spokesperson for Affinity Partners said the company was pulling out because “meaningful projects should unite rather than divide and out of respect for the people of Serbia and the city of Belgrade.”
The Serbian officials charged all had a hand in approving the project and are now facing abuse of power and forgery charges. The prosecutor’s office said it is still investigating other individuals involved.
