Jared Kushner’s investment firm, Affinity Partners, withdrew its application for a Trump-branded hotel project in Belgrade after Serbian prosecutors indicted four officials, including a cabinet minister, over their involvement. The development had sparked protests and controversy after the Serbian Parliament stripped historic protections from buildings on the proposed site. Affinity said it was stepping aside out of respect for the people of Belgrade. The move is likely to intensify scrutiny in Washington over foreign business ties involving the Trump family.
Kushner-Backed Firm Pulls Plug On Trump-Branded Belgrade Hotel After Indictments
Jared Kushner’s investment firm has withdrawn its application for a planned Trump-branded hotel complex in central Belgrade after Serbian prosecutors indicted four government officials, including a cabinet minister, over their role in advancing the project.
The planned development — a trio of towers on a prominent site in the heart of Belgrade that was damaged during NATO’s bombing campaign — drew strong public opposition. Critics raised alarm after the Serbian Parliament voted last month to strip historic-site protections from several buildings on the proposed site, clearing a legal path for demolition and new construction.
A protester waves the Serbian flag as Serbian students and Belgrade residents gather for a protest in Belgrade on November 11, 2025, against a plan by Jared Kushner, the son-in-law of U.S. President, to demolish the former Yugoslav army headquarters and build a luxury hotel on the site. The issue is sensitive in Serbia because the buildings were bombed multiple times in 1999 during a NATO air campaign led by the United States to end the Kosovo War (1998-1999). (Photo by Andrej ISAKOVIC / AFP) (Photo by ANDREJ ISAKOVIC/AFP via Getty Images)
“Because meaningful projects should unite rather than divide, and out of respect for the people of Serbia and the City of Belgrade, we are withdrawing our application and stepping aside at this time,” a spokesman for Affinity Partners, Kushner’s private-equity firm, said after the indictments were announced.
The Wall Street Journal first reported that Affinity Partners made the decision after a special prosecutor charged the four officials with actions tied to the project. The indictments and the public protests appear to have removed the political and legal support the venture needed to proceed.
In Washington, Democrats have long scrutinized Jared Kushner’s overseas business dealings, particularly where those dealings intersect with his role in government or with foreign officials. Critics say the Belgrade episode underscores the political risks that accompany high-profile, internationally connected developments tied to prominent U.S. political figures.
For now, Belgrade’s historic structures slated for the site appear to be spared demolition. Still, the controversy is likely to sustain scrutiny of potential conflicts of interest and of how foreign governments engage with the families of senior U.S. officials.
