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Belgrade’s Hotel Jugoslavija Sold, Sparks Redevelopment Controversy

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Belgrade’s iconic Hotel Jugoslavija, located in Serbia’s capital, has been sold for approximately €27 million to MV Investment, affiliated with the Millenium Team.

The acquisition, part of a bankruptcy settlement with Danube Riverside, paves the way for a €400 million redevelopment into a luxury residential and business complex, including a high-end hotel. This comes amid the City of Belgrade’s contentious plans for a new 155-meter high structure on the site, unveiled in September 2023, sparking debates over urban development and heritage preservation.

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Criticism from the group Ministarstvo prostora and public opposition focus on the urban plan’s perceived regulatory non-compliance and the need for a thorough assessment of the hotel’s cultural value. The redevelopment controversy is accentuated by the hotel’s historical significance, including its damage during the 1999 NATO bombing and its debated status as a cultural asset. The ongoing dialogue underscores the challenges of integrating Belgrade’s historical essence with contemporary urban development.

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