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.
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.