economy
April 6, 2026
A 6.8 Million Euro Hotel is Being Built in Belgrade! Here's Who's Financing It
The state continues to encourage investments in the hotel sector and the renovation of attractive buildings in central urban areas, providing financial support for projects of significance to tourism and the economy. The latest example is a subsidy agreement for the reconstruction and repurposing of a recognizable building in the center of Belgrade, which includes clear deadlines, investment obligations, and implementation control mechanisms.
TL;DR
- The Serbian Ministry of Economy granted 6.8 million euros in subsidies to Libra Development d.o.o.
- The funds are for the reconstruction and repurposing of the former Jugobanka building in Belgrade into a hotel.
- The investor must invest at least 34 million euros within two years, with a minimum of 25% from their own sources.
- The subsidy will be paid in two tranches: approximately 2.42 million euros in 2026 and 4.38 million euros in 2027.
- Libra Development must complete the project on time, maintain the investment and activity for five years post-completion, and uphold the property's value and hotel category.
- The Ministry will monitor the project and has the right to terminate the contract and reclaim funds with interest if obligations are not met.