Serbia’s President Aleksandar Vucic told reporters on December 16 that Serbia had lost an investment worth at least €750mn after Jared Kushner withdrew from a planned Trump-branded hotel project in central Belgrade, vowing to file criminal complaints against those he accused of sabotaging the deal.

Kushner, the son-in-law of US President Donald Trump, pulled out of the project on December 15 after it sparked public protests and became entangled in a corruption investigation.

The withdrawal followed an indictment filed the same day by Serbia’s Public Prosecutor’s Office for Organised Crime against Culture Minister Nikola Selakovic and three other officials over alleged abuses of office linked to the removal of heritage protection from the former Yugoslav army General Staff complex.

Vucic said the abandonment of the project showed how political opposition and prosecutors were driving investors away from Serbia, Tanjug reported.

“Unfortunately for the state and the people, we are big losers. We lost an exceptional investment of at least €750mn,” Vucic said, adding that the total economic damage caused by what he called “blockaders and the prosecution” amounted to no less than €1.5bn.

He said he would personally file criminal charges against “everyone in the police, the prosecutor’s office, as well as all other persons” whom he accused of contributing to the collapse of the project.

The planned development aimed to redevelop the former General Staff complex, which was destroyed during NATO’s 1999 bombing campaign, into a luxury hotel and residential complex. The site had long been protected as a cultural heritage landmark, making the project highly controversial.

Vucic dismissed criticism that the development was poorly conceived, saying Serbia was now suffering reputational damage as a result.

“Enormous damage has been caused to Serbia,” he said. “In the city centre, we will now have a collapsed building that no one will want to touch anymore.”

He added that the project would have created hundreds of construction jobs and thousands of longer-term positions, and lamented what he described as Serbia’s tendency to squander opportunities.

“This shows that we, Serbs, are masters of missed opportunities,” Vucic said.

Selakovic has denied wrongdoing and has accused prosecutors of acting with political motives. The prosecutor’s office has said its investigation is ongoing.