Serbia is continuing with one of the most controversial investments of recent years. While the authorities are working intensively on the fourth phase of the development plan, experts warn that the stadium may only pay for itself in hundreds of years.

Preparations for phase IV

The construction of National Stadium in Serbia is one of the most ambitious infrastructure projects in the country. The authorities are continuing work on the fourth phase of the spatial development plan, which includes a special-purpose area. The Serbian Agency for Spatial Planning and Urban Planning has issued a tender for the implementation of this phase, with the Belgrade Urban Planning Institute, which has exclusive urban planning rights in the capital, to be the main contractor.

The fourth phase of the plan covers an area of as much as 826 hectares, making it the largest in the project's history. By comparison, the original 2022 plan covered 119 hectares, with subsequent phases gradually increasing this coverage to 167 and 350 hectares. According to the plans, the site of EXPO 2027, on which the stadium will stand, will be transformed into a residential area for 4,500 people with educational and service facilities after the event.

The cost of developing the fourth phase of the plan was estimated at 21.4 million dinars including VAT. The funds for this have been secured in the state budget, more specifically within the current budget reserve. This is a controversial decision, as the funds were originally planned to be used for other infrastructure projects, such as roads or the Belgrade metro. A total of 2.9 billion dinars were transferred from the budget reserve to various infrastructure projects, of which 22 million dinars went to the development of the stadium. The budget reserve, as the Fiscal Council explains, is for unplanned expenses during the year.

© SERGIO_SPECTOR | Construction of Nacionalni Stadion

Experts on (un)viability of National Stadium

The profitability of the investment itself is also controversial. The Institute for the Study of Urgent Public Procurement and Stadium Matters (IPHJNSP) in Śrem Kamenica has carried out an analysis which concludes that the National Stadium will only become profitable after 420 years. With current costs estimated at €1 billion, the return on investment would require maximum use of the facility for a variety of events (up to two events per day), from football matches to unusual events such as weddings or christenings.

Milisav Džombić of the IPHJNSP stresses that even if costs increase by another €200 million, a return on investment remains possible, albeit over a 500-year horizon. As he noted, Since we could wait 500 years for the Turks to leave, we can also wait for the income from the stadium, we are a patient nation.

© Fenwick Iribarren Architects | Design of Nacionalni Stadion