Serbia’s national football stadium is now scheduled for completion in early 2028, following another revision to the construction timetable that moves delivery beyond Expo 2027, despite the project having previously been expected to be completed before the international exhibition.
Construction at the site will be suspended from mid-May to mid-August 2027, while Expo 2027 is taking place. The stadium forms part of the wider Surčin development zone, alongside the exhibition complex, a railway station and major road infrastructure. According to government officials, halting heavy construction during the exhibition is necessary to reduce safety and logistical risks for visitors.
The revised schedule means the 52,000-seat stadium will not be operational during Expo 2027, although it has been consistently presented together with the exhibition precinct as part of the same public development programme.
Construction Progress and Revised Timeline
Construction officially began on 1 May 2024. The stadium was designed by Fenwick Iribarren Architects of Spain, while PowerChina serves as the principal contractor. Before construction of the main structure could proceed, the project required the installation of 2,300 foundation piles to stabilise weak ground conditions.
Work on the steel roof structure is nearing completion, while installation of seating tiers is under way. Interior construction, mechanical systems and finishing works remain outstanding. The delivery schedule has been revised several times. The original completion target of December 2026 was later moved to March 2027 and has now been postponed to the beginning of 2028.
Project Cost and Budget Allocations
The Serbian government maintains that the stadium itself will cost approximately €468mn, stating that the final price is not expected to increase significantly beyond €460mn. An earlier feasibility study had estimated construction costs at around €257mn.
Budget figures indicate that more than RSD49bn, equivalent to roughly €420mn, had already been spent by the reported cut-off date. The state budget allocates an additional RSD16.4bn for 2027 and RSD7.2bn for 2028, together valued at approximately €201mn.
The relationship between these budget allocations and the stated €468mn project value has not been fully detailed. Publicly available figures do not specify how individual budget lines are divided between the stadium contract, related infrastructure, taxes or associated construction works.
Public Spending Profile and Financing Structure
Annual expenditure has varied from planned allocations throughout the project. During 2023, spending reached RSD17.3bn against a planned RSD22.4bn. In 2024, RSD25.6bn was spent compared with a budget allocation of RSD31bn.
In 2025, expenditure totalled RSD2.5bn from a planned RSD18.5bn. During the first five months of 2026, spending amounted to RSD3.87bn, while the annual allocation stood at RSD21.2bn.
Lower annual execution does not necessarily indicate that construction activity has ceased, as payments under major construction contracts may be linked to certified project milestones. However, recurring differences between planned and realised expenditure affect the timing of budget obligations and complicate calculations of the remaining project cost.
The Fiscal Council has estimated that the combined cost of the stadium and related infrastructure could exceed €960mn. That estimate includes infrastructure required to make the venue operational and accessible, extending beyond the construction cost of the stadium structure itself. Funding for the project is being provided through a combination of state budget resources, bond issuance and commercial borrowing. Unlike certain other Serbian infrastructure developments involving Chinese contractors, the stadium project has not been presented as being financed through a dedicated Chinese state loan.
Expo Construction Suspension
The temporary suspension of works during Expo 2027 follows the decision to develop both the stadium and exhibition facilities within the same Surčin zone. The financial impact of the construction pause will depend on contractual provisions relating to schedule extensions, site maintenance costs during the suspension period and the sequencing of works before and after the exhibition.
