The site, known as Generalstab, was heavily damaged during Nato air strikes on Yugoslavia during the Kosovo War but a special law passed in the Serbian parliament, by 130 votes to 40, will allow its redevelopment into a luxury hotel, apartments and retail complex.

The $500 million (£370 million) project is being led by Affinity Partners, the Miami-based investment firm founded by Jared Kushner, the son-in-law of former US president Donald Trump.

Serbian president Aleksandar Vucic has given his personal backing to the plan, which supporters say will revitalise one of the most valuable stretches of real estate in the city centre. However, critics have described the project as an attempt to erase a national monument.

Architects Katarina and Marina from the civic group arh.politicne said: "The demolition of the Generalstab must not happen. We will defend it. Given the shock this decision has caused, we expect various actions to take place in the coming days – peaceful protests and initiatives led by different activist and professional collectives – all aiming to increase public pressure and prevent this from happening."

Prominent opposition politician Marinika Tepic criticised the government’s decision, saying it sacrificed memory for political gain.

Tepic said: "You are sacrificing the nation’s history to please Trump and planning to pour champagne where bombs once fell."

Another Belgrade architect told The Telegraph: "To hand over this site to private investors connected to Donald Trump’s family – to the very same side that initiated the 1999 bombing – is viewed by most people here as an unacceptable and symbolic act of betrayal."

But lawmakers who supported the bill said the project would boost Belgrade’s international profile.

Serbian parliamentarian Milenko Jovanov said: "Whether [the hotel] will lead to improving relations with the Trump administration, with the United States – honestly, I would like that."

The redevelopment, branded Trump Tower Belgrade, has already begun advertising pre-sales for what it calls “unrivalled luxury” on its website, despite growing domestic and international controversy over the decision.