News Article Albania development hotel SEE Serbia
by Property Forum | Hotel

Businessman Jared Kushner, the son-in-law of former US President Donald Trump, is now venturing into the Balkans with ambitious plans for transformative property developments across Albania and Serbia. Through his Miami-based private equity firm, Affinity Partners, Kushner is engaged in advanced discussions for investments exceeding $1 billion, aiming to reshape the landscape of tourism and real estate in Southeast Europe, the New York Post reports.

One of Kushner's ambitious projects involves the conversion of Albania's Sazan Island, once a military stronghold, into a luxurious Aman-branded eco-resort community. This endeavor underscores Kushner's vision to capitalize on the region's natural beauty and burgeoning tourism sector.

Kushner's interests extend beyond Albania, with Affinity eyeing another significant venture in Serbia's capital, Belgrade. Here, Kushner plans to revitalize a historic area left vacant since the NATO bombing in 1999, envisioning a luxury hotel, commercial spaces, and over 1,500 residences.

The article also notes that while these ventures promise economic growth and development for the region, they also attract scrutiny, particularly regarding funding sources. Affinity has secured substantial backing from Middle Eastern state-backed investors, including approximately $2 billion from Saudi Arabia's Public Investment Fund. Despite criticism, Kushner maintains that his firm follows all laws and ethics rules.