Jared Kushner, who is the son-in-law of Donald J. Trump, announced on Friday that he is finalizing significant real estate deals in Albania and Serbia. This is another instance of the former president’s family engaging in business ventures overseas while Mr. Trump aims to return to the White House.
Kushner’s plans in the Balkans seem to have stemmed from relationships cultivated during Mr. Trump’s presidency. He has been working on these deals with Richard Grenell, who previously served as acting director of national intelligence and ambassador to Germany under Mr. Trump. One of the proposed projects involves developing an island off the coast of Albania into a luxury tourist destination. Another project in Belgrade, Serbia, would include a luxury hotel, residential units, and a museum at the site of the former Yugoslav Army headquarters destroyed in 1999 by NATO bombings. These projects require finalizing deals with the respective governments.
A third project in Albania would be built on the Zvërnec peninsula, a coastal area in Vlorë, where hotels and villas would be constructed. Kushner’s involvement in these projects would be through his investment firm, Affinity Partners, which has funding from Saudi Arabia’s Public Investment Fund among other foreign investors. While the deals have not been finalized yet, Kushner expressed excitement about the progress made.
Kushner established his investment company after leaving his White House position, leveraging connections he made in the government. Grenell, who also made valuable connections during his time in government, has been instrumental in facilitating investments in the Balkans. The Trump family’s involvement in foreign business deals has been scrutinized, with critics raising concerns about potential conflicts of interest.
Kushner and his wife, Ivanka Trump, have distanced themselves from Mr. Trump’s political activities since the Capitol attack in 2021. Their visits to Albania have been in conjunction with Grenell to explore potential investment opportunities. The projects in Albania, including the development of Sazan Island, aim to boost tourism and attract foreign investors to the region.
The day-to-day management of these projects will be overseen by Asher Abehsera, a real estate developer who has worked with Kushner in the past. Grenell has emphasized that his deal-making efforts are separate from his government role, focusing on private equity projects to generate profits. The collaboration between Grenell, Kushner, and local officials in Albania underscores the interest in investing in the Balkans for economic growth and development.
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