NewsJared Kushner eyes Balkan development with potential Saudi backing
Jared Kushner eyes Balkan development with potential Saudi backing
Jared Kushner, son-in-law and former advisor to Donald Trump, is reportedly on the verge of finalising deals related to the development of major properties in Serbia and Albania, with potential funding from Saudi Arabia, according to "The New York Times." Kushner, having served as an advisor to the former US President and being privately related as his son-in-law, is embarking on two notable investments in the Balkans – specifically, in Albania and Serbia. He aims to transform an Albanian island into a premier tourist resort, while in Serbia, his plans include erecting a luxurious hotel.
ed. KRO
17 March 2024 15:22
However, it's not merely Kushner's business endeavours that are reigniting debates across the Atlantic about Trump's controversial son-in-law, but also his choice of partners for these projects. "The New York Times" reports Kushner's collaboration with Richard Grenell, who served as the US's special envoy to the Balkans during Trump's presidency.
It seems Kushner's business ventures are benefiting from connections fostered by Donald Trump during his tenure in the White House, as outlined by "NYT". Moreover, Kushner's investment firm, with access to £1.6 billion from the Saudi Arabian Public Investment Fund and other foreign investors, is behind these projects. Yet, Kushner's firm has stated that the decision to use Saudi funds for Balkan investments hasn't been finalised.
Jared Kushner's interests in the Balkans
Following Trump's departure from office in 2021, Kushner has made two visits to Albania, meeting with Prime Minister Edi Rama among others, accompanied by Richard Grenell, as reported by "NYT". Their attention is especially focused on Sazan Island, previously utilized by Albania's communist regime as a clandestine submarine base.
An additional deal involves constructing a grand hotel featuring 1,500 rooms and a museum in Belgrade. Planned on the site of the former Yugoslav army headquarters – demolished during NATO airstrikes in 1999 – the remaining structure stands as a poignant reminder of the bombings and has been designated a cultural monument.
Will the Saudis finance Kushner's investments?
Both projects would be situated on lands governed by the respective countries, necessitating formal agreements with Albanian and Serbian authorities. Kushner's investment firm, boasting access to £1.6 billion from the Saudi Arabian Public Investment Fund and additional foreign sources, is poised to execute these investments. Nonetheless, the firm reiterates that the investment of Saudi funds in the Balkans remains undecided.
"NYT" highlights Grenell's role in facilitating Serbia-Kosovo dialogue during the previous US administration, enabling him to forge strong connections with Albanian officials. Sources suggest Grenell aspires to the Secretary of State position should the Republican candidate secure a second term, with US presidential elections on the horizon in November.
Criticism of Kushner's investments
"At this phase in the election cycle, Jared Kushner ought to suspend any forthcoming investment ventures," advises Robert Weissman, President of Public Citizen, viewing such plans as emblematic of the previous administration's corruption. Despite this, Kushner assures that he does not plan to return to Washington, even if his father-in-law wins the forthcoming election.
