Kushner's billion-dollar vision for Albania's Sazan Island
Jared Kushner wants to build over $1 (CAD 1,4) billion of luxury hotels and apartments on the rocky Sazan Island in Albania. During the Cold War, it housed a military base. Donald Trump's son-in-law also plans to build a hotel on the site of the current ruins of the General Staff of the Yugoslav Army.
Sazan Island has an area of about 5 square kilometres and approximately 50 people are expected to inhabit it. This may change in the future thanks to Jared Kushner, an entrepreneur and Donald Trump's son-in-law.
"Kushner aims to build luxury villas stacked onto cliff tops towering over where the Adriatic and Ionian seas meet in the Mediterranean, blending into the rugged landscape. The hotel will be operated by the exclusive brand Aman, whose customers include Mark Zuckerberg, Bill Gates and the Kardashians (...) He plans to spend more than $1 billion to build hotels," highlights Bloomberg.
According to the agency's information, Kushner plans to allocate $1 (CAD 1,4) billion for investments supported by the Albanian government. The entrepreneur admitted in an interview with Bloomberg that he is "more and more excited" about the island's potential. Since 2021, he has visited Albania several times, the most recent being in June. He travelled to the region by private jet and helicopter, accompanied by his wife, Ivanka Trump.
The Albanian Ministry of Tourism and Environment confirmed that it had received an American project to redevelop facilities on Sazan Island. Work is underway to consider it.
Mirela Kumbaro, Minister of Tourism and Environment, stated that the investment agency of the Albanian government led by pro-American Prime Minister Edi Rama has received Kushner's application for the Sazan project and is evaluating it.
Serbian agreement
Kushner also plans an investment in Belgrade. Trump’s son-in-law intends to demolish the ruins of the General Staff of the Yugoslav Army, which were bombed by NATO in 1999, and build a hotel-apartment complex in its place. "Financial Times" calls this site the "shrine to Serbian nationalism."
Kushner, who also leads an investment fund with capital from Saudi Arabia, is said to have already signed an agreement with the Serbian government regarding the matter. He is supported by Richard Grenell, the special envoy for the Serbia-Kosovo dialogue during Donald Trump's presidency, who still maintains close relations with the governments of the region.
"The deal is a case study in how a small non-aligned state can prepare for Trump’s possible return to the White House, analysts say. It also reflects a heightened western focus on Serbia at a time when prising it away from its historical soulmate, Russia, has become a priority," observes the British newspaper.
"But the deal seems also patently political; the counterparty is after all the Serbian state. It sets up Vučić to have a close link to the White House in the event of a victory for his fellow nationalist populist, Trump, in November’s US election," adds "FT".
