Kushner's $1B luxury projects set to transform Albanian island

Sazan Island spans 2 square miles, and around 50 people are expected to inhabit it. However, this may change 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 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 potential of the Albanian island. Since 2021, he has visited Albania several times, most recently in June, accompanied by his wife, Ivanka Trump. The couple traveled to the Balkans by private jet and toured the region by helicopter.

The Albanian Ministry of Tourism and Environment confirmed that it had received an American project proposal for the redevelopment of facilities on Sazan Island. Work is underway to consider it.

According to Mirela Kumbaro, Minister of Tourism and Environment, the Albanian government's investment agency, led by pro-American Prime Minister Edi Rama, has received Kushner's application for the Sazan project and is currently evaluating it.

Kushner also plans an investment in Belgrade. Trump’s son-in-law wants to demolish the ruins of the General Staff of the Yugoslav Army, damaged during NATO bombings in 1999, and build a hotel-apartment complex in its place. The "Financial Times" calls this site the "shrine to Serbian nationalism."

Kushner, who also leads an investment fund with Saudi Arabian capital, has reportedly already signed an agreement with the Serbian government on 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 region's governments.

"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."