Property Abroad
Blog
Jared Kushner's plans for a resort in Albania evoke fear and hope in the coastal town.

Jared Kushner's plans for a resort in Albania evoke fear and hope in the coastal town.

Jared Kushner's plans for a resort in Albania evoke fear and hope in the coastal town.

On April 4, 2024, at 4:00 AM Eastern Time, ZVERNETS, Albania, April 4 (Reuters) - Ornithologist John Vorpsey observes flamingos and pelicans through binoculars as they stop during migration in a protected area on the southern coast of Albania. Vorpsey fears that this sight may soon disappear if Donald Trump's son-in-law Jared Kushner continues plans to build a tourist resort in the area near the city of Vlorë, a favorite spot for locals due to its quiet pine forests, olive trees, and hiking trails where cows roam along deserted windy beaches.

Kushner announced plans last month as part of broader investments by his company Affinity Partners in the Balkans, which include another project on a neighboring island in Albania and a third in the former army headquarters in the Serbian capital, Belgrade. Kushner, a former senior advisor to Trump during his presidency, established the investment firm after leaving that position in 2021.

Impact on the environment

Projects can contribute to the development of the local economy by attracting tourists, but they have sparked protests from local residents who are concerned about environmental harm or, in the case of Belgrade, threats to cultural sites. Kushner presented the plans a few weeks after the Albanian parliament amended the law, allowing the government to issue construction permits in protected areas for hotels or resorts rated five stars and above.

The reaction of the local residents

“It’s a great sadness to know that this area will no longer serve future generations,” said Vorpsi, who works at the local environmental NGO PPNEA. “In 10 years, this place will be gray with concrete,” he added, watching new bird species through binoculars near the village of Zvernek.

Recommended real estate
Buy in Greece for 2349800€

Sale villa in Pire 2 537 415 $

4 Bedrooms

6 Bathrooms

500 м²

Buy in Greece for 125000€

Sale flat in Athens 134 980 $

1 Bedroom

1 Bathroom

61 м²

Buy in Greece for 450000€

Sale house in Paros with sea view 485 929 $

3 Bedrooms

2 Bathrooms

125 м²

Buy in Greece for 190000€

Sale townhouse in Halkidiki with sea view 205 170 $

2 Bedrooms

1 Bathroom

80 м²

Buy in Greece for 157000€

Sale flat in Halkidiki with sea view 169 535 $

1 Bedroom

1 Bathroom

46.8 м²

Buy in Greece for 599000€

Sale villa in Rethymno with park view 646 825 $

6 Bedrooms

3 Bathrooms

260 м²

This has already caused a wide resonance. Realtor Flori Brahimaj said that prices for apartments with a potential view of the planned project area have already increased by 100-200 euros per square meter.

Development plans

Ermal Dreda from Vlora welcomed Kushner's project, which includes yacht docks, swimming pools, and exclusive villas, stating that he plans to turn the city into a "high-end tourist destination" and promised not to harm the environment. "Without investments, how are we going to attract all these people coming here and choosing Vlora?" Dreda said.

The economic situation in Albania

Since the fall of communism in 1990, Albania has been struggling with economic and political instability and mass emigration, especially among the youth. However, its mountain lakes and unspoiled coastline have attracted more and more tourists looking for a quiet and cheaper alternative to nearby Greece and Croatia.

Last year, over 10 million tourists arrived here, which is 35% higher than in 2022. Kushner's plans, which locals refer to as the "Trump Villas," have already sparked significant controversy.

Project in Serbia

In Serbia, Affinity plans to finance a luxury project in the center of Belgrade, which will include a hotel, apartments, shops, and office spaces on the site where the headquarters of the Yugoslav People's Army (JNA) stood until 1999, destroyed by NATO during the air campaign against Serbian atrocities in Kosovo.

More than 26,000 people have signed an online petition to protect two buildings that are part of a designated cultural heritage site.

Comment