Will Lukashenko's offensive behavior affect the fortunes of Serbian brothers formerly close to Milosevic?

A new large-scale project to build residential and commercial facilities on the site of a former airfield has opened in Minsk. The Minsk World project will become a trendy financial center with skyscrapers with glass facades surrounded by high-rise residential buildings and villas that will house 30,000 residential units.

The company developing the site, Dana Holdings, calls it a "city within a city" and one of the largest real estate projects in Europe. Minsk World is one of several projects in Belarus entrusted to Cyprus-based Dana Holdings, which was founded by the Karic family from Serbia.

The Karic family were one of the wealthiest and most influential families in Serbia in the 1990s under the rule of Slobodan Milosevic, but after the''s ouster, they lost their position in Belgrade. Over the past decades, Karici have taken a leading position in the Belarusian real estate industry and made huge profits due to their close ties to leader Alexander Lukashenko.

The Karichis face sanctions from the US and the EU following protests related to the 2020 elections.

While the company's appeal is pending, it has put on hold projects in which it has invested in Europe. Karici has already left Belarus, although in practice they remain''linked to Lukashenka.