In Trump's wake: Kushner's questionable deals in the Balkans.

One of Jared Kushner's planned projects in the Balkans involves the development of a site in the capital of Serbia, Belgrade, negotiations for which began ten years ago with his father-in-law. Two years before Donald Trump was elected president in 2016, he informed Serbian authorities that he was interested in building a luxury hotel and apartment complex on the site of the former headquarters of the Yugoslav army, the Main Headquarters building, which was destroyed in 1999 during NATO bombings. Although this project failed, Kushner, who held a senior position in the White House during Trump's presidency, reportedly reached a preliminary agreement with the Serbian government to revive the development project.

According to a project agreement obtained by the New York Times, the plan includes the creation of a luxury hotel, residential spaces, shops, and a museum on the site for 99 years without rent. The project, estimated to cost around $500 million, is expected to be funded by Kushner's Miami-based investment firm, Affinity Partners, which he established after leaving the White House. Since Trump's presidency ended, it is estimated that Kushner has received $2 billion from the Saudi Public Investment Fund, while sovereign funds from the United Arab Emirates and Qatar have invested hundreds of millions of dollars in his firm. Neither Affinity Partners nor the Saudi Public Investment Fund responded to DW's request for comment.

Kushner recently stated that the negotiating parties have tentatively agreed to transfer 22% of the profits from the project to the Serbian government. President Aleksandar Vučić and his government assert that Belgrade needs to continue developing and creating business opportunities. Milan Kovačević, an economist and investment consultant, agrees that the city requires new opportunities to adapt to population growth and tourism. "Belgrade definitely needs hotels, including high-end hotels, but they should be positioned in the city and built where they are needed," he told DW. He also warned that an "open market" is necessary for a transparent trading process. Granting exclusive rights to a single investor, in this case Jared Kushner, "creates too much room for corruption and arbitrariness," Kovačević said.

"Serbia is not a buffet, and Vucic is not a waiter." Opposition politicians and experts are surprised by the interest in development plans and even describe it as a scandal that should be prevented. "Serbia is not a buffet, and Vucic is not a waiter. This is not his personal property," said Aleksandar Jovanović Čuta, leader of the Ecological Uprising movement. "The same is happening with our natural resources, rivers, forests, and minerals. Vucic is giving away everything valuable without informing the people about the contracts and the benefits for the citizens of Serbia," he told DW.

Dorde Bobic, who was the chief architect of Belgrade twenty years ago, is outraged by the planned projects. He finds it inappropriate to demolish the former headquarters of the General Staff to build hotels and to "give away the most precious place" in the city to a "foreign power" that bombed Belgrade in 1999, "and only in exchange for political or personal interests."

Kushner's Priority - Albania Recently, Kushner announced on social media that he has "shared early design ideas for developing projects on the Albanian coast." Prime Minister Edi Rama stated that his country is proud to welcome these projects. However, the response from the environmental community has been more reserved. One of the sites in question is located in the Karaburun-Sazan Marine Park on Sazan Island, a former military base.

This area, where several hotels and villas will be built, is part of the Vlore community. A threat to the environment: the Albanian Parliament recently passed an amendment to the country's nature reserve law. The law primarily facilitates economic development in such protected areas, despite warnings from environmental experts. "Law 21/2024 allows for the construction of 5-star mega-resorts in protected areas. Additionally, according to the decision of the National Territorial Council, the construction of virtually any other project is permitted, and there is no longer a red line," said Mirjan Topi, an ecologist from the Agricultural University regarding copyright issues.

“The new changes in the law no longer protect nature and protected areas in Albania,” he added. According to Topi, the amendment to the existing law was altered to facilitate Kushner's investments. “It is very clear that the law was predetermined, as there is no other way to explain the rush of the parliamentary majority to approve it. Before the law was issued by the president, specific projects emerged,” he said.

A treasure for the Albanian economy? On the other side of the spectrum, the business community, especially the tourism sector, sees economic benefits with some reservations. "I believe this is a very good investment, but only if it is truly a tourism investment, if there are villas or accommodations," said Besnik Vati, the director general of the Albanian Tourism and Hospitality Service.

He is concerned that the prospect of building residential villas will only benefit those who invest in it. "After the sale, there is no income for Albanian tourism. [But] investments in hotels or accommodation will continuously generate income for Albania," he told DW. He believes that the local tourism sector and the broader economy will benefit from the creation of local jobs in Sazani and Zvërnec. Vati is worried about the nature of Kushner's investment and who will benefit the most from it. "What I fear the most is a repeat of the situation with key investors who are given land for tourism development, only to find that only 20% of the entire area is used for hotel construction, while the rest goes to apartments or residential villas."

Regardless of whether Kushner's plans for development in Albania and Serbia come to fruition, opposition to them is growing. A group in Serbia has launched a petition against the projects. The Kreni-Promeni (Move-Change) group stated that more than 10,000 people signed the petition in less than 24 hours.