Article Summary –
Jared Kushner’s company, Affinity Partners, has been approved by the Serbian government to build a luxury hotel on the former site of the defense ministry in Belgrade. The $500 million project, partnered with Richard Grenell and backed by the Saudi Arabian sovereign wealth fund, will include a hotel, retail space, and over 1,500 residential units, along with a proposed museum and memorial complex. However, the contract has been criticized by Serbian opposition leaders and drew protests, with some objecting to the U.S.’s previous involvement in bombing the site in 1999.
Serbian Government Approves Luxury Hotel Venture with Jared Kushner
The Serbian government has sanctioned a contract with Jared Kushner for a luxury hotel on the site of the former defense ministry in Belgrade. The $500 million project, which positions Kushner in direct business with a European state, is pursued in partnership with Richard Grenell, a former Trump administration aide.
The project, part of Kushner’s Affinity Partners, spurred protests in Belgrade. It’s financially supported by a $3 billion investment fund backed by Saudi Arabia’s sovereign wealth fund. The Serbian government has selected a credible American company for this venture to revitalize the former Federal Secretariat for National Defense complex, a Serbian official announced.
Potential for Economic Progress in Serbia
The complex, bombed in 1999 by NATO forces with US backing during the Serbia-Kosovo war, is now a prime real estate site. Kushner, who is also planning two luxury hotel projects in Albania, stated that Serbia’s economic progress over the past decade has been impressive, and this development will further elevate the status of Belgrade on the international stage.
The approved plan proposes a hotel, retail space, over 1,500 residential units, a museum, and a memorial complex for those affected during the NATO bombings. Kushner’s company affirmed that the memorial will be designed in collaboration with Serbian architects and managed by the government.
Political Controversy and Public Protests
The Serbian government will retain site ownership with the investor group, Affinity Global Development, having a set period to complete the project. However, the approval has provoked criticism from Serbian opposition leaders and provoked public protests.
Signs from protesters read, “Stop Giving Army HQ as a Present to American Offshore Companies.” Some in Serbia oppose the plan due to the US role in the bombing 25 years ago.
Scrutiny from House Democrats
House Democrats have also drawn attention to the project. They requested Republicans on the House Oversight and Accountability Committee to investigate the proposed deals. Kushner defended the project, asserting that as a private citizen, he has the right to pursue international real-estate and business deals, even with foreign governments.
Kushner stated that firms appreciate Affinity as an investor because it is a mark of kosher. He emphasized that the firm operates very professionally and is highly scrutinized.
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