A deal has been struck by an investment group led by Jared Kushner, son-in-law to former US President Donald Trump, to construct a $500 million luxury hotel in Serbia on the grounds of a military complex bombed by NATO in 1999.
As per Times Of India, the Serbian government finalized a 99-year lease agreement on Wednesday with Affinity Global Development, a Kushner-affiliated investment firm supported by Saudi Arabia's sovereign wealth fund.
In collaboration with Richard Grenell, former acting director of national intelligence during the Trump administration, Kushner intends to transform the severely damaged former Yugoslav army headquarters into a luxury hotel.
Meanwhile, Grenell, who previously served as the US ambassador to Germany and as a special envoy to the Balkans in 2019, initially proposed that US investors rehabilitate the bombed-out army complex.
While, Kushner, who also has luxury hotel projects underway in neighbouring Albania, expressed his belief that the redevelopment will "further elevate Belgrade into the premier international destination it is becoming."
However, the Serbian project will include apartments, retail space, and a memorial honoring those who lost their lives during NATO's bombing campaign.
Moreover, the deal includes renovating three city blocks and splitting profits with the Serbian government.
The government will keep ownership of the land and can cancel the lease if the construction isn't finished on time.
