By Armin Sijamić
About fifteen days ago, the public in Serbia learned that Jared Kushner, the son-in-law of former US President Donald Trump, plans to invest in Albania and Serbia. The timing of this investment is very indicative, and the construction of a hotel in Belgrade on the site of the destroyed General Staff, the army defeated multiple times in the nineties, is more than symbolic.
Media around the world have been discussing Jared Kushner's announced investment in Belgrade in recent days. The American businessman of Jewish origin, Trump's son-in-law and his advisor during his tenure as President of the United States, is receiving the destroyed building in the center of Belgrade for free for 99 years, which he will convert into a luxury hotel with residential and commercial spaces.
It is not just any building, but the General Staff of the Yugoslav Army, which NATO destroyed in the bombing in 1999. As the public in Serbia marks the 25th anniversary of the start of the NATO intervention these days, which preceded Serbia's withdrawal from Kosovo, news arrives that the Trump family wants to invest in Belgrade.
Vučić with Kushner
The Trump family would thus be given control of the building destroyed by NATO, as a symbol of the final collapse of the army that fought in Slovenia, Croatia, Bosnia and Herzegovina, and Kosovo in the nineties. This kind of new humiliation of the defeated side is amplified by the fact that the building, a declared cultural monument, is located between the buildings of the Serbian Government, the Military Security Agency, the Ministry of Defense, and the Ministry of Foreign Affairs.
And while the public wonders how someone just now decided to lease a building in an attractive location in the capital, Serbian President Aleksandar Vučić is "delighted" by the idea of Kushner starting this business, adding that he is not fully aware of the details.
It is unlikely that Vučić, who sometimes entertains the public with his detailed knowledge of Serbian villages, is unaware of the investment details. The people associated with the announced project are proof that Vučić knew exactly what was going on, meaning that in political terms, he is betting on Trump's victory in the November elections, facing a series of defeats in Kosovo and elsewhere.
A Long-Prepared Deal
Opposition politician Aleksandar Jovanović Ćuta showed the Serbian Government's document to the public on March 13, which shows that the Minister of Construction, Goran Vesić, a member of Vučić's Serbian Progressive Party and former Deputy Mayor of Belgrade, signed a Memorandum of Understanding with Kushner Realty LLS, as well as permission for the aforementioned minister to sign an investment agreement. The Serbian Government and Atlantic Incubation Partners LLC, an affiliated entity of Kushner Realty LLS, are to establish a limited liability company in Serbia, according to Belgrade media.
Two days later, on X, Kushner wrote that he was "excited to share with the public early designs for construction projects planned on the Albanian coast, as well as in downtown Belgrade." He told The New York Times (NYT) that the contract had not been signed, that negotiations had progressed, and that he hoped the deal would be concluded, denying that he had received special treatment as the former president's son-in-law. NYT reported on March 18 that the investment amounts to $500 million and that the investor will give Serbia 22 percent of the profit.
How the Belgrade authorities will legally implement this decision remains a dilemma, at least for a part of the public that refers to various legal regulations that could prevent this deal. The aforementioned Jovanović has no doubts – the deal is a gift of the building to American companies.
The Ever-Present Grenell
Whether it is a gift or an investment in his political future will depend on the results of the US presidential elections in November. Vučić is waiting for November, hoping that Trump will win, thus once again welcoming the end of administrations with which he enters into various arrangements. After the debacle in Banjska, Vučić has less and less room to maneuver, and the West, especially Washington, has less and less patience for his policies.
It is obvious that Vučić believes he would have the favor of the Trump administration, even though by signing the Washington Agreement at the White House in 2020, he became the subject of ridicule from Maria Zakharova, spokesperson for the Russian Ministry of Foreign Affairs.
Let us recall that Vučić, among other things, committed Serbia at the time to building a highway towards Pristina, establishing air and rail links between Belgrade and the capital of Kosovo, suspending activities on the withdrawal of recognition of Kosovo, joining Kosovo to the "Mini-Schengen zone" with three countries (Serbia, Albania, and North Macedonia), banning the use of 5G equipment from unreliable suppliers (read China), working on the decriminalization of homosexuality worldwide, designating Lebanese Hezbollah (its political and military wing) as a terrorist organization, and Israel recognized Kosovo's independence.
Grenell and Vučić
That agreement was signed under the auspices of the US Ambassador to Germany and Trump's special envoy for the dialogue between Serbia and Kosovo, Richard Grenell. NYT writes that Grenell was the link between Kushner and Belgrade, and that this businessman with close ties to Israeli Prime Minister Benjamin Netanyahu wanted to invest in the Balkans even during Trump's rule. Kushner said that Grenell encouraged him to invest in the project.
With Trump's departure from the White House, Kushner continued his business, and Grenell did not leave the Balkans. All these years, Grenell has firmly sided with Vučić, condemning the Kosovo authorities and Prime Minister Albin Kurti. Serbian media have written about his personal connections with Serbian Prime Minister Ana Brnabić, Minister of Finance Siniša Mali, Serbian Ambassador to Washington Marko Đurić, and other Vučić cadres.
Conflict of Interest and Conflict of Policies
NYT writes that the launch of the project, if Trump becomes president, would be a conflict of interest, as Belgrade would gain leverage over members of the presidential family. The attempt to influence Trump is undoubtedly Belgrade's plan, which is increasingly in conflict with the administration of Joseph Biden, especially when it comes to Kosovo. Some claim that Grenell could be Trump's Secretary of State.
American media claim that Grenell was involved in the Kosovo issue and that he had a favorite there in Hashim Thaçi, a major rival of Kurti. In this context, attention should be paid to internal Albanian differences and the claims of former Albanian President and Prime Minister Sali Berisha that Vučić and the current Albanian Prime Minister Edi Rama worked on the partition of Kosovo and that they were stopped by then-German Chancellor Angela Merkel.
Although the sale plan is encountering resistance in Serbia, and likely displeases many in the United States, Vučić will not give up on it easily, as it potentially opens new options for him.
The possibility of Trump's return to the White House, Vučić's close ties with Rama, and the growing panic in Europe amid the advance of Russian forces in Ukraine could open just enough space for Balkan nationalists to cause new chaos and move the region away from the West. If nothing else, at least some long-time Balkan leaders desire that.
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