Albania has announced Donald Trump's son-in-law as a strategic investor. But what does Jared Kushner want from the poor Adriatic country and Sazan Island, which was once a secret military base of the former communist state?
Sazan Island, with an area of about 562 hectares, to which day trips from Vlora are organized for 42 euros, offers no major attractions. Some even call it a “tourist trap”. But Jared Kushner, son-in-law of US President Donald Trump, has his eye on it because he is also interested in real estate in the Balkans, writes Andreas Mim in the “Frankfurter Allgemeine Zeitung“ (FAZ). Kushner wants to build a luxury complex with a marina on 45 hectares. There is talk of investments of 1.4 billion euros.
Private nature
The Albanian government is enthusiastic, the German publication commented. Prime Minister Edi Rama already imagines the “pearl in the crown“ of Mediterranean tourism and has given the Kushner-led investment group “Affinity Partners“ the status of “strategic investor“. FACS recalls that Kushner visited the area in 2023 with his wife Ivanka Trump, after which he described the coast as "one of the most pristine and unique in the world". But the application submitted afterwards for the construction of two luxury complexes on the island was rejected by Albania on the grounds that it was "not in sync with the vision of ecological tourism".
However, on December 30, 2024, Kushner received the status of "strategic investor". It is striking that this happened seven weeks after the election of his father-in-law as US president and three weeks before Trump's inauguration. Therefore, in Albania they believe that Edi Rama, who is a rather left-wing politician, wanted to make a good impression on Trump, FACS writes. But Kushner's project also fits into Albania's tourism strategy, the German publication notes.
A huge influx of tourists
In recent years, the country, which has 2.4 million inhabitants, has been literally flooded with tourists. In 2023, their number exceeded ten million for the first time, and in 2024, they were that much as early as October. This is a stimulus for the service sector and construction, which, together with the tourism boom, are a major contributor to the expected growth of four percent for 2024. However, a consequence of the large influx of tourists in Albania is the ongoing depreciation of the local currency, which is hindering Albanian exporters from industry and agriculture.
And while experts warn of the harm of excessive tourism and overdevelopment of the coast, the government is betting primarily on higher revenues from guests in luxury complexes - such as the one planned by Jared Kushner. He is not the only major international investor (with a fortune of $3.1 billion, two-thirds of which comes from Saudi Arabian sources). Two years ago, the Albanian government signed a public-private partnership for over two billion euros with an investor from the UAE - to transform the old commercial port of Durres into a yacht marina with luxury apartments, hotels, restaurants and cafes. The Albanian state is participating in the project with one-third of the capital.
And Kushner's interests in the Balkans do not end with Albania - he wants to build a complex of apartments, hotels and conference halls in Belgrade on the territory of the former headquarters of the General Staff of the Yugoslav Army, says FACS. And there he is also welcomed with open arms.
The former military zone will be built up
The island of Sazan was once the most secret military base of communist Albania. It was called the “guard” of the Adriatic Sea. Numerous bunkers and tunnels were built in this place in the wild nature. However, in 2024, the government initiated legal changes that abolished the existence of the former military zone and released it for construction. And just weeks later, the strategic investor for this was found. It is expected that he will provide work for up to 1,000 people in the construction and maintenance of the complex. But environmentalists are not particularly impressed by this.
The international environmental organization Euro Natur points out that “the island is a national and international nature reserve“. There are also concerns about “dramatic ecological consequences for the region“.