Emirati Developer Selling Belarus Assets, Eyes Investment in Serbia
Emirati Developer Mohamed Alabbar’s Property Sale in Belarus
The Emirati real estate developer known for Dubai’s iconic Burj Khalifa is reportedly selling his property assets in Belarus, a country under Western sanctions. In a recent development, sources reveal that Mohamed Alabbar is in talks to divest his interests in a major property project in Minsk, the capital city of Belarus, through his investment entity, Symphony Global Holdings.
Collaboration with Kushner for Investment in Serbia
Alabbar’s decision to exit Belarus coincides with a new partnership with Jared Kushner, son-in-law of former U.S. President Donald Trump. Together, they are exploring opportunities to revamp a former Yugoslav army headquarters in Serbia into a residential complex.
Unreported Collaboration between Alabbar and Kushner
The alliance between Alabbar and Kushner has not been publicly disclosed. When approached for comments, Alabbar refrained from revealing the buyer’s identity for his Minsk assets or the rationale behind the sale. On the subject of the Serbia venture, Alabbar expressed enthusiasm for upscale developments in the market.
Plans for Serbia Investment
Kushner confirmed discussions about investing in Belgrade but cautioned that the deal was still in the negotiation phase. While Alabbar is serving as an advisor for the Serbia project, it remains uncertain if he will also invest in it. Details about Alabbar’s activities in Belarus remain undisclosed.
Political Considerations in Belarus
Despite not being in direct conflict with Kyiv, Belarus has faced repercussions for assisting Russia in its conflict with Ukraine. The U.S. imposed sanctions on Belarus, restricting business dealings with President Alexander Lukashenko and his associates.
Lukashenko’s Involvement in North Waterfront Project
Lukashenko played a role in kickstarting the North Waterfront project, endorsing the creation of a large residential complex in northern Minsk. A spokesperson for Lukashenko expressed surprise at Alabbar’s sale agreement.
Kushner’s Serbia Venture and Political Connections
Kushner’s plans to invest in Serbia became public knowledge after documents revealed ongoing discussions with Serbian authorities. While speculation arose about Kushner capitalizing on his White House connections for the Belgrade project, he dismissed any special treatment.
