The Real Estate Moves of Mohamed Alabbar and Jared Kushner
The Sale of Belarus Property Assets
Reports suggest that Mohamed Alabbar, the Emirati real estate mogul behind Dubai’s iconic Burj Khalifa, is selling his property assets in Belarus, a country under Western sanctions. The sale involves a multi-billion-dollar property development in Minsk, the Belarusian capital, through his investment vehicle Symphony Global Holdings. This decision coincides with his collaboration with Jared Kushner on a potential investment in Serbia.
Collaboration in Serbia
Alabbar’s exit from Belarus aligns with his new venture with Jared Kushner, the son-in-law of former U.S. President Donald Trump, to revamp a former Yugoslav army headquarters in Serbia into a residential complex. This partnership, previously undisclosed, aims to bring high-end development to the Serbian market, although specific details remain undisclosed.
The Future of Investments
Kushner has hinted at discussions to invest in Belgrade, Serbia, emphasizing that negotiations are ongoing and the deal’s finalization is uncertain. Alabbar’s role in the Serbian project is as an advisor, and it is unclear if he will also invest in it. Meanwhile, discussions on the sale of Alabbar’s Belarus interests are underway, with the prospective buyer and terms remaining undisclosed.
Political Landscape
Belarus, though not in direct conflict with Ukraine, has faced U.S. sanctions for supporting Russia’s military actions. President Alexander Lukashenko’s involvement in the North Waterfront project, now subject to Alabbar’s sale, has raised eyebrows. The preliminary sale agreement was surprising news to Lukashenko, indicating potential shifts in Belarusian real estate.
Future Plans in Serbia
Kushner’s potential investment in Serbia, hinted at in March, has gained traction, with Serbian authorities confirming discussions on a real estate partnership with him. Kushner denies any special treatment based on his White House connections, emphasizing the merit of his business endeavors.
