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Kushner Exit From Serbia Project Raises Investment Concerns, Says Ruling Party

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Serbia risks losing vital foreign investment following the decision by Jared Kushner’s firm, Affinity Global Development, to withdraw from a major luxury real estate project in Belgrade, according to an official from the country’s ruling party. Milos Vucevic, head of the Serbian Progressive Party (SNS), warned that the move sends a negative signal to international investors and could benefit other Balkan nations instead.

Affinity Global Development had planned to build a large-scale complex including a hotel, apartments, offices and retail spaces on the site of the former Yugoslav army headquarters in central Belgrade, under a 99-year lease agreement signed last year. However, the project faced strong public opposition, with critics arguing the site should be preserved as a memorial for victims of the 1999 NATO bombing. The plans also became entangled in a corruption investigation linked to the removal of the buildings’ protected status.

Vucevic said protests and political pressure ultimately discouraged investors, claiming the withdrawal reflects poorly on Serbia’s investment climate. He added that Kushner is instead pursuing a separate development project in Albania. Serbian prosecutors last week indicted three officials, including a minister, over alleged illegal actions that enabled the project to move forward. Affinity Global Development has not commented, and there is no indication of wrongdoing by Kushner or his firm.

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Silvio Berlusconi: Former Italian PM’s eldest children get majority stake

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After much speculation, Silvio Berlusconi’s will has been revealed, showing that he has bequeathed a majority stake in the family’s holding company Fininvest to his two eldest children, Marina and Pier Silvio. They will jointly own 53% of the family firm. Berlusconi, who passed away on June 12, was one of Italy’s wealthiest individuals, with a vast empire spanning real estate, television, cinema, and sports. His will also revealed that Marina and Pier Silvio, his children from his first marriage, will receive larger shares compared to his three other children from his second wife. The two eldest children have been involved in managing the family business since the early 1990s and have stated that no single shareholder will have overall individual indirect control of Fininvest.

In addition to his children, Berlusconi allocated €100 million to Marta Fascina, his partner at the time of his death. Although they were not married, Berlusconi referred to her as his wife on his deathbed. He left €100 million to his brother Paolo and €30 million to his close aide Marcello Dell’Utri. The distribution of Berlusconi’s other valuable assets, such as luxurious villas, has not been clarified yet and may present challenges in dividing them equally among his offspring. These properties include Villa San Martino in Arcore, a historic mansion covering 3,500 square meters, as well as homes in various locations such as Lake Maggiore, Rome, Cannes, and the Caribbean.

Among his properties, Villa Certosa in Sardinia stands out as a prestigious asset. Berlusconi purchased the mansion in the 1970s and hosted world leaders there, including Vladimir Putin and George W. Bush. The mansion, with 126 rooms and elaborate features like a fake erupting volcano, is estimated to be worth €259 million.

Silvio Berlusconi was a highly influential figure in Italy’s history, leaving a lasting impact on politics, media, football, and society. His will included a handwritten letter expressing his gratitude and love for his children. However, the question remains whether the family unity he maintained during his lifetime will persist after his passing and how that might affect the future of his business empire.

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