The investment firm "Affinity Partners," founded by Jared Kushner, son-in-law of Donald Trump, and Emirati billionaire Mohamed Alabbar, is set to jointly develop a luxury hotel and residential complex in Belgrade, on the site of the former Yugoslav Ministry of Defense.
According to Bloomberg, Trump had considered a similar idea even before running for the U.S. presidency in 2016.
Kushner reportedly explored several brands before deciding on the "Trump" name.
“We’ve spoken with several brands over the past year about the hotel,” Kushner said in an interview with Bloomberg.
The project in Serbia marks the first joint business venture between Kushner and Alabbar.
Kushner expressed hope that this will be the first of many collaborative projects to come in the future.