Alabbar has reached a preliminary agreement to sell his interests in a property development project
- The Emirati real estate developer behind Dubai's signature skyscraper, the Burj Khalifa, has initiated the sale of property assets he owns in Belarus, a country targeted by Western sanctions, according to two people familiar with the matter, as he collaborates with Jared Kushner on a possible investment in Serbia.
The Emirati developer's departure from Belarus comes amid a new collaboration with Kushner, the son-in-law of former US President Donald Trump, to redevelop a former Yugoslav army headquarters building in Serbia into a residential complex.Contacted by Reuters, Alabbar declined to answer questions about the identity of the prospective buyer nor discuss the reasons for the decision to sell the Minsk assets.
Kushner told Reuters last month he was in talks over investing in Belgrade, the capital of Serbia, to transform the army building, but said the deal was in negotiations and might not happen. Reuters could not determine who has proposed to buy Alabbar's interests in the Minsk development, known as North Waterfront, nor the terms of the preliminary deal.
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