The Strategic Investment Committee granted strategic investor status to the company affiliated with Jared Kushner for the construction of a tourist resort on Sazan Island.
The decision was made on December 30, accepting the proposal of the company "Atlantic Incubation Partners LLC", where, according to the decision, an investment of 1.4 billion euros is foreseen on the island and construction is expected to extend to 8 percent of the island or 45 hectares.
"The investment value of the tourist project "Tourist Resort - Sazan Island" meets the criteria provided by the legislation for strategic investments and is expected to be 1.4 billion Euros," the decision states.
Plans for the construction of a luxury tourist resort in Sazan and another in Zvërnec by Kushner and his associated companies were made public at the beginning of the year.
The projects are financed by Kushner's investment company "Affinity Partners", which is backed by funds from the Saudi Arabian government.
The decision emphasizes that the status is granted for a period of 10 years and that construction is expected to be divided into three phases, reports tch.
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