Albania’s government has approved a €1.4 billion project by Jared Kushner, Donald Trump’s son-in-law, to transform the country’s largest island, Sazan, into a luxury eco-tourism destination. Kushner’s U.S.-based company, Atlantic Incubation Partners LLC, has been granted strategic investor status, giving it expedited procedures and other benefits for the project.

The “Tourist Resort – Sazan Island” project will span 45 hectares and include:

•A luxury marina with expanded docking and upgraded ferry services

•Elite accommodations, high-standard residences, gastronomy zones, and recreational areas

•1,000 jobs expected to be created during the development and operation phases

Sazan Island, once a communist military outpost, is currently under the Ministry of Defense and retains underground tunnels and bunkers. The Albanian government will work to clear the island of potential unexploded munitions and address environmental concerns before development begins.

The approval, granted by the Strategic Investment Committee led by Prime Minister Edi Rama, allows Kushner’s company a 10-year strategic investor status. The state will participate in the project through a joint legal entity with the Albanian Investment Corporation. The agreement also gives the government the right to revoke the decision or withdraw from the project depending on final negotiations.