Mohamed Alabbar, founder of Emaar, and Jared Kushner, son-in-law of the next formally elected US President Donald Trump, have teamed up to develop a new project together in Serbia.

The pair are to develop “Trump Tower”, a luxury hotel and apartment complex, on the site of the former Yugoslav Ministry of Defence.

The development will feature 175 hotel rooms and 1,500 residences. Kushner’s company Affinity has taken a 99-year lease on the site. Alabbar will use his privately owned property company Eagle Hills for the project, with the pair creating a new company Atlantic Eagle Hills Partners.

In a statement to Bloomberg, Alabbar said, “We are dedicated to delivering a project that reflects the city’s dynamic spirit and cultural hertitage.

The “Trump” name has been licensed from the Trump Organization for the project.

Related: Emaar Founder Mohamed Alabbar Shares “Why I Let Go of My Marketing Team”