The Berlin skyline. The government is trying the curb rising rents following a property boom since 2011. DPA
The Berlin skyline. The government is trying the curb rising rents following a property boom since 2011. DPA

Descendants of German prince renew fight for seized land on Operation Valkyrie's 75th anniversary



Prince Friedrich zu Solms-Baruth III slept with two Luger pistols as he colluded to kill Adolf Hitler near the end of World War II.

Riding on horseback into the woods of his 17,000-hectare estate in eastern Germany, the anti-Nazi aristocrat hosted secret meetings to discuss the assassination plot, which was code-named Operation Valkyrie.

The plan failed, with the German dictator walking away with only a burst eardrum and shredded clothes from the blast of a bomb that one of the conspirators had placed in a briefcase beneath an oak conference table. Though spared a death sentence, Solms-Baruth was imprisoned, tortured and eventually lost control of the land his family had owned for centuries.

Today, on the eve of Operation Valkyrie’s 75th anniversary, the timing of that land transfer has become the focus of a two-decade legal battle between the German government and Solms-Baruth’s descendants as they seek to reclaim the property. His namesake grandson has new evidence -- a chemical analysis of ink on paperwork related to the estate -- that he claims is proof the Nazi regime forced Solms-Baruth to sign over the land.

“I was brought up as a child with the aim and instruction by my father this litigation is what we should do if Germany ever reunified,” said the fifth and current Friedrich zu Solms-Baruth, 55. “He never thought he would ever see the day, and when he did he started litigation right away.”

While confiscations by the Nazis were generally overturned after 1989, the German unification treaty holds that seizures during the period immediately after the war remain unaffected. Solms-Baruth V claims the ink used on instructions to destroy any paperwork relating to his family’s estate predates that period.

A spokeswoman for the Federal Administrative Court in Leipzig, which is hearing the case, declined to comment on pending litigation, while the finance ministry didn’t immediately return an email seeking comment.

The case underscores how Germany is still grappling with the fallout from the rise of Hitler, whose downfall led to the country’s postwar split and the creation of East Germany. Since the end of the war, the state has paid out more than 2 billion euros (Dh8.3bn) to Nazi victims who lost property in former East Germany, government data show, and that may climb if others follow the lead of the Mr Solms-Baruths.

“The figures could be astronomical,” Mr Solms-Baruth V said. “By now, it’s become much larger than vindicating my grandfather and not letting them get away with it in the case of our family.”

Aristocratic dynasties like the Solms-Baruths can pass down the titles they held in Germany’s monarchic age. Prince Friedrich V traces his clan’s origins back more than 500 years and counts the UK’s Duke of Edinburgh -- the husband of Queen Elizabeth II -- among his distant relations.

The Solms-Baruths aren’t the only German family probing for answers about their ancestors during the Nazi era. This year, the billionaire Reimann family -- whose JAB Holding owns Keurig Dr Pepper, Panera Bread and Krispy Kreme Doughnuts -- revealed that they have asked a historian to research the clan’s ties to the regime. A report on the findings is expected next year.

Germany faced a surge of claims for lost real estate after its reunification in 1990. Before then, only West Germany had laws allowing the return of property seized by the Nazis.

Four years after the Solms-Baruths started their litigation, they reached a partial settlement that excluded properties on the estate owned by local governments. Funds from that deal helped to pay legal and research costs incurred by Mr Solms-Baruth V, who took over handling the case after his father’s 2006 death. It now consumes most of his time.

“Human greed” is the simple answer as to why the Nazis seized property, said German attorney Stephan Glantz, who represented local governments and families, including his own, in cases on East German property rights. “The confiscated assets somehow went to people who were friends of Nazi leaders,” he said, speaking generally. “They stole and gave to friends and allies to keep them good.”

Released from prison in the closing months of World War II, Solms-Baruth III stayed in Germany with the hope of convincing Russian forces of his anti-Nazi ideology. Yet he shortly learned of plans to arrest him at a town hall meeting with a Russian general, prompting him to flee the building through a restroom window.

He then led his family to a farm in former German colony Namibia, one of his few remaining assets, accompanied by his chauffeur and valet. En route, the Solms-Baruths stopped in Denmark to stay with a relative who had married the brother of the country’s king. They later traveled to Stockholm as guests of Swedish gentry until they could finally board a ship to Africa.

Solms-Baruth III died in 1951. His son eventually made a living farming animals for hunting -- a far different subsistence from the timber companies in the family’s former estate almost 8,000 miles away. Mr Solms-Baruth V grew up expecting to become a farmer, too. Yet now he and his family have a chance to reclaim what they see as stolen property, and he doesn’t plan to give up the fight.

“There is too much at stake from a moral point of view,” he said. “Once you go in this direction, you don’t turn back.”

THE SPECS

Engine: 6.75-litre twin-turbocharged V12 petrol engine 

Power: 420kW

Torque: 780Nm

Transmission: 8-speed automatic

Price: From Dh1,350,000

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THE BIO

Favourite book: ‘Purpose Driven Life’ by Rick Warren

Favourite travel destination: Switzerland

Hobbies: Travelling and following motivational speeches and speakers

Favourite place in UAE: Dubai Museum

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

PROFILE OF HALAN

Started: November 2017

Founders: Mounir Nakhla, Ahmed Mohsen and Mohamed Aboulnaga

Based: Cairo, Egypt

Sector: transport and logistics

Size: 150 employees

Investment: approximately $8 million

Investors include: Singapore’s Battery Road Digital Holdings, Egypt’s Algebra Ventures, Uber co-founder and former CTO Oscar Salazar

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

The National's picks

4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young

A MINECRAFT MOVIE

Director: Jared Hess

Starring: Jack Black, Jennifer Coolidge, Jason Momoa

Rating: 3/5

LA LIGA FIXTURES

Saturday  (UAE kick-off times)

Leganes v Getafe (12am)​​​​​​​​​​​​​​

Levante v Alaves (4pm)

Real Madrid v Sevilla (7pm)

Osasuna v Valladolid (9.30pm)

Sunday

Eibar v Atletico Madrid (12am)

Mallorca v Valencia (3pm)

Real Betis v Real Sociedad (5pm)

Villarreal v Espanyol (7pm)

Athletic Bilbao v Celta Vigo (9.30pm)

Monday

Barcelona v Granada (12am)

THE BIO: Martin Van Almsick

Hometown: Cologne, Germany

Family: Wife Hanan Ahmed and their three children, Marrah (23), Tibijan (19), Amon (13)

Favourite dessert: Umm Ali with dark camel milk chocolate flakes

Favourite hobby: Football

Breakfast routine: a tall glass of camel milk

THE NEW BATCH'S FOCUS SECTORS

AiFlux – renewables, oil and gas

DevisionX – manufacturing

Event Gates – security and manufacturing

Farmdar – agriculture

Farmin – smart cities

Greener Crop – agriculture

Ipera.ai – space digitisation

Lune Technologies – fibre-optics

Monak – delivery

NutzenTech – environment

Nybl – machine learning

Occicor – shelf management

Olymon Solutions – smart automation

Pivony – user-generated data

PowerDev – energy big data

Sav – finance

Searover – renewables

Swftbox – delivery

Trade Capital Partners – FinTech

Valorafutbol – sports and entertainment

Workfam – employee engagement

England v South Africa schedule:

  • First Test: At Lord's, England won by 219 runs
  • Second Test: July 14-18, Trent Bridge, Nottingham, 2pm
  • Third Test: The Oval, London, July 27-31, 2pm
  • Fourth Test: Old Trafford, Manchester, August 4-8
COMPANY PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 
What is a Ponzi scheme?

A fraudulent investment operation where the scammer provides fake reports and generates returns for old investors through money paid by new investors, rather than through ligitimate business activities.

Our legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants

The specs
Engine: 4.0-litre flat-six
Power: 510hp at 9,000rpm
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
Price: From Dh801,800
THE BIO

Born: Mukalla, Yemen, 1979

Education: UAE University, Al Ain

Family: Married with two daughters: Asayel, 7, and Sara, 6

Favourite piece of music: Horse Dance by Naseer Shamma

Favourite book: Science and geology

Favourite place to travel to: Washington DC

Best advice you’ve ever been given: If you have a dream, you have to believe it, then you will see it.

FIGHT%20CARD
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High profile Al Shabab attacks
  • 2010: A restaurant attack in Kampala Uganda kills 74 people watching a Fifa World Cup final football match.
  • 2013: The Westgate shopping mall attack, 62 civilians, five Kenyan soldiers and four gunmen are killed.
  • 2014: A series of bombings and shootings across Kenya sees scores of civilians killed.
  • 2015: Four gunmen attack Garissa University College in northeastern Kenya and take over 700 students hostage, killing those who identified as Christian; 148 die and 79 more are injured.
  • 2016: An attack on a Kenyan military base in El Adde Somalia kills 180 soldiers.
  • 2017: A suicide truck bombing outside the Safari Hotel in Mogadishu kills 587 people and destroys several city blocks, making it the deadliest attack by the group and the worst in Somalia’s history.
Abramovich London

A Kensington Palace Gardens house with 15 bedrooms is valued at more than £150 million.

A three-storey penthouse at Chelsea Waterfront bought for £22 million.

Steel company Evraz drops more than 10 per cent in trading after UK officials said it was potentially supplying the Russian military.

Sale of Chelsea Football Club is now impossible.

From Europe to the Middle East, economic success brings wealth - and lifestyle diseases

A rise in obesity figures and the need for more public spending is a familiar trend in the developing world as western lifestyles are adopted.

One in five deaths around the world is now caused by bad diet, with obesity the fastest growing global risk. A high body mass index is also the top cause of metabolic diseases relating to death and disability in Kuwait,  Qatar and Oman – and second on the list in Bahrain.

In Britain, heart disease, lung cancer and Alzheimer’s remain among the leading causes of death, and people there are spending more time suffering from health problems.

The UK is expected to spend $421.4 billion on healthcare by 2040, up from $239.3 billion in 2014.

And development assistance for health is talking about the financial aid given to governments to support social, environmental development of developing countries.