Trump Organization leases its brand to 2 new projects in Saudi Arabia
DUBAI, United Arab Emirates — DUBAI, United Arab Emirates (AP) — The Trump Organization said Monday it has leased its brand to two new real estate projects in Saudi Arabia just weeks before President-elect Donald Trump returns to the White House.
It will partner with Dar Global, a London-based luxury real estate developer, which will lease the Trump brand but will fully own and develop the projects in the Saudi capital, Riyadh. The two men have teamed up on other projects in the region, including the development of a golf resort in neighboring Oman.
“Following the remarkable success of Trump International Oman, as well as our most recent projects in Dubai and Jeddah, we are delighted to announce two additional projects in Riyadh,” said Eric Trump, the president-elect’s son who oversees the interests real estate of the company. said in a statement.
Trump’s company closed numerous foreign real estate licensing deals before entering the White House in 2017, including for hotels and residential towers in Canada, Dubai, Mexico, India and Turkey.
Trump’s close ties to Saudi Arabia’s crown prince and day-to-day ruler, Mohammed bin Salman, drew sharp criticism after the 2018 assassination of Donald Trump. Jamal Khashoggia Saudi columnist for the Washington Post who wrote critiques of the monarchy.
Trump’s son-in-law and former senior adviser, Jared Kushner, also attracted Democratic attention for a $2 billion investment from a Saudi sovereign wealth fund for his investment fund, which he launched after leaving the White House. Kushner had been Trump’s point man for the Middle East and helped negotiate the 2020 Abraham Accords between Israel and the United Arab Emirates.
Dar Global is the international arm of Dar Al Arkan, a major Saudi developer. It claims to have projects under development worth $7.5 billion in the UAE, Oman, Qatar, the UK, Spain and Saudi Arabia.
