The Trump Organization has announced a significant expansion of its international real estate portfolio with two new projects in Saudi Arabia. This development comes shortly before President-elect Donald Trump’s anticipated return to the White House.
In a recent statement, the Trump Organization confirmed the leasing of its brand to two new real estate projects in Riyadh, Saudi Arabia. The projects are part of a collaboration with Dar Global, a London-based luxury real estate developer. While Dar Global will lease the Trump brand, it will retain full ownership and development responsibilities for these ventures.
This partnership extends their already successful collaborations in the region, including a golf resort in Oman. Eric Trump, overseeing the company’s real estate interests, expressed enthusiasm about the new projects, referencing past achievements in Oman, Dubai, and Jeddah as indicators of future success.
The Trump Organization has a history of licensing deals worldwide, with previous engagements in countries such as Canada, Mexico, India, and Turkey. These ventures have taken the form of hotels and residential towers, demonstrating the brand’s extensive reach and influence in the global real estate market.
The company’s decision to continue operations in Saudi Arabia may be viewed in the context of former President Donald Trump’s historical ties with the region. His relationship with the Saudi crown prince, Mohammed bin Salman, has been a point of contention, largely due to criticism following the 2018 killing of journalist Jamal Khashoggi. However, these ties have also contributed to the successful negotiation of partnerships and deals within the Gulf region.
Additionally, Jared Kushner, Trump’s son-in-law and former senior aide, has faced scrutiny over a $2 billion investment from a Saudi sovereign wealth fund into his investment firm post-White House tenure. Kushner played a significant role in the Middle East, notably contributing to the 2020 Abraham Accords between Israel and the United Arab Emirates.
Dar Global, the international division of Saudi developer Dar Al Arkan, currently has a substantial portfolio with $7.5 billion in projects across various countries, including the United Arab Emirates, Oman, Qatar, the United Kingdom, Spain, and Saudi Arabia. This demonstrates the company’s capability and ambition on the world stage.
The recent developments highlight the Trump Organization’s ongoing commitment to expanding its brand through strategic international partnerships, particularly in regions with existing political and economic connections. As the company looks to the future under the leadership of Eric Trump, its focus on luxury real estate and international collaborations appears to remain a central strategy.
Source: Apnews
