The Trump Organization is partnering with Saudi Arabia’s luxury real estate giant Dar Global to develop Trump-branded properties in Dubai and Oman.
The two projects are the latest undertakings for the company of former U.S. President Donald Trump, the Republican candidate in November’s election.
Dar Global, the international arm of London Stock Exchange-listed Saudi Arabian real estate giant Dar Al Arkan, has signed a deal to name a $4 billion property after Trump in 2022. Development in OmanA Middle Eastern country that borders the United Arab Emirates, Yemen, and Saudi Arabia.
The mega-project in Oman will include a golf course, hotel and luxury villas. It is due to be completed by 2028. press release.
During his presidency, Trump maintained close ties with Gulf states, including Saudi Arabia, which invested $2 billion in Jared Kushner’s company after Trump left office. Kushner, Trump’s son-in-law, served as a senior adviser during the Trump administration.
The United Arab Emirates has established itself as a key security partner of the United States.
Dubai, in particular, has become a hub for international investment due to its rapid reopening following the COVID-19 pandemic, significant infrastructure investment, favorable tax regime and relaxed social security and visa regulations.
These factors have led to a booming real estate market, attracting a diverse range of investors from many countries.
The Dubai Trump Tower will join other high-profile projects such as developer Bingatti’s $1 billion Mercedes-Benz Tower, due for completion in 2026, and will be the pinnacle of ultra-luxury branded buildings in the UAE.
Dar Global has announced that Trump Tower Dubai is scheduled to open next year.
Financial details of the deal were not disclosed, but the development would include a Trump hotel and branded residential units. The Trump Organization will not own or sell the property, and the Trump name will be used under a licensing agreement.
Further adding to the expansion of the Trump empire, Dar Global also revealed plans earlier this month to build a Trump Tower in Jeddah, Saudi Arabia.
