United Arab Emirates, DUBAI (AP)Only a few weeks before President-elect Donald Trump returns to the White House, the Trump Organization said Monday that it has leased its brand to two new real estate projects in Saudi Arabia.
It will collaborate with London-based luxury real estate developer Dar Global, which will fully own and build the projects in Riyadh, the capital of Saudi Arabia, while leasing the Trump brand. The two have collaborated on other regional initiatives, such as the construction of a golf resort in nearby Oman.
Eric Trump, the president-elect’s son who manages the company’s real estate holdings, said in a statement, “We are excited to announce two additional projects in Riyadh, following the remarkable success of Trump International Oman, as well as our most recent ventures in Dubai and Jeddah.”
Before he took office in 2017, Trump’s company secured several real estate licensing agreements abroad, including for hotels and residential complexes in Canada, Dubai, Mexico, India, and Turkey.
Trump’s strong relationship with Mohammed bin Salman, the crown prince and day ruler of Saudi Arabia, came under intense fire following the 2018 murder of Jamal Khashoggi, a Saudi journalist for the Washington Post who had published critical articles about the monarchy.
FILE- President Donald Trump shakes hands with Saudi Deputy Crown Prince and Defense Minister Mohammed bin Salman during a bilateral meeting, in Riyadh, Saturday, May 20, 2017. (AP Photo/Evan Vucci, File)
Image: Evan Vucci/Associated Press
Democrats have also criticized Trump’s son-in-law and former top adviser, Jared Kushner, for reportedly receiving a $2 billion investment for his investment vehicle—which he established after leaving the White House—from a Saudi sovereign wealth fund. As Trump’s Middle East spokesman, Kushner assisted in mediating the 2020 Abraham Accords between Israel and the United Arab Emirates.
The international division of the major Saudi developer Dar Al Arkan is called Dar Global. It claims to be working on projects worth $7.5 billion in Saudi Arabia, the United Kingdom, Oman, Qatar, and the United Arab Emirates.
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