Trump Inks Licensing Deal For $1.6 Billion Saudi Actual Estate Advancement
Christine Blau
2 min read
The Trump Organization signed an agreement to license its brand to a housing and golf complex established to be built in Oman by a Saudi Arabian developer, according to the New York Instances.
The $1.6 billion challenge, identified as Aida, will be formulated by Dar Al Arkan. In addition to the golf program, the enhancement will consist of an estimated 3,500 household models, 450 hotel rooms and luxurious places. The money phrases of the deal with the Middle East developer were being not disclosed.
Dar Al Arkan is very well known for its numerous luxurious developments, this kind of as the 384-unit W Residences Downtown in Dubai and Le Vagues by Elie Saab in Qatar. The developer also just lately completed the world’s tallest 3D-printed making – a three-story villa in Shams Al Riyadh, northwest of Riyadh, Saudi Arabia.
The licensing offer is the to start with international advertising agreement the Trump Corporation has negotiated considering the fact that the finish of Donald Trump’s presidential term.
Related licensing specials were being a major supply of income for the Trump Business before Trump’s presidency, but the household agreed not to indicator any new worldwide specials even though Trump was in office environment.
Information of Trump’s newest offer arrived just a single working day ahead of he introduced his 2024 presidential bid and will likely stir up considerations around a conflict in between his organization and political pursuits.
“The Trump corruption complex is back in organization,” Robert Weissman, president of General public Citizen, informed the Occasions concerning the company’s offer for the Oman house.
The Trump family’s small business ties to the Saudi Arabian authorities have previously been a supply of controversy, these kinds of as when Trump licensed billions of pounds in weapon sales to the country throughout his presidency and when he defended the murder of Jamal Khashoggi.
Extra just lately, Trump’s son-in-law, Jared Kushner, received a $2 billion expense from a fund run by crown prince Mohammed bin Salman just months after Trump remaining the White House.
What are your thoughts on the timing of this licensing offer and how it will have an impact on Trump’s campaign? Be part of the dialogue in the Benzinga Group.
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