Trump Organization, Saudi Developer Sign Deal for $4B Omani Project
The Trump Organization, owned by former US President Donald Trump, has signed an agreement with Saudi real estate developer Dar Al Arkan to use the Trump name on a $4 billion project in the Gulf state of Oman, the Aida project, that includes a golf course, hotel and villas. The Trump Organization includes about 500 businesses of which Donald Trump is the sole or principal owner, and about half of which carry the Trump name, Among its businesses, it manages hotels, golf courses and other real estate around the world. The Aida project, a joint venture with Oman Tourism Development Company, will include Trump residential villas, a hotel, and a golf course near Muscat. It is expected to take around 10 years to complete. Trump’s political dealings with the Gulf states while president, and his close business ties, including a $2 billion injection of Saudi funds into his son-in-law Jared Kushner’s investment firm, have led to allegations of corruption and accusations of a conflict of interests. The Trump Organization already owns two golf properties in Dubai in the United Arab Emirates, in partnership with property developer Damac. The former president, defeated by Joe Biden in the 2020 election, announced last week that he would seek the Republican nomination for the US presidency in 2024.