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It
will partner with Dar Global, a London-based luxury real estate
developer that will lease the Trump brand but fully own and
develop the projects in the Saudi capital, Riyadh. The two have
partnered on other projects in the region, including the
development of a golf resort in neighboring Oman.
“Following the remarkable success of Trump International Oman,
as well as our most recent ventures in Dubai and Jeddah, we are
thrilled to announce two additional projects in Riyadh,” Eric
Trump, the president-elect’s son who oversees the company's real
estate interests, said in a statement.
Trump’s company struck many real estate licensing deals overseas
before he entered the White House in 2017, including for hotels
and residential towers in Canada, Dubai, Mexico, India and
Turkey.
Trump’s close ties to Saudi Arabia’s crown prince and day-to-day
ruler, Mohammed bin Salman, drew heavy criticism after the 2018
killing of Jamal Khashoggi, a Saudi columnist for the Washington
Post who had written critically about the monarchy.
Trump’s son-in-law and former senior aide, Jared Kushner, has
also drawn scrutiny from Democrats for a reported $2 billion
investment from a Saudi sovereign wealth fund for his investment
fund, which he started after he left the White House. Kushner
had served as Trump's point man for the Middle East and helped
broker the 2020 Abraham Accords between Israel and the United
Arab Emirates.
Dar Global is the international arm of Dar Al Arkan, a large
Saudi developer. It says it has $7.5 billion worth of projects
under development in the United Arab Emirates, Oman, Qatar, the
United Kingdom, Spain and Saudi Arabia.
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