The Trump Organization recently unveiled plans for two new real estate projects in Riyadh, Saudi Arabia, in partnership with Dar Global, a London-based luxury real estate developer. This announcement comes just weeks before former President Donald Trump’s return to the White House.
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Dar Global will license the Trump brand for these projects, but will retain full ownership and development responsibilities. This collaboration builds upon previous successful ventures between the two entities, including the Trump International Golf Club in Oman. This latest deal underscores the Trump Organization’s continued expansion in the Middle Eastern real estate market, despite past controversies and scrutiny surrounding its international business dealings.
Expanding the Trump Brand in Saudi Arabia
Eric Trump, who oversees the Trump Organization’s real estate portfolio, expressed enthusiasm for the new Riyadh projects, citing the success of previous ventures in Oman, Dubai, and Jeddah. The company has a history of leveraging licensing agreements to extend its brand globally, with projects ranging from hotels to residential towers in various countries including Canada, Dubai, Mexico, India, and Turkey. These deals were predominantly established before Donald Trump’s presidency in 2017.
Navigating Past Controversies
The Trump Organization’s close ties to Saudi Arabia have drawn significant criticism, particularly following the 2018 killing of journalist Jamal Khashoggi. Donald Trump’s relationship with Saudi Crown Prince Mohammed bin Salman faced intense scrutiny after the incident.
Furthermore, Jared Kushner, Donald Trump’s son-in-law and former advisor, received a $2 billion investment from a Saudi sovereign wealth fund for his investment firm after leaving the White House. Kushner’s role in the Trump administration, including his involvement in Middle East policy and the Abraham Accords, has also been subject to scrutiny.
A Look at Dar Global
Dar Global, the international division of Saudi developer Dar Al Arkan, boasts a substantial portfolio of projects under development, totaling $7.5 billion across the UAE, Oman, Qatar, the UK, Spain, and Saudi Arabia. The company’s focus on luxury real estate aligns with the Trump brand’s image and target market. This partnership provides Dar Global with access to the Trump brand’s recognition and potential customer base, while the Trump Organization gains further inroads into the lucrative Saudi Arabian real estate market.
Continued Expansion in the Middle East
The new projects in Riyadh signify the Trump Organization’s continued commitment to expanding its presence in the Middle East. Despite facing political headwinds and ethical concerns, the company appears poised to capitalize on the region’s growing real estate market. This latest venture underscores the organization’s strategy of leveraging licensing agreements to extend its brand reach and generate revenue, signaling its ongoing ambitions in global real estate development.
