The Trump family has struck a deal with a Saudi-based real estate company to license its name to a housing and golf complex that will be built in Oman. The first such international marketing agreement the Trump Organization has negotiated since Trump left the White House, emerged as the Former President already faces a string of investigations into his business.
The project is slated to be built in Muscat, Oman, on a hillside adjacent to the Gulf of Oman, and will include a golf resort, villas, and two hotels, a company executive said. The Trump family is teaming up with Dar Al Arkan, one of Saudi Arabia’s largest real estate companies, for the project.
Trump Organization confirmed the paperwork had been signed to have the Trump brand be a part of the $1.6 billion project, which goes by the name Aida and will include an estimated 3,500 residential units, luxury retail and 450 rooms at the hotels.
“It is an honor to work with Dar Al Arkan, who share our vision for superior quality and excellence,” the Trump Organization said in the statement. “This will be a truly magnificent project that integrates luxury living and world-class hospitality at the highest levels.”
Executives involved in the project include Ziad El Chaar, the Chief Executive of Quara Holding, the conglomerate whose holdings include Dar Al Arkan. El Chaar used to work at a real estate company that teamed up with the Trump family for a golf project in Dubai.
The Oman project is expected to be built over the coming decade, with design work still underway. A spokesman for the Trump family said it was not yet clear if one of the hotels would be branded in the Trump name, but the golf course will be, making it the 17th golf complex in the company’s collection. Dar Al Arkan, which says it has $8.5 billion in assets, has real estate projects in spots around the world, including in Dubai, Bosnia, and China, where the company recently opened a new office.
