The News
Ahead of US President-elect Donald Trump’s inauguration in January, his family-run business is charging ahead with plans to deepen ties with the Gulf through real estate projects.
Last week, Eric Trump, executive vice president of The Trump Organization, touted crypto and announced plans for two new Trump Towers in Saudi Arabia while on a tour of the region.
The first, a $532-million, 47-story luxury tower in Jeddah, is slated for completion in 2028. Eric Trump also hinted at new ventures: “We’ll probably be in Abu Dhabi in the next year or so.”
The Jeddah skyscraper project is in partnership with Dar Global — the international arm of Saudi developer Dar Al Arkan — which will also build Trump Tower in Riyadh and a golf club.
The two companies already have a $2.66 billion golf development underway in Oman and plan to build a hotel in Dubai next year. These ventures are likely to raise fresh concerns about potential conflicts of interest during the next administration.