Real Estate Saudi Arabia’s Dar Al Arkan signs deal for Trump project in Oman By Reuters November 21, 2022 Oman News Agency The Aida project, a joint venture with Oman Tourism Development Company, will include Trump residential villas, a hotel and a golf course Saudi Arabian real estate developer Dar Al Arkan said it signed an agreement with former US President Donald Trump’s company to use the Trump Brand for its $4 billion project in the Gulf state of Oman that includes a golf course, hotel and villas. The regulatory statement issued on Sunday did not disclose the financial terms of the agreement with the Trump Organization, which 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 built near Muscat and would take over a decade to complete, the Dar Al Arkan filing said. Trump had handed control of the business to his sons while in office. He enjoyed close ties with Gulf states during his tenure as president, including Saudi Arabia which has invested $2 billion with a firm of Jared Kushner, Trump’s son-in-law and former aide, incorporated after Trump left office. The Trump Organization has two golf properties in Dubai in the United Arab Emirates, the Middle East’s financial and tourism hub, in partnership with property developer Damac.
