Trump Family’s Newest Partners: Middle Eastern Governments

Author: Yuvi November 21, 2022

Trump Family's Newest Partners: Middle Eastern Governments

The project is part of what the government there is calling Oman Vision 2040 to try to diversify the small nation’s economy by building new hotels and golf courses and other tourist attractions. Officials in Oman did not respond Sunday to a request for comment on the project, nor did representatives for Dar Al Arkan, which is one of Saudi Arabia’s largest real estate companies.

Relations between the United States and Oman were not nearly as warm during Mr. Trump’s tenure as they were with Saudi Arabia. Oman declined to sign the agreement, called the Abraham Accord, that normalized relations between other Middle East nations and Israel.

Executives at Riyadh-based Dar Al Arkan sent out a news release on Sunday confirming the deal with Trump Organization for the new project in Oman, while also distributing photos of Mr. Trump and Eric Trump at Trump Tower in New York with executives from Dar Al Arkan.

It is one of the first times since Mr. Trump was elected president that he has publicized his role in a new family real estate deal. The Trump family stopped signing new international deals after Mr. Trump was elected. The real estate deal with the Saudi partner in Oman is the first since he left the White House.

Ziad El Chaar, the chief executive of Dar Al Arkan Global, who attended the deal-signing event, used to work at Damac Properties, the Trump family’s partner in Dubai, where the Trump family has licensed its name to what is known as Trump International. Golf Club Dubai and Trump Estates at DAMAC Hills, a gated community adjacent to the fairways.

“We are confident the relationship with Trump will further enhance the beauty of Aida and attract investors from around the world looking to be part of an exceptional project,” Mr. El Chaar said in a statement released on Sunday.

Neither Eric Trump nor a spokesman for former President Trump responded to a request for comment.

The Oman deal was announced just as Mr. Trump was kicking off his third campaign for the White House, and while the Trump family, and Mr. Trump himself, is the target of a collection of ongoing civil and criminal investigations, including tax fraud charges against the Trump Organization and its long-serving chief financial officer, Allen H. Weisselberg.

If the company is convicted, it will face fines and potential blowback from lenders and business partners that might shy away from doing business with a felon; A conviction could also present new political challenges for Mr. Trump. But the maximum possible fine in the tax fraud case is only $1.62 million, a small amount for the company. In his most recent financial disclosure report, filed in early 2021 as Mr. Trump left the White House, Mr. Trump’s reported assets are worth at least $1.3 billion.

Vivian Nereim contributed reporting.

21 November, 2022, 4:39 am

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