The Trump family has reached an agreement with a Saudi-based real estate firm to permit its title to a residential and golf complex that will be constructed in Oman.
This reignites questions about former President Donald J. Trump’s blending of both politics and business as he prepares to launch a third presidential campaign.
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The announcement of the arrangement, the very first global marketing arrangement the Trump Organization has made since Mr. Trump left the White House, comes while the former president had already been the subject of a number of corporate inquiries.
A corporate representative stated that the development will be constructed in Muscat, Oman, on a hilltop close to the Gulf of Oman, and will contain a golf course, condos, and two hotels.
The Trump family is collaborating together with one of Saudi Arabia’s major real estate enterprises, Dar Al Arkan, on this development.
Before Mr. Trump’s election as president, agreements like this, where the Trump family receives a cut of condominium sales or golf resort income in return for allowing its brand to be used, were a key source of money for the Trump Organization.
NEW: Trump Org has signed a new deal with a Saudi real estate company to build a project in OMAN renewing a swirl of questions about former President Donald J. Trump’s mixing of politics and business. @maggieNYT @benprotess https://t.co/jsfgrW2Pzp
— Eric Lipton (@EricLiptonNYT) November 15, 2022
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However, the family decided not to sign any new overseas agreements while Mr. Trump was president, and it has been reluctant to arrange any new ones after he left office due to legal and ongoing investigations that have preoccupied the Trumps and hampered the future performance.
The new agreement comes at a time when the Trump Organization is besieged by legal issues. It is facing criminal tax fraud allegations in Manhattan’s State Supreme Court and a case from New York Attorney General Letitia James, who charged Mr. Trump, his business, and three of his kids of corruption.
The parameters of the agreement with Dar Al Arkan were not publicized.
However, a spokeswoman for the Trump Organization verified that the necessary paperwork had already been completed to incorporate the Trump brand into the $1.6 billion Aida project, which will contain an anticipated 3,500 housing properties, premium stores, and 450 hotel rooms.
In a release, the Trump Organization stated, that it is a privilege to partner with Dar Al Arkan, who shares their commitment to high standards and excellence. This will be a genuinely beautiful property that combines the greatest levels of luxury living and global leisure.
On the eve of Trump announcing a new presidential bid, the NYTimes is reporting that he made deal with a Saudi estate developer to license his name to a Trump Tower/golf resort in Oman. Notable: the U.S. has no extradition treaties with either Oman or Saudi Arabia
— Howie Klein (@downwithtyranny) November 15, 2022
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Publication of the transaction, which emerged after a journalist from The New York Times inquired about the development, emerged on the eve of Mr. Trump’s projected declaration of his 2024 presidential campaign, yet again raising doubts about his financial relationships with foreign governments.
Robert Weissman, the president of the liberal government monitor Public Citizen, stated that the Trump fraud machine is back in operation.
He went on to say I It is an astonishing disclosure on the eve of his likely presidential candidacy declaration. Even without that, it would be astonishing as another in a string of favors from the Saudi nation to the Trump family.
