Saudi’s Dar Global announces Maldives project with Trump Organization
- The project involves the construction of a luxury hotel
DUBAI: Saudi developer Dar Global on Monday announced a new partnership in the Maldives with the Trump Organization, ahead of talks between Crown Prince Mohammed bin Salman and US President Donald Trump in Washington.
The project involves the construction of a luxury hotel under the Trump International brand, with investors able to participate in its financing through digital tokens, the London Stock Exchange-listed Dar Global said in a statement.
Dar Global and the property empire of the Trump family are already partners in several projects in Oman, the United Arab Emirates and Saudi Arabia.
In September, the Trump Organization signed a deal for a “mixed-use community” in the Saudi coastal city of Jeddah in a project Dar Global valued at $1 billion.
Trump Organization plans second Saudi development in Jeddah
The Saudi crown prince, the country’s de facto ruler, is expected at the White House on Tuesday for his first visit in seven years.
The prince has good relations with Trump, whom he welcomed to the kingdom in May and pledged $600 billion in investments.
Since 2016 the Trump Organization has been headed by Donald Trump Junior and Eric Trump, although their father remains a shareholder through a trust.
Comments
Comments are closed for this article.