Negotiations between the Trump Organization and Saudi Arabia regarding the construction-commercial project
The American media wrote that the Trump Organization is negotiating to build a Trump-branded property in a huge construction-commercial project in Saudi Arabia on the eve of Saudi Arabia’s Crown Prince Mohammed bin Salman’s visit to Washington.
According to Isna, the CEO of the Saudi company implemeing one of the largest construction projects in this Saudi coury says that the Trump Organization is negotiating to launch a property with the Trump brand in one of the largest real estate projects owned by Saudi Arabia.
The New York Times published this article and wrote: These negotiations are the latest example of the combination of Trump’s family business and governance, especially in the Persian Gulf couries. The US preside’s family and businesses have announced new foreign schemes worth billions of dollars and made hundreds of millions in digital currency profits since his return to power.
Trump is going to host “Mohammed bin Salman”, the crown prince of Saudi Arabia, next week.
Bin Salman is overseeing a $63 billion project to transform the historic city of Dariyah io a luxury destination with hotels, shopping malls and office space. Trump’s business has a long history of lending its name to multipurpose projects with the tagline “legendary luxury.”
US Preside Donald Trump and Saudi Arabia’s Crown Prince Mohammed bin Salman visited the historic city of Dariyah in May.
Will Trump’s brand reach the historic city of Dariyah?
The American media coinued to write: “Jerry Inzerillo”, the CEO of Dariyah Developme Company and a long-time friend of Trump, said in an ierview: “Nothing has been announced yet, but it will be soon.”
He added that the conclusion of the agreeme between the Trump Organization on the project will be done sooner or later.
According to Inzrillo, during Preside Trump’s official visit to Saudi Arabia in May, Saudi officials accompanied him on a tour of the Dariyah project to pique his ierest in the project.
“It turned out to be a stroke of luck and maybe a little bit of smartness on our part to say, well, let’s get him on board as a make-and-sell—and he fell in love with it,” he said.
The Trump Organization did not respond to questions about the poteial deal, and Eric Trump, one of Trump’s two sons who oversees the family business, did not respond to The New York Times’ request for comme.
It was further discussed: In iernational real estate negotiations, it is often difficult to separate reality from hype. Speculation does not always lead to negotiations, and negotiations do not always lead to signed coracts.
“Ziyad Al-Shaar”, the CEO of Dar Global, who is the most importa foreign business partner of the Trump Organization and an importa communication channel with Arab governmes and Persian Gulf companies, said last moh that Trump’s new projects in Saudi Arabia are on the way.
Dar Global did not specify whether the commes referred to Dariyah or another yet-to-be-announced deal. All these huge projects are owned by the Saudi sovereign wealth fund. The company did not respond to requests for comme.
Eric Trump, on behalf of the Trump Organization, signed a coract in Qatar in April to build a golf course and luxury resideial complexes.
The boom of the Trump family’s business in the Persian Gulf couries after his return to the White House
The New York Times wrote: Al-Shaar and Inzerillo’s statemes indicate the boom in the Trump family’s business negotiations in the Persian Gulf couries since last year.
The construction of a Trump Tower is planned in Jeddah and two projects have been announced in Riyadh. The construction of a hotel and Trump Tower in Dubai – the largest city of the United Arab Emirates – is progressing. Also, a golf course deal in Qatar has made the Trump family a partner in a state-owned real estate company in the coury.
Al-Shaar and Dar Global have been in charge of all these transactions. In order to use Trump’s name, a royalty fee must be paid for each of these designs. According to Dar Global, last year it paid 21.9 million dollars for royalties to the Trump Organization, and part of this money goes to the preside himself.
Licensing deals can be lucrative. Often, a company gets paid to use its name and does not need to invest in the project itself. The Trump Organization’s licensing agreemes are confideial and its coes cannot be known.
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