American media CNN recently reported that when the entire work is completed, this tower in Jeddah will be the first major project of the Trump Organization in Saudi Arabia.
Eric Trump, executive vice president of the Trump Organization and son of former US President Donald Trump, said in a statement,
We are thrilled to expand our presence in the Middle East and bring Trump Tower-equivalent luxury to the region through our long-standing relationship with Dar Global.
According to Dar Global, this project is going to be built targeting the luxury market of Saudi Arabia and international investors.
The Trump Organization and Dar Global unveiled plans for a new project in Saudi Arabia just days after announcing the construction of the $500 million Trump International Hotel complex in Oman.
This five-star hotel complex will open in December 2028. It will include a nightclub, golf course, and ‘members-only’ club. Although not owned by the Trump Organization, Dar Al Arkan agreed to use the Trump name and logo under license for the hotel.
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However, according to CNN, if former President Donald Trump returns to power, these new projects of the Trump Organization in the Middle East may raise concerns about the conflict of geopolitical interests.
Donald K. Sherman, senior vice president and chief counsel for Citizens for Responsibility and Ethics in Washington (CREW), told CNN.
The Trump Organization’s continued business expansion outside the United States raises national security, corruption, and constitutional concerns.
A 2023 analysis by CREW found that Trump earned at least $9.6 million from Middle Eastern countries during his presidency.
The Trump Organization is largely owned by private trusts. Former US President Donald Trump is the sole beneficiary. The family business is run by Trump’s sons, Donald Trump Jr. and Eric Trump.
Source: CNN
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