Oman’s oil-rich government has an unusual partner on a new multibillion-dollar project: former President Donald Trump. Details of the agreement to develop a hotel and golf complex highlight the ways Trump’s business and political roles intersect.
American investor, real-estate developer, newspaper publisher, and senior advisor to President Donald Trump
Trump has been selling his name to global real estate developers for more than a decade. But the Oman deal has taken his financial stake in one of the world’s most strategically important and volatile regions to a new level, underscoring how his business and his politics intersect as he runs for president again amid intensifying legal and ethical troubles.
Trump’s business ties in the Middle East have already been under intense scrutiny. Federal prosecutors who brought criminal charges against him in the case stemming from his mishandling of classified documents issued subpoenas for information about his foreign deals and the agreements with the Saudi-backed LIV Golf tour.
Oman, in fact, is nothing like the Hamptons. It is a Muslim nation and absolute monarchy, ruled by a sultan, who plays a sensitive role in the Middle East: Oman maintains close ties with Saudi Arabia and its allies, but also with Iran, with which it has considerable trade. Trump did not pursue any new international real estate deals while in office, but his search for deep-pocketed international partners picked up when he left the White House in January 2021, his reputation at home tarnished by the Jan. 6, 2021, assault on the Capitol. And it was through Dar Al Arkan, the Saudi real estate company, that Trump and his family firm got into the Oman project.
“Our partnership with Trump will distinguish our first project in Oman and put it on the global map,” Yousef Al Shelash, the chair of Dar Al Arkan, said in a statement issued as the deal was signed. Next door is the second phase — called Oceana at Aida — that will be built by Dar Al Arkan on a desertlike plateau towering nearly 450 feet above the Gulf of Oman, offering extraordinary views.
DarGlobal is teaming up with luxury brands like Missoni, Versace, Lamborghini — as well as the Trump family — on projects outside Saudi Arabia targeting international buyers. DarGlobal is targeting buyers who will pay as much as a 30% premium for a “branded” town house and can often buy their units with cash, according to a confidential company document obtained by the Times.
It will have similar management rights over the 18-hole golf course and golf club, which will be known as Trump International Golf Club Oman. There will also be over 200 “Trump branded residential villas,” according to one company document published in January, and marked confidential. Like other Middle Eastern nations, Oman has drawn scrutiny for its treatment of foreign workers. In a report last year, the State Department listed “labor exploitation of foreign migrants” as among the human rights issues it is monitoring in Oman.
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