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Trump’s Real Estate Dealings Tee Off in Oman

The Trump Organization reportedly signed a $1.6 billion deal with Dar Al Arkan, a prominent Saudi developer, to license its name to the upcoming hotel and golf complex project. The project, called “Aida,” will consist of a golf resort, villas, and two hotels and will be constructed in Muscat, Oman, on a hillside next to the Gulf of Oman. The development will also have 3,500 housing units, 450 hotel rooms, and upscale shopping areas.

No designs for the Oman project have been released as the development is still in the design phase. However, the property is anticipated to be completed within the next ten years. According to a Trump family spokeswoman, it is still unclear whether one of the hotels will bear the Trump name, but the golf course will, making it the company’s 17th golf complex overall.

Real estate developments by Dar Al Arkan, which claims to have $8.5 billion in assets, can be found in Dubai, Bosnia, and China, where the business just launched a new office. Dar Al Arkan this week announced a third-quarter profit of SAR 79.4 million ($21.2 million), up from SAR 25.2 million in 2021. The quarter’s revenue totaled SAR 742.5 million, while the first nine months of the year’s revenue totaled SAR 3.04 billion.

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