Trump Inks Licensing Deal For $1.6 Billion Saudi Real Estate Development

The Trump Organization signed an agreement to license its brand to a housing and golf complex set to be built in Oman by a Saudi Arabian developer, according to the New York Times.

The $1.6 billion project, known as Aida, will be developed by Dar Al Arkan. In addition to the golf course, the development will include an estimated 3,500 residential units, 450 hotel rooms and luxury destinations. The financial terms of the deal with the Middle East developer were not disclosed.

Dar Al Arkan is well known for its several luxury developments, such as the 384-unit W Residences Downtown in Dubai and Le Vagues by Elie Saab in Qatar. The developer also recently completed the world’s tallest 3D-printed building – a three-story villa in Shams Al Riyadh, northwest of Riyadh, Saudi Arabia.

The licensing deal is the first international marketing agreement the Trump Organization has negotiated since the end of Donald Trump’s presidential term.

Read the full story on Benzinga: Trump Inks Licensing Deal For $1.6 Billion Saudi Real Estate Development



Photo by Evan El-Amin on Shutterstock
 

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