The Trump organization has agreed to a new Golf Camp of the Middle East and a real estate agreement that involves a firm owned by the Qatar government, two weeks before President Trump will travel to Saudi Arabia, Qatar and the United Arab Emirates on a state visit.
The project in Qatar, a key ally of the United States and home from an important American military base, is an association with Qatari Diary, a real estate company established by the sovereign wealth of the country and chaired by a government minister.
The president’s son, Eric Trump, who runs the family business, traveled to the Middle East this week to attend a cryptocurrency conference and promote the company’s real estate developments. They include a separate tower from the Trump brand in Dubai, the largest city in the Emirates.
The two projects will also involve Global, the International Subsidiary of the Private Saudi Real Estate Firm, give the Arkan, which leads the project and has close links with the Saudi government. Reuters first reported the Qatar project.
The Trump Golf Field in Qatar is the most recently of a series of projects that directly involve foreign governments. In Oman, the Trump family has been associated in a hotel and golf project Global is being built in state lands, and the government will obtain part of the income generated, according to the company’s documents. In Serbia, the Trump family, which plans a new hotel is in a government owned by the government in collaboration with Jared Kushner, son -in -law of Trump.
Duration The first mandate of Mr. Trump, the family hero of signing international agreements while he was in office. In January, before Trump was inaugurated as president for the second time, the Trump organization issued a formal statement of ethics that “it would not have new transactions with foreign governments,” but would follow international agreements.
Eric Trump said in a statement on Wednesday that his family continued to honor this promise, since giving global had bought the land of the Government entity of Qatar.
“Our partners Dar bought them lands,” Trump said, after he appeared at a signature event with giving global and representatives of the Qatar government. “We have a zero relationship with them: they are there showing me the vision of the city.”
But the Trump organization has accelerated its international real estate agreement in the months after the old woman that Mr. Trump was re -elected, including a new development in Vietnam.
Few places exemplify the fluid business report of the Trump family with politics as clearly as Saudi Arabia, Qatar and the Emirates, the three Gulf countries that Mr. Trump will visit.
Sheikh Tahnoon Bin Zayed, the attached ruler of Abu Dhabi and the National Security Advisor of the Emirates, also supervises a fixed commercial empire and chairs G42, one of the main firms of artificial intelligence of the region. In Qatar, the Minister of Energy directs his state energy company.
In Saudi Arabia, almost all important businesses have links with the State, either through bets owned by the government in companies or extensive government contracts.
The president will arrive in the region on May 13 and avoid the traditional power centers, such as Egypt, in favor of three financial centers that collectively manage billions in assets through their sovereign wealth funds.
In 2017, Trump turned Saudi Arabia into his first foreign destination as president. When he left office, the kingdom became a key source of new businesses for his family. Liv Golf, a professional league backed by the Sovereign Saudi Fund and rival of the PGA Tour, has organized a tournament at the Trump National Doral Golf Club near Miami. The Wealth Fund has also invested $ 2 billion in an investment firm that Mr. Kushner established after leaving his position as a White House advisor during the president’s first mandate.
The president has said that Hey wants to bring $ 1 billion in investment to the United States from his trip to Saudi Arabia. But economists say it is unlikely that the kingdom will face a cash crunch.
Dubai, where a new Hotel and Torre de Trump International of 80 floors will overlook the highest skyscraper in the world, it is a “developer playground,” said Eric Trump in an interview on Tuesday with CNBC.
“We will come here and build a crown jewel and everyone will know, that is Trump International Hotel and Tower,” he said. “That is Trump.”
The project will also allow buyers to use cryptocurrency to buy properties, said at a global Dubai event this week. World Liberty Financial, the Trump family cryptocurrency firm, has recently negotiated agreements with companies in the region. These include DWF laboratories based in Emirates, which recently became one of the largest known holders of the Liberty World card after investing $ 25 million in the company.
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In recent years, in the midst of the slow global growth and high interest rates, entities backed by the State in Emirates, Saudi Arabia and Qatar have some of the few reliable capital sources. In March, the Emirati government promised to invest $ 1.4 billion in the United States in a decade. This week, Phil Murphy, the New Jersey Democratic governor, begged a trip to Saudi Arabia, the Emirates and Bahrain, looking for investments.
In most foreign offers of the Trump organization, the company’s partners put capital to build hotels, towers or golf courses. The Trump family is effective selling its name and brand, and generally plays a long -term role in property management.
The Trump organization is paid a brand rate in advance and after annual payments for foreign brand agreements and management rates that collectively have a value of approximately $ 10 million a year, according to a financial dissemination of 2024. Trump has directed the management of their companies to their children, but it still benefits financially from foreign projects thesis.
Zephyr Teachut, professor of corporate law and anti -corruption at the Fordham Law Faculty in New York, was part of a team that host Trump his first mandate for allegedly taking inadequate financial payments of foreign governments. The lawsuit, which Mr. Trump challenged, was considered debatable by the Supreme Court after Trump’s first mandate ended and before the case was decided. It does not have a leg referred to.
Mrs. Teachut said Trump’s last actions are the same. “It’s extremely worrying,” he said. “The military and commercial decisions of the government of Qatar now are now innumerable part of the broader private negotiation on a real estate agreement.”
The Qatar government did not respond to a request for comments. Qatari Diar did not respond to the calls made to its headquarters after business hours, but written on social networks that had been associated with giving global to launch Trump International Golf Club & Villas in an area in front of the sea called Simma. The project would sacrifice “a new luxury life standard with an 18 -hole golf course, an exclusive club house and villas in front of the beach brand,” he said.
Eric Trump told the New York Times after attending a signature event for the New Deal that the golf course and the villas would be “beautiful” and “just in the ocean.”
His father’s commercial relations in the Gulf are prior to his political career. Hussain Sajwani, founder and president of Damac Properties of Dubai, built the first golf course with the Trump brand in the Middle East a decade ago.
The Trump family ties with the region have deepened since he entered politics, with the Trump organization announcing three real estate projects with giving global in the Saudi cities of Jeddah and Riad last year.
The Trump Tower in Dubai will include a club just for Trump members and “the highest outdoor pool in the world,” said Global and the Trump organization in a press release on Wednesday.
Eric Trump used his visit to Dubai to announce his family’s ties with the Emirate and the region. “On behalf of Myelf, on behalf of my family, we love Dubai, we love the Gulf,” he said in the global event. “We have a great relationship between the United States and only one of the best places. And I am proud to call many of you friends.”
Ismael a Dubai contributed reports, United Arab Emirates.
