Donald Trump’s family business has signed a $1.6bn deal with a Saudi real estate developer to build a resort in Oman, according to the New York Times.
The development will be built near Muscat and will incorporate residential housing and a golf complex the American newspaper said.
Trump will partner with Saudi Arabia’s Dar Al Arkan on the project.
Trump family eye Oman development
Designs for the development are not yet released, but Aida, as the project is known, will include 3,500 new homes and two hotels comprising 450 rooms as well as a golf course.
“It is an honour to work with Dar Al Arkan, who share our vision for superior quality and excellence,” the Trump Organisation said in a statement. “This will be a truly magnificent project that integrates luxury living and world-class hospitality at the highest levels.”
Dar Al Arkan agreed to license the Trump name for the $1.6 billion project, the report said.
It is the first deal of its kind since the former President left the Whitehouse and comes after he has forged close ties to Saudi Arabia.
“Executives involved in the project include Ziad El Chaar, the chief executive of Quara Holding, the conglomerate whose holdings include Dar Al Arkan,” said the New York Times report.
“Mr. El Chaar used to work at a real estate company that teamed up with the Trump family for a golf project in Dubai.”
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