What is Dar Al Arkan? Trump family signs billion-dollar deal with Saudi firm for new resort in Oman
The Saudi developer of a vast $1.6 billion hotel and golf complex in Oman has inked a licensing agreement with the Trump family. The resort and villas built on a hillside near the Gulf of Oman will bear the Trump name, continuing a tradition that provided the Trump Organization with significant revenue before Donald Trump was elected president.
This comes at a time when the former president has fueled intense speculation about a possible 2024 run as he is set to make a "major announcement" on Tuesday night at his Mar-a-Lago estate. While an inquiry into the family firm's business operations is ongoing, a New York judge on Monday appointed a monitor to oversee some aspects of the firm.
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The corporation had already promised not to pursue international agreements while Trump was in the White House. Daily Mail reported that the Trump Organization acknowledged the agreement with Saudi developer Dar Al Arkan but did not provide financial details.
According to New York Times, the Trump Organization's statement read, "It is an honor to work with Dar Al Arkan, who share our vision for superior quality and excellence. This will be a truly magnificent project that integrates luxury living and world-class hospitality at the highest levels."
On hilltops 300 feet above Muscat's coasts, the project's website depicts a "charming mixed-use development project, A place where the earthy atmosphere envelops 3,500 residential units consisting of medium-sized villas, townhouses, and low-rise apartments," it adds. "A place where two charming hotels, a plaza filled with cafes and restaurants, a gated promenade, luxury retail and wellness centers, and gorgeous outdoor landscapes await."
When Donald Trump was president, the Trump family skirted clear of accusations of conflicts of interest by staying away from overseas deals. However, numerous probes against the family have made it difficult to negotiate new agreements. Information about the new deal became public on Monday, the day before American media was scheduled to assemble at Mar-a-Lago.
On the eve of the midterm elections last week, Trump said he expected to make a significant announcement on Tuesday. He has previously hinted at a 2024 candidacy, Daily Mail reported.
The expenditures of government representatives from Saudi Arabia, Qatar, China, the United Arab Emirates, Turkey, and Malaysia were examined in depth by the House Oversight Committee. "Today, I am releasing the first set of documents revealing that, during the same time periods they were seeking to influence American foreign policy, six nations spent more than $750,000 at President Trump's hotel - renting lavish rooms for up to $10,000 per night," declared House Oversight Committee Chair Carolyn Maloney.
The documents were delivered to the committee by Mazars, the former president's accounting firm, after Elijah Cummings, the late chair of the Oversight Committee, issued a subpoena for them. During the Qatar crisis, government representatives from Saudi Arabia, the UAE, and Qatar spent money at the Trump International Hotel in Washington, DC, Daily Mail reported.