Trump Organization announces new project in Saudi Arabia
The Trump Organization will construct a Trump Tower building in Jeddah, Saudi Arabia, the company announced Monday.
In partnership with a Saudi-owned developer, the Trump Organization effort expands its influence into the Middle East and comes after the Saudi government invested $2 billion with former President Trump’s son-in-law, Jared Kushner.
The building would be the Trump Organization’s first development in Saudi Arabia.
“We are thrilled to expand our footprint in the Middle East and bring the Trump standard of luxury to the region through our long-standing relationship with Dar Global,” Eric Trump, the former president’s son and executive vice president of the company, said in a statement. “This collaboration embodies our shared vision of creating landmark developments that exude luxury, quality, and sophistication.”
The announcement also comes weeks after developer Dar Global announced a licensing deal for a $500 million Trump International hotel complex in Oman. That project is not owned or operated by the Trump Organization.
Further development in the Middle East could raise concerns about conflicts of interest if Trump is reelected in November.
Saudi Crown Prince Mohammed bin Salman said last year that he plans to keep his $2 billion investment with Kushner’s hedge fund unchanged if Trump is elected again. The investment, which came just months after Trump left office, raised questions of a potential quid pro quo between Trump and Saudi leadership.
Sen. Ron Wyden (D-Ore.) launched an investigation into the investment and Kushner’s business dealings in Saudi Arabia and other gulf states last month.
Wyden argued that the investments with Affinity Partners could create “significant conflicts of interest and potential counterintelligence risks.”
“These arrangements also raise concerns that Affinity’s exclusively foreign funded private investment funds are being exploited as a loophole by Mr. Kushner and other former U.S. government officials as a means to avoid complying with the Foreign Agents Registration Act and other U.S. laws requiring U.S. persons to disclose payments from foreign governments,” Wyden wrote last month.
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