Trump Organization Announces New Project in Saudi Arabia

Nick Robertson and The Hill

7 hours ago

The Trump Organization will build a Trump Tower building in Jeddah, Saudi Arabia, the company announced Monday.

In partnership with a Saudi developer, the Trump Organization’s effort expands its influence in 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 presence 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 chairman’s son and the company’s executive vice chairman, said in a statement. “This collaboration embodies our shared vision of creating landmark projects that exude luxury, quality and sophistication.”

The announcement comes weeks after developer Dar Global announced a licensing deal for a $500 million Trump International resort in Oman. The project is not owned or operated by the Trump Organization.

New developments in the Middle East could raise concerns about conflicts of interest if Trump is re-elected in November.

Saudi Crown Prince Mohammed bin Salman said last year that he planned to keep his $2 billion investment in Kushner’s hedge fund unchanged if Trump is reelected. The investment, which comes just months after Trump left office, has raised questions about a possible compromise deal between Trump and the Saudi leadership.

Sen. Ron Wyden (D-Oregon) last month launched an investigation into Kushner’s investment and business dealings in Saudi Arabia and other Gulf states.

Wyden argued that 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 equity funds are being used as a loophole by Mr. Kushner and other former U.S. government officials to avoid compliance with the Foreign Agents Registration Act and other U.S. laws requiring U.S. citizens to disclose payments from foreign governments,” Wyden wrote last month.