By Andrew Mills and Federico Maccioni
DOHA (Reuters) -Real estate developers Qatari Diar and Dar Global will announce a deal on Wednesday to build Qatar’s first Trump-branded real estate project, a source with knowledge of the plans told Reuters on Tuesday.
The Trump International Golf Course and Trump Villas will be part of the Simaisma beachside development 40 minutes north of the Qatari capital Doha, the source said, speaking on condition of anonymity.
The $5.5 billion Simaisma development, led by Qatari Diar, is designed as a 7 km-long mega entertainment resort district, anchored by an 18-hole golf course and a Land of Legends theme park.
Wednesday’s deal will come amid a visit to the Gulf by Eric Trump, the son of U.S. President Donald Trump and a Trump Organization executive. Eric Trump told Reuters on Tuesday that the Gulf region is dependent on a strong U.S., and that the whole region wants security so local economies can flourish.
Dar Global, the international arm of Saudi Arabia’s Dar Al Arkan Real Estate Development Company, has already unveiled several projects in partnership with the Trump Organization. These include plans for a Trump tower in Dubai launched on Tuesday and two more in Saudi Arabia’s Jeddah and Riyadh, as well as real estate projects in Oman.
But the Trump golf course and villas will make up the first Trump-branded project in gas-rich Qatar.
When reached by Reuters, a representative for Qatari Diar would not comment on the agreement. Representatives for Dar Global and the Trump Organization did not immediately respond to Reuters’ requests for confirmation and comment.
In a coup for Doha, President Trump is set to visit Qatar in the coming weeks in his first major foreign trip, which is also set to include stops in Saudi Arabia and the UAE.
Trump has suggested that he would sign major investment agreements in all three countries.
(Reporting by Andrew Mills in Doha and Federico Maccioni in Dubai; Editing by Emelia Sithole-Matarise and Jan Harvey)
Comments