Trump Organization signs licensing deal for new $1.6 billion golf resort in Oman

by Fairways Magazine 
Tweet
Share
Share
Pin
Golf Business News

The Trump Organization has struck a deal with a Saudi-based property company to license its name to a housing and golf complex that is to be built in Oman.

The $1.6 billion project, which goes by the name Aida, is to be built in Muscat, on a hillside adjacent to the Gulf of Oman, and will include a golf resort, 3,500 residential units, luxury retail and 450 hotel rooms spread between two hotels, a company executive said.
According to a report in the New York Times, the Trump Organization has partnered with Dar Al Arkan, one of Saudi Arabia’s largest real estate companies, for the project. The deal will enable The Trump Organisation to earn income from a share of property sales or golf course revenue in exchange for allowing its name to be used.

“It is an honor to work with Dar Al Arkan, who share our vision for superior quality and excellence,” the Trump Organization said in the statement. “This will be a truly magnificent project that integrates luxury living and world-class hospitality at the highest levels.”

The Oman project is expected to be built over the coming decade, with design work still underway
.
A spokesman for the Trump Organization said it was not yet clear if one of the hotels would be branded in the Trump name, but the golf course will be, making it the 17th golf complex in the company’s collection.

Tweet
Share
Share
Pin
Fairways Magazine

Add a Comment

Your email address will not be published. Required fields are marked *