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		<title>Ahead of Trump&#8217;s inauguration, Trump Organization expands its global business</title>
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		<pubDate>Fri, 13 Dec 2024 03:41:05 +0000</pubDate>
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					<description><![CDATA[As Donald Trump prepares to return to the White House, his namesake company is expanding its global footprint. Trump&#8217;s son Eric Trump, an executive vice president with the Trump Organization, on Wednesday formally announced that the family&#8217;s real estate company is partnering with the Saudi Arabian real estate firm Dar Al Arkan to launch a [&#8230;]]]></description>
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<p class="EkqkG IGXmU nlgHS yuUao MvWXB TjIXL aGjvy ebVHC">As <a class="zZygg UbGlr iFzkS qdXbA WCDhQ DbOXS tqUtK GpWVU iJYzE " data-testid="prism-linkbase" href="https://abcnews.go.com/alerts/donald-trump" target="_blank">Donald Trump</a> prepares to return to the White House, his namesake company is expanding its global footprint.</p>
<p class="EkqkG IGXmU nlgHS yuUao lqtkC TjIXL aGjvy">Trump&#8217;s son Eric Trump, an executive vice president with the Trump Organization, on Wednesday formally announced that the family&#8217;s real estate company is partnering with the Saudi Arabian real estate firm Dar Al Arkan to launch a Trump Tower in Jeddah, Saudi Arabia.</p>
<p class="EkqkG IGXmU nlgHS yuUao lqtkC TjIXL aGjvy">Earlier this week, the Trump Organization announced that it had leased its name for two projects in the Saudi capital of Riyadh, increasing the company&#8217;s role in a part of the world critical to United States&#8217; foreign policy.</p>
<p class="EkqkG IGXmU nlgHS yuUao lqtkC TjIXL aGjvy">&#8220;We&#8217;re doing projects in Jeddah, we&#8217;re doing projects in Oman, we&#8217;re doing projects in Riyadh, we&#8217;re doing projects all over the region,&#8221; Eric Trump said this week at a cryptocurrency conference in the United Arab Emirates.</p>
<p class="EkqkG IGXmU nlgHS yuUao lqtkC TjIXL aGjvy">The approach follows a lucrative business strategy the Trumps have embraced for decades &#8212; making money by <a class="zZygg UbGlr iFzkS qdXbA WCDhQ DbOXS tqUtK GpWVU iJYzE " data-testid="prism-linkbase" href="https://abcnews.go.com/US/trump-master-merchandise-face-fresh-conflicts-interests-experts/story?id=115912341" target="_blank">licensing their name</a> to projects rather than constructing or manufacturing them themselves. The recently announced projects are a significant expansion for the Trump Organization in Saudi Arabia, where they currently operate a golf course with a second one under development.</p>
<p class="EkqkG IGXmU nlgHS yuUao lqtkC TjIXL aGjvy">&#8220;We are delighted to strengthen our ongoing relationship with The Trump Organization and expand our portfolio by delivering premium properties to redefine Saudi Arabia&#8217;s high-growth real estate market,&#8221; said Ziad El Chaar, the CEO of Dar Global.</p>
<p class="EkqkG IGXmU nlgHS yuUao lqtkC TjIXL aGjvy">Trump was criticized for his close relationship with &#8212; and defense of &#8212; Saudi Arabia&#8217;s crown prince Mohammed bin Salman during his first term, following the <a class="zZygg UbGlr iFzkS qdXbA WCDhQ DbOXS tqUtK GpWVU iJYzE " data-testid="prism-linkbase" href="https://abcnews.go.com/Politics/newly-released-transcripts-moments-saudi-columnist-killed-embassy/story?id=65510648" target="_blank">2018 murder</a> of Saudi dissident and Washington Post columnist Jamal Khashoggi by Saudi agents. The Saudi government and Mohammed bin Salman have denied that the prince ordered the killing.</p>
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<p><span class="hsDdd OOSI GpQCA lZur VlFaz " data-testid="prism-truncate"><span><span class="gtOSm FbbUW tUtYa vOCwz EQwFq yCufu eEak Qmvg nyTIa SRXVc vzLa jgBfc WXDas CiUCW kqbG zrdEG txGfn ygKVe BbezD UOtxr CVfpq xijV soGRS XgdC sEIlf daWqJ ">In this Dec. 20, 2016 photo, a flag flies on a green lined with villas at the Trump International Golf Club, in Dubai, United Arab Emirates.</span></span></span></p>
<p><span class="YNujN JGtjI aZFDu rkKLh  gtOSm FbbUW tUtYa vOCwz EQwFq yCufu eEak Qmvg nyTIa SRXVc vzLa jgBfc WXDas CiUCW kqbG zrdEG txGfn ygKVe BbezD UOtxr CVfpq xijV soGRS XgdC sEIlf daWqJ ">Kamran Jebreili/AP, FILE</span></p>
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<p class="EkqkG IGXmU nlgHS yuUao lqtkC TjIXL aGjvy">Saudi Arabia&#8217;s sovereign wealth fund has also invested billions with the private equity firm of Trump&#8217;s son-in-law Jared Kushner.</p>
<p class="EkqkG IGXmU nlgHS yuUao lqtkC TjIXL aGjvy">During his first term, Trump vowed that his company would not take any foreign business deals, but it remains unclear if the president-elect will make a similar vow when he returns to the White House.</p>
<p class="EkqkG IGXmU nlgHS yuUao lqtkC TjIXL aGjvy">&#8220;Should I stop all expansion? I don&#8217;t know what the answer is. I tried to do everything right in 2016 and I got very little credit for it,&#8221; Eric Trump told the <a class="zZygg UbGlr iFzkS qdXbA WCDhQ DbOXS tqUtK GpWVU iJYzE " data-testid="prism-linkbase" href="https://www.wsj.com/livecoverage/harris-trump-election-10-23-2024/card/what-happens-to-trump-s-business-if-he-wins-eric-trump-has-thoughts-RvbCfDs30ChZV9f5kQF0" target="_blank">Wall Street Journal</a> in October, expressing confidence that the company would avoid conflicts.</p>
<p class="EkqkG IGXmU nlgHS yuUao lqtkC TjIXL aGjvy">A representative of Trump&#8217;s transition team did not respond to a request for comment from ABC News.</p>
<p class="EkqkG IGXmU nlgHS yuUao lqtkC TjIXL aGjvy">In the months ahead of the election, the Trump Organization has ramped up its overseas business, including agreeing to manage and brand a $500 million hotel and golf course in the Middle East country of Oman, and licensing its name for a Trump Tower in Dubai in the United Arab Emirates.</p>
<p class="EkqkG IGXmU nlgHS yuUao lqtkC eTIW sUzSN">&#8220;The UAE is the developer&#8217;s greatest dream, because they never say no to anything,&#8221; Eric Trump said at the crypto conference earlier this week.</p>
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