Trump Organization Is Said to Be in Talks on a Saudi Government Real Estate Deal

[BeyondGeography]

The Trump Organization is in talks that could bring a Trump-branded property to one of Saudi Arabia’s largest government-owned real estate developments, according to the chief executive of the Saudi company leading the development. The negotiations are the latest example of Mr. Trump blending governance and family business, particularly in Persian Gulf countries. Since returning to office, the president’s family and businesses have announced new ventures abroad involving billions of dollars, made hundreds of millions from cryptocurrency, and sold tickets to a private dinner hosted by Mr. Trump.

Mr. Trump is set to host Crown Prince Mohammed bin Salman, Saudi Arabia’s de facto ruler, in Washington next week. The prince is overseeing a $63 billion project that is set to transform the historic Saudi town of Diriyah into a luxury destination with hotels, retail shops and office space. The Trump business has a history of lending its name to mixed-use projects touting “iconic luxury.”

…Next week, Prince Mohammed is expected to make his first visit to the United States in seven years. He hopes to sign a mutual defense agreement with Washington and potentially advance a deal to transfer American nuclear technology to Saudi Arabia. That sets up a scenario in which Mr. Trump discusses matters of national security with a foreign leader who is also a key figure in a potential business deal with the president’s family.

…The Trump Organization swore off new foreign business deals after Mr. Trump’s 2016 election, but that pledge ended with his first term. The recent blending of business and politics has shattered American norms but is ordinary in the Gulf, where hereditary ruling families hold nearly absolute power and the phrase “conflict of interest” carries little weight. In Saudi Arabia, development officials saw Mr. Trump’s state visit in May as a chance to spark his interest in Diriyah, Mr. Inzerillo said. On his first night in Riyadh, ahead of the state dinner, Mr. Trump and Prince Mohammed visited Diriyah’s renovated historical center. The two leaders talked “not just as heads of state,” but as “visionaries and developers,” Mr. Inzerillo said. Mr. Trump was impressed by the number of construction cranes working on the vast site, he added.

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