Khaberni - A report published by the "New York Times" states that the Trump Organization, owned by the American President, is conducting talks with the Saudi government about a real estate partnership worth $63 billion.
According to the report, the Trump Organization is conducting discussions that could lead to the creation of a property branded under Trump's trademark in one of the largest government real estate development projects in Saudi Arabia, according to the CEO of the Saudi company managing the project.
Trump is scheduled to host the Saudi Crown Prince Mohammed bin Salman in Washington next week, in his first visit to the White House in 7 years.
Bin Salman is overseeing a $63 billion project, which plans to transform the historical Saudi city of Diriyah into a luxury destination featuring hotels, retail stores, and office spaces. The Trump Company has a long history of employing its name in mixed-use projects that promote "iconic luxury," according to the newspaper.
According to the "New York Times," these negotiations represent the latest example of Trump blending sound governance with family business, especially in the Arabian Gulf countries.
Jerry Inzerillo, CEO of the Diriyah development project and an old friend of President Trump, said in an interview: "Nothing has been announced yet, but it will be announced soon." He added that it is only a matter of time before the Trump Organization finalizes the deal.
Inzerillo stated that Saudi officials toured the Diriyah project with Trump during the president's official visit in May, aiming to pique his interest in the project.
He added: "We have been fortunate, and perhaps it was smart to say, 'Well, let’s approach him as a developer' - and he liked that."
