Saudi Arabia’s Dar Al Arkan, Trump sign deal to build $4B Oman real estate project
A Saudi’s real estate company has signed a deal with the Trump Organization to build a project worth over $4 billion.
Saudi Arabia’s Dar Al Arkan real estate company has signed a deal with the Trump Organization to develop a signature Trump Resort worth $4 billion in Muscat, Oman.
The 100-meter-high hilltop development is set to be one of the world’s largest mixed-use real estate projects, situated directly by the sea, the company said in a statement on Sunday.
The AIDA project, a joint venture with the Oman Tourism Development Company (OMRAN Group), will include residential villas, a hotel, and a golf course built near Muscat.
Development of the project will begin next year and is expected take more than a decade to complete.
“When we were looking at our next project and where we wanted to expand our footprint, we knew it had to be in an outstanding location and with an amazing team,” Eric Trump, Executive Vice President of the Trump Organization, said in a statement.
“At AIDA, in the heart of Muscat, Oman situated directly overlooking the incredible sea, we have truly found that. Together with Dar Al Arkan, we are going to deliver an exceptional Trump Golf resort with the finest residential villas, a world-class hotel, and an iconic golf course, all in one of the most beautiful settings,” Trump added.
AIDA’s master plan was designed to adopt architectural foundations, utilizing Oman’s rich natural surroundings. It is being developed sustainably, fully respecting and preserving the topography and unique environmental features of the area with homes integrating seamlessly within the cliffs.
“The Trump Organization is known for its exclusive, world-class developments. Superior quality, detail, and perfection are the standards that Trump demands throughout its projects – from residential to resort, from hotel to golf, and from commercial office to retail,” said Dar Al Arkan Chairman Yousef al-Shelash.
“We are always looking to enhance Dar Al Arkan’s unique projects with premium facilities and experiences, and our partnership with Trump will distinguish our first project in Oman and put it on the global map.”
The new Trump property, which will feature a championship golf course designed by a renowned golf professional, will be built upon a hill with sweeping views of the sea.
The meticulously planned golf course will include state-of-the-art golf facilities, an expansive golf club, and an array of amenities ultimately creating a new luxury benchmark for golf in the region.
“AIDA sits on a high peak overlooking one of the most breath-taking horizons in the world. Imagine the beautiful setting of a villa in these majestic surroundings or playing a game of golf overlooking the sea – it is truly unrivalled,” said Dar Al Arkan Global’s CEO Zaid el-Chaar.