Saudi property developer Dar Al Arkan has teamed up with the Trump Organisation for the development of a resort that will include residential villas, a hotel and a golf course in Muscat.
The Trump Resort will be located at Aida, a 100-metre-high hilltop development situated directly by the sea, Dar Al Arkan said in a statement on Sunday.
Dar Al Arkan and the Oman Tourism Development Company, better known as Omran, are developing the $4 billion mixed-use Aida real estate project in the Omani capital.
The development of Aida is due to begin in the first quarter of 2023, and the entire project will be developed over 10 years on an area of 3.5 million square metres.
Riyadh-based Dar Al Arkan is the largest developer in Saudi Arabia, and focuses on developing luxury residences and commercial centres in key locations across the kingdom. The company has delivered 15,000 residential units, over 500,000 square metres of commercial space and is expanding in its home market, the wider Middle East and Europe.
"The Trump Organisation is known for its exclusive, world-class developments," said Yousef Al Shelash, chairman of Dar Al Arkan.
"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 Tadawul-listed company has more than $8.53 billion of assets and is currently building three residential projects in Dubai — Dar Al Arkan Pagani Tower near the Dubai Canal, Urban Oasis by Missoni and W Residences in Downtown Dubai. It also is planning to start a new residential project in Abu Dhabi next year, as the UAE's property market bounces back from the coronavirus-induced slowdown.
The Trump Organisation and Dubai developer Damac are partners in two golf-related developments as part of Damac's Akoya scheme in Dubai.
Damac announced its first deal with the Trump Organisation in May 2013, when Mr Trump and his daughter Ivanka attended a launch event in Dubai to announce a Trump International Golf Club would be built at the 28 million square feet Akoya by Damac masterplanned community.
"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. At Aida, in the heart of Muscat, Oman, situated directly overlooking the incredible sea, we have truly found that," said Eric Trump, Executive Vice President of the Trump Organisation.
"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.”
The companies said the Trump resort would include "a championship golf course" designed by a renowned golf professional, but did not name the individual. The agreement announced on Sunday was signed in New York.
