• The Trump Signature Villas are in an enclave of properties within Trump International Golf Club Oman, in Aida, Muscat. All photos: Dar Global
    The Trump Signature Villas are in an enclave of properties within Trump International Golf Club Oman, in Aida, Muscat. All photos: Dar Global
  • The villas come in three to seven bedrooms.
    The villas come in three to seven bedrooms.
  • The properties offer sea views.
    The properties offer sea views.
  • The villas also come with elite membership of the golf club.
    The villas also come with elite membership of the golf club.
  • Phase one of the Trump Villas project is expected to be completed this year.
    Phase one of the Trump Villas project is expected to be completed this year.
  • The development is expected to be finished by 2026.
    The development is expected to be finished by 2026.

Business

Property

Dar Global reveals Trump Villas design for Muscat resort and golf course

Saudi property developer creating a resort with residential villas, hotel and golf course

Neil Halligan
Neil Halligan

March 05, 2024

  • English
  • Arabic

Saudi property developer Dar Global has released the designs for villas in the Trump community at its Aida resort and golf course development in Muscat.

The Trump Signature Villas, an enclave of properties within Trump International Golf Club Oman, come with "elite membership" of the golf club and a Trump-branded golf cart, Dar Global said.

The villas, which will have sea views from an elevation of over 130 metres, range from three to seven bedrooms, starting at 1,345 square feet in size.

Phase one of the Trump Villas project is expected to be completed this year, according to Dar Global's website, with the development expected to be finished by 2026.

Dar Global, an international unit of Saudi Arabia's largest developer Dar Al Arkan, and the Oman Tourism Development Company, also known as Omran, are developing the $4 billion mixed-use Aida project in the Omani capital.

An agreement was signed with the Trump Organisation in 2022 when it was announced the development would include "residential villas, a world-class hotel and an iconic golf course", designed by a renowned golf professional, but did not name the individual.

The Aida gated community project, spread over an area of 3.5 million square metres, will be developed over 10 years, with the first phase ready by 2027.

Cavendish Maxwell, in its report on Oman's real estate sector in January, said the Sultanate's residential market is expected to expand this year. Estimated to have a market size of $4 billion in 2023, this figure is projected to reach $6.23 billion by 2028.

Riyadh-based Dar Al Arkan is the largest developer in Saudi Arabia, focusing on luxury developments and commercial centres in major cities across the kingdom.

Dar Global was established in 2017 to develop the company's international assets.

In February last year, Dar Global was listed on the main market of the London Stock Exchange to expand its investor base.

Dar Global, which has a market cap of roughly $657 million, aims to expand globally with a pipeline of close to $3.6 billion worth of projects planned in the UAE, Oman, Qatar, Spain, Bosnia and the UK.

MATCH INFO

Chelsea 3 (Abraham 11', 17', 74')

Luton Town 1 (Clark 30')

Man of the match Abraham (Chelsea)

Favourite book: ‘The Art of Learning’ by Josh Waitzkin

Favourite film: Marvel movies

Favourite parkour spot in Dubai: Residence towers in Jumeirah Beach Residence

You might also like
While you're here

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

RECORD%20BREAKER
%3Cp%3E%3Cstrong%3EYoungest%20debutant%20for%20Barcelona%3A%3C%2Fstrong%3E%2015%20years%20and%20290%20days%20v%20Real%20Betis%3Cbr%3E%3Cstrong%3EYoungest%20La%20Liga%20starter%20in%20the%2021st%20century%3A%20%3C%2Fstrong%3E16%20years%20and%2038%20days%20v%20Cadiz%3Cbr%3E%3Cstrong%3EYoungest%20player%20to%20register%20an%20assist%20in%20La%20Liga%20in%20the%2021st%20century%3A%20%3C%2Fstrong%3E16%20years%20and%2045%20days%20v%20Villarreal%3Cbr%3E%3Cstrong%3EYoungest%20debutant%20for%20Spain%3A%3C%2Fstrong%3E%2016%20years%20and%2057%20days%20v%20Georgia%3Cbr%3E%3Cstrong%3EYoungest%20goalscorer%20for%20Spain%3A%3C%2Fstrong%3E%2016%20years%20and%2057%20days%3Cbr%3E%3Cstrong%3EYoungest%20player%20to%20score%20in%20a%20Euro%20qualifier%3A%3C%2Fstrong%3E%2016%20years%20and%2057%20days%3C%2Fp%3E%0A
While you're here
The Specs

Price, base Dh379,000
Engine 2.9-litre, twin-turbo V6
Gearbox eight-speed automatic
Power 503bhp
Torque 443Nm
On sale now

SPECS
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%202-litre%204-cylinder%20turbo%20and%203.6-litre%20V6%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3ESeven-speed%20automatic%0D%3Cbr%3E%3Cstrong%3EPower%3A%3C%2Fstrong%3E%20235hp%20and%20310hp%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E258Nm%20and%20271Nm%0D%3Cbr%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20From%20Dh185%2C100%0D%3Cbr%3E%3C%2Fp%3E%0A
Credits

Produced by: Colour Yellow Productions and Eros Now
Director: Mudassar Aziz
Cast: Sonakshi Sinha, Jimmy Sheirgill, Jassi Gill, Piyush Mishra, Diana Penty, Aparshakti Khurrana
Star rating: 2.5/5

While you're here
COMPANY PROFILE

Name: Xpanceo

Started: 2018

Founders: Roman Axelrod, Valentyn Volkov

Based: Dubai, UAE

Industry: Smart contact lenses, augmented/virtual reality

Funding: $40 million

Investor: Opportunity Venture (Asia)

Updated: March 05, 2024, 4:31 PM
PropertyOmanSaudi Arabia