KSA’s Dar Al Arkan signs $4bn deal with Trump organization for resort project in Oman
Dar Al Arkan, the real estate developer of Kingdom of Saudi Arabia (KSA) has secured a $4 billion agreement with organization of the former US President Donald Trump towards development of a resort project in Oman. The Trump resort will be including residential villas, a hotel and a golf course. The resort site is at Aida, a 100 meter high hilltop project jointly developed by Dar Al Arkan and the Oman Tourism Development Co.
The project will be developed over 10 years on an area of 3.5 million square meters and is expected to reach a joint investment of SR6 billion ($1.59 billion), according to the filing. “We are always looking to enhance Dar Al Arkan’s unique projects with premium facilities and experiences. Our partnership with Trump will distinguish our first venture in Oman and put it on the global map,” said Yousef Al Shelash, chairman of Dar Al Arkan, in a company statement. “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,” he added. The 100 meter high hilltop development is considered to be one of the largest premium mixed-use real estate projects in the world that is located by the sea.
“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,” said Eric Trump, executive vice president of the Trump Organization, in the statement. “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.”
“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. The golf course of the resort facility will include state-of-the-art golf facilities, an expansive golf club, and plethora of amenities that will bring a new luxury benchmark to the region with this project.