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Eric Trump, the son of the US president, has travelled to the Gulf as the Trump family expands their business in the region, striking a deal involving a Qatari state-owned company shortly before Donald Trump is scheduled to visit.
The Trump Organization on Wednesday agreed a deal in which Saudi construction company Dar Global will license the Trump name for a branded golf club and luxury villas north of Doha, part of a development led by Qatari state company Qatari Diar.
Eric Trump is also speaking at a cryptocurrency conference in Dubai on Thursday.
Although Trump’s sons manage the company, the Qatar deal will stoke concerns that the president’s family stands to benefit financially from business in countries with whom the US has close relationships, including in defence.
The dealmaking also marks a shift from Trump’s first term, when his family real estate group refrained from starting new projects.
The Trumps are also pushing ahead with hotel development. The Trump Organization and Dar Global, the international arm of Saudi real estate group Dar Al Arkan, on Wednesday launched the 80-floor Trump International Hotel and Tower in Dubai, their latest joint project in the region.
They are also developing a Trump golf club and residences in Oman, and a Trump tower in Saudi Arabia’s second city Jeddah.
Eric Trump, the Trump Organization’s executive vice-president, is visiting the United Arab Emirates for at least the third time in 10 months.
Ahead of his father’s election victory, he told the Financial Times that the Trump family business intended to continue doing deals in the oil-rich region but denied any conflict of interest in the event he was re-elected, saying the company did not deal directly with governments.
The Trump family has also waded into the volatile digital asset industry, with Trump-branded tokens and crypto firm World Liberty Financial.
The US president is scheduled to visit Saudi Arabia, Qatar and the UAE later this month. The Gulf is home to huge sovereign wealth funds and growing economies, and both the UAE and Saudi Arabia have pledged to invest billions in the US. More deals and investments are expected to be announced during Trump’s trip.
The region is also an important diplomatic venue for the US, which is conducting talks with Iran in Oman and with Russia in Saudi Arabia. Meanwhile, Doha hosts Gaza ceasefire negotiations, which the US helps mediate.
The US military has bases across the region, and Gulf countries are among the biggest buyers of arms from American companies — deals that require government approval.
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