Trump Family Signs Deal With Saudi Real Estate Developer
The Trump family has signed a deal with a Saudi Arabian real estate developer to build a series of luxury hotels and resorts in the country. The deal, which is worth several billion dollars, was signed by Donald Trump Jr. and Eric Trump, the sons of US President Donald Trump, during a recent visit to Saudi Arabia.
The Deal
The deal was signed with the Saudi Arabian company, The Middle East Development LLC, which is owned by billionaire Mohammed bin Salman. The agreement will see the Trump Organization manage and operate the hotels and resorts, while the Saudi Arabian company will provide the financing.
The first hotel is set to open in the city of Jeddah in 2020, with more hotels and resorts to follow in other parts of the country. The hotels will be designed to cater to both business and leisure travelers, and will feature luxury amenities such as spas, golf courses, and private beaches.
The Controversy
The deal has been criticized by some who see it as a conflict of interest for the Trump family, as the President has been a strong supporter of Saudi Arabia and has recently signed a $110 billion arms deal with the country. Critics argue that the deal could lead to the President being more lenient towards Saudi Arabia in matters of foreign policy.
However, supporters of the deal argue that it will create jobs and boost the economy in both the United States and Saudi Arabia. They also point out that the Trump Organization will not be investing any money in the project, and will simply be managing and operating the hotels.
The Future
The deal is just the latest in a series of business ventures for the Trump family, who have been criticized for using their political connections to further their own financial interests. However, the Trump Organization has defended its business practices, arguing that they are operating within the bounds of the law.
As for the future, it remains to be seen how successful the hotels and resorts will be, and whether the controversy surrounding the deal will have any lasting impact on the Trump family's reputation or business interests. Only time will tell.