“Trump Signature Villas” in AIDA, Oman were unveiled by Dar Global, a luxury real estate development company. This project is a strategic collaboration with The Trump Organization.
What Happened: Dar Global announced on Wednesday its plans for the “Trump Signature Villas” at AIDA, one of Oman’s largest urban developments, a result of a strategic alliance with The Trump Organization to establish a signature Trump community.
AIDA is touted as a mixed-use community spread over 37,670,000 square feet where residents have access to full golf membership at the Trump International Golf Club.
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The starting price for these upcoming villas is AED 1,350,000 ($367,557), according to the community’s website. However, larger mansions are going for a more heftier price tag of AED 25-30 million ($6.8 to $8.1 million).
The villas, priced at $200 million in the initial phase, are designed to epitomize luxury living. They are situated within the Trump International Golf Club Oman, providing residents with stunning sea views and access to top-tier amenities.
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“In collaboration with Dar Global, at AIDA, we’ve discovered an incredible location in the heart of Muscat, Oman, offering breathtaking sea views. Together, we are setting a new standard for luxury living,” stated Eric Trump, Executive Vice President of The Trump Organization.
Ziad El Chaar, CEO of Dar Global, commented, “The strategic partnership between Dar Global and The Trump Organization aligns with Dar Global’s vision of regional and global expansion through unique, high-quality developments.”
Why It Matters: This announcement follows a $4 billion deal inked between The Trump Organization and Dar Al Arkan Global Company, a Saudi Arabian real estate developer, in November 2022.
It should be noted that Dar Global is an independent international development subsidiary of Dar Al Arkan.
The deal included the construction of Trump residential villas, a hotel, and a golf course in Oman, marking a significant expansion of The Trump Organization’s footprint in the Middle East.
However, the Trump brand has faced challenges. In February, Donald Trump was fined $354.9 million for fraudulently overstating his net worth to secure better loan conditions. This ruling also banned Trump from serving as an officer or director in any New York corporation for three years.
Recent analyses indicate a decline in the value of Trump-branded condos in Manhattan, suggesting a waning appeal of his name among affluent buyers.
Legal controversies, including lawsuits alleging fraud, have further tarnished the Trump brand, leading to significant drops in property values. While Trump’s global properties remain unassessed, the Manhattan real estate market paints a grim picture, according to a previous report.
Image via Shutterstock
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