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The Trump Organization is in talks that could bring a Trump-branded property to one of Saudi Arabia’s largest government-owned real estate developments, according to the chief executive of the Saudi company leading the development.
The negotiations are the latest example of Mr. Trump blending governance and family business, particularly in Persian Gulf countries. Since returning to office, the president’s family and businesses have announced new ventures abroad involving billions of dollars, made hundreds of millions from cryptocurrency, and sold tickets to a private dinner hosted by Mr. Trump.
Mr. Trump is set to host Crown Prince Mohammed bin Salman, Saudi Arabia’s de facto ruler, in Washington next week.
The prince is overseeing a $63 billion project that is set to transform the historic Saudi town of Diriyah into a luxury destination with hotels, retail shops, and office space. The Trump business has a history of lending its name to mixed-use projects touting “iconic luxury.”
“Nothing announced yet, but soon to be,” Jerry Inzerillo, chief executive of the Diriyah development and a longtime friend of President Trump, said in an interview. He said it was “just a matter of time” before the Trump Organization sealed a deal.
Saudi officials toured the Diriyah development with Mr. Trump during the president’s official state visit in May, with the goal of piquing his interest in the project, Mr. Inzerillo said.
“It turned out to be a good stroke of luck and maybe a little bit clever of us to say, ‘OK, let’s appeal to him as a developer’ — and he loved it,” Mr. Inzerillo said.
Next week, Prince Mohammed is expected to make his first visit to the United States in seven years. He hopes to sign a mutual defense agreement with Washington and potentially advance a deal to transfer American nuclear technology to Saudi Arabia.
That sets up a scenario in which Mr. Trump discusses matters of national security with a foreign leader who is also a key figure in a potential business deal with the president’s family.
Deal-making and diplomacy are increasingly intertwined for Mr. Trump and his family members. Some have engaged in business talks around the world in tandem with his statecraft, mingling profit-making ventures with political relationships.
Diriyah is one of several ongoing Saudi developments that are so big that officials call them “giga-projects.”
The Trump Organization did not respond to questions about the potential deal, nor did Eric Trump, one of Mr. Trump’s two sons overseeing the family business. It can be hard to separate hype from reality in international real estate discussions. Speculation doesn’t always lead to negotiations, and negotiations don’t always end in signed contracts.
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