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Dar Global, Trump eye Saudi megaprojects

Gulf economies saw major moves this week, from new Trump-linked real estate ventures to multibillion-dollar logistics, energy, and consumer investments.

Former U.S. President Donald Trump leaves after addressing members of the media following the verdict in his hush-money trial at Trump Tower on May 31, 2024 in New York City. A New York jury found Trump guilty Thursday of all 34 charges of covering up a $130,000 hush money payment to adult film star Stormy Daniels to keep her story of their alleged affair from being published during the 2016 presidential election. Trump is the first former U.S. president to be convicted of crimes.

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The Gulf dominated business news in the Middle East this week. Dubai-headquartered Dar Global is exploring more real estate projects under the Trump family brand while US asset manager Blackstone and Abu Dhabi’s Lunate are setting up a $5 billion logistics platform in the region. Kuwait opened a new bidding round for a major solar project and an Emirati sovereign wealth fund scooped up a stake in the ice cream market.

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