Trump Org, Saudi partner Dar Global launch crypto scheme for Maldives resort
The deal marks a notable fusion of the Trump family’s traditional real estate business and its expanding foothold in the crypto world, and arrives a day before Saudi Arabia's Crown Prince arrives in Washington.
The Trump Organization and Saudi-affiliated luxury developer Dar Global unveiled plans on Monday for the Trump International Hotel Maldives in what they describe as the world’s first “tokenized” hotel development.
The deal, which will use blockchain tech to lure investors, marks a notable fusion of the Trump family’s traditional real estate business and its expanding foothold in the crypto world.
The timing of the press release is also hard to miss. The announcement comes one day before Saudi Crown Prince Mohammed bin Salman’s high-stakes visit to Washington, which is expected to deliver splashy commercial deals as the kingdom’s de facto ruler pursues strategic priorities including US defense guarantees and artificial intelligence.
Details: The new resort will bring the Trump brand to the Maldives for the first time in partnership with Dar Global, the international arm of Saudi developer Dar Al Arkan.
