02 January 2017

By Shane McGinley


Dubai developer Damac Properties is looking to expand its business ties to the Trump brand, its chairman said just days before Donald Trump’s inauguration on January 20 as the 45th president of the United States.

Damac, which is listed on the Dubai and London stock exchanges, already has strong links with the Trump Organization through two golf courses at its Akoya real estate development, the first of which is expected to open during the final quarter of 2017. Last week, the developer announced the sales launch of new villas near one of the Trump golf courses. Read more here.

Damac’s chairman Hussain Sajwani said in an interview with NBC News that he was interested in expanding his business ties to the Trump Organization, especially with Trump’s daughter Ivanka.

"All his three children are very much involved, and I think under their leadership we will have no issue in expanding and growing and maintaining our business relation," Sajwani was quoted as saying.

"My wife and Ivanka are very good friends," he added. "They send emails. She's been here to my house. We've been in New York having lunch and dinners with them regularly. And, you know, you enjoy working with somebody — it's not only cold business relation."

While Sajwani said the company’s association with the Trump brand was good for business, no new deals have yet been discussed.

"Naturally, I think we will benefit from the strength of the brand going forward…. We haven't discussed anything… I would love to enhance the relation with the Trump Organization."

Amid accusations of a conflict of interest when he enters the White House, Trump announced in a series of Twitter posts last month that he would not be signing any new commercial deals after his inauguration and his sons would be taking over the running of his businesses.

Trump also shut down some of his companies, including four linked to potential business deals in Saudi Arabia, the Associated Press reported last month. Read more here.

© Zawya 2017