Saudi Developer To Build Trump-Branded Hotel And Golf Complex In Oman

The Trump family agreed to license its name to a hotel and golf complex that will be developed in Oman, on the southeastern coast of the Arabian Peninsula. 

Dar Al Arkan, a major developer based in Saudi Arabia, is planning to build the property in Muscat, Oman, on a hillside overlooking the Gulf of Oman. The development will include a golf resort, villas and two hotels, The New York Times reports.

The deal is the first international marketing agreement that The Trump Organization has inked since former President Donald Trump left office last year. The parties involved haven't disclosed how much the deal is worth.

During his time in office, the company did not sign any new agreements of this kind, though licensing the Trump name was a major source of revenue before his presidency.

The deal comes at a time when the Trump Organization is enmeshed in legal challenges. Early this month, a New York judge ordered an independent monitor to oversee the finances of the company, temporarily blocking it from selling or transferring assets without permission.

The injunction is the latest development in the $250M civil fraud suit that New York Attorney General Letitia James filed against the company in September.

The suit accuses the company of lying about values of its property to obtain loans and avoid taxes. James wants the court to permanently ban Trump and his three children from serving as an officer or director of any business entity registered or licensed in New York state.

Also in early November, the criminal trial of two companies owned by Trump began in New York State Supreme Court. The two entities, Trump Corp. and Trump Payroll Corp., are charged with criminal tax fraud, falsifying business records and filing false tax returns.