Eric Trump, executive vice president of the Trump Organization, has unveiled ambitious international expansion plans for the family’s real estate firm, aiming for new projects across Europe, Vietnam, India, and potentially Saudi Arabia, while signaling a cautious approach to certain regions, Bloomberg reports.
These plans come as his father, President Donald Trump, prepares for a second term in office.
In interviews this week in Abu Dhabi and Riyadh, Eric Trump emphasized a strict separation between the Trump Organization’s business dealings and the incoming administration. “I shield myself off from the White House and the administration,” he stated. “My father has nothing to do with the company and I have nothing to do with Washington D.C.” This assertion, however, is likely to face close scrutiny from ethics watchdogs and critics, given the President’s continued ownership of the company and the involvement of his sons in its management.
Trump’s recent Middle East tour included attending a cryptocurrency conference, overseeing the launch of a Trump Tower in Jeddah, and exploring potential development sites in Riyadh. He highlighted the region’s booming property market, particularly in Dubai and Saudi Arabia, as ripe for investment. “We’ll be doing a lot more projects in the Gulf,” he said, citing the region’s encouragement of large-scale development.
However, Trump indicated that some regions are off-limits for expansion. He ruled out projects in China and Russia, citing “macroeconomic and geopolitical forces.” This statement comes against a backdrop of strained US relations with both countries: ongoing trade tensions with China and international sanctions against Russia following its invasion of Ukraine.
Regarding Israel, where a year of conflict has recently concluded, Trump indicated a willingness to pursue projects “when the tensions cool.” He stressed that all future deals would involve private companies.
