In Trump's words, the Gaza Strip could become something phenomenal - the "Riviera of the Middle East". The president and his family have long had serious business interests in real estate deals in the region. What is known?
US President Donald Trump's vision for Gaza revives an old idea of his - he has previously spoken about the Gaza Strip and the opportunities that may open up there in the future. We also remember how his son-in-law Jared Kushner agreed with him.
Trump's plan emphasizes the business potential that the Gaza Strip holds, rather than the humanitarian or political side of the issue. In the words of the American president, the United States would "conquer the Gaza Strip" and "own it". And further: "We have the opportunity to do something phenomenal. The "Riviera of the Middle East" could be something so magnificent.
What are Trump's business interests in the Middle East?
This echoes his son-in-law Kushner's 2024 thesis, expressed in an interview with Harvard University. It spoke of the Gaza coast as something very valuable, "if people focus on building a livelihood." In this regard, Trump added that he would do everything possible to "move the people out and then clean up" the area, which also corresponded to Israeli views. Trump even said to Fox News that Palestinians would not have the right to return to Gaza because they would have better housing elsewhere. This shows that Trump and his family think of the Middle East mainly in terms of their business ambitions.
The region is gaining increasing importance for the Trump Organization - the real estate and hotel conglomerate currently managed by Trump's sons, Eric and Donald Jr. In recent years, they have struck several deals with Saudi real estate company Dar Global, a division of the even larger real estate player Dar Al Arkan.
A luxury hotel and golf resort under the brand "Trump" in Oman is under development, and the Trump Organization and Dar Global have announced plans for two "Trump Tower" projects - in Jeddah, Saudi Arabia, and in Dubai, United Arab Emirates. The previous project for a skyscraper "Trump" in Dubai with a hotel and apartments failed and was canceled in 2011 due to the global financial crisis.
The "Trump" brand
Trump already owns a golf club in Dubai, which has been operating since 2017. It was built in partnership with DAMAC Properties, managed by Hussein Sajuani. Last month, he appeared alongside Trump at a press conference to announce that his company would invest “at least” $20 billion in new data centers in the United States.
The new projects in Oman, Jeddah and Dubai will see the Trump Organization design, manage and brand the skyscrapers and luxury resort. The deals are largely about branding, not ownership, with the family earning millions from the use of the “Trump” brand name.
Trump and his family, from Kushner to his sons, have repeatedly touted the growing importance of the Middle East to their business interests. Shortly before the Jeddah deal was announced, Eric Trump told the British “Financial Times“: “We will certainly implement other projects in this region, which is characterized by explosive growth that is not going to stop anytime soon“.
And Saudi Arabia?
Saudi Arabia, a key US ally in the Middle East, is increasingly central to the Trump family's interests in the region. In addition to Dar Global, the Trump Organization also works closely with LIV Golf, a sports investment that is as much praised as it is controversial. The Trump Organization has already received money from LIV Golf to host several tournaments at its golf courses in the United States.
Meanwhile, Kushner’s own private equity firm, Affinity Partners, which is separate from the Trump Organization, has close ties to Saudi Arabia and its Public Investment Fund (PIF).
The PIF, which is chaired by Saudi Crown Prince and de facto ruler Mohammed bin Salman, has invested $2 billion in Affinity. Several other major Gulf investors have also put money into Kushner’s project, including the Qatar Investment Authority and Abu Dhabi-based asset manager Lunate. Trump’s son also has significant investments in Israel, notably in insurance company Phoenix Holdings and the Shlomo Group.
Is there a conflict of interest?
These broad business interests have raised concerns about potential conflicts of interest. Although Trump stepped down from all executive positions in his business organization when he was first elected president in 2016, his family continues to play a role in his political and campaign work – along with his business.
Meanwhile, Kushner has been using the connections he made during his previous role as an adviser to Trump’s first administration to build his investment portfolio in the Middle East. This has drawn sharp criticism, particularly for his close ties to the Saudi royal family.
In early 2024, he defended himself in an interview with the American news website Axios: “When it comes to the work we've done in the White House, let my critics show me at least one decision we made that wasn't in America's best interest.“
Gaza - a potential deal?
Does Trump really see Gaza as a potential real estate deal? Both Trump and Kushner are clearly enamored with the idea of developing Gaza as a real estate project, not as a home for more than 2 million Palestinians. “People from all over the world will live there. Make it an international, incredible place. The potential of the Gaza Strip is incredible,“ Trump claims.
But his plan has met fierce resistance from the Palestinians and has been condemned by many governments around the world. There are also huge doubts about its feasibility. However, given the Trump Organization's growing real estate interests in the region and the unequivocal comments from Trump himself and his son-in-law, it appears that at least two people are taking the idea very seriously.