Abdelrahman
On February 4, US President Donald Trump made remarks regarding Gaza that brought back a concept previously discussed by him and his son-in-law, Jared Kushner.
This recent approach reframes Gaza as a lucrative real estate opportunity instead of focusing on the humanitarian and political circumstances facing its residents. After stating that the US could “take ownership of the Gaza Strip,” Trump expressed,
“We have a unique chance to create something extraordinary. I’m not trying to be clever, but referring to it as the ‘Riviera of the Middle East’ could really mean something magnificent.”
These sentiments mirror comments made by Kushner during a Harvard University interview in February 2024, where he noted that Gaza’s prime waterfront could be “extremely valuable if the focus were on enhancing livelihoods.” He also indicated that, from Israel’s viewpoint, it might be best to “relocate the people and revamp the area.”
Continuing his discourse, Trump suggested on February 10 that Palestinians might not be able to return to Gaza, emphasizing that they would be provided “much better housing.”
This rhetoric underscores the fact that for Trump and his circle, the Middle East is as much an economic interest as it is a geographical one.
What are Trump’s business pursuits in the Middle East?
The Middle East has increasingly caught the attention of The Trump Organization, the real estate and hospitality empire now managed by Trump’s sons, Eric and Donald Jr.
In recent years, The Trump Organization has formed multiple alliances with Saudi Arabia’s Dar Global, the international wing of Dar Al Arkan Real Estate Development Company.
A high-end Trump-branded hotel and golf resort is in the works in Oman, while plans for two Trump Tower projects have been disclosed for Jeddah, Saudi Arabia, and Dubai, United Arab Emirates.
Previously, a Trump Tower in Dubai featuring a hotel and residential units was unveiled in October 2005, but it was scrapped in 2011 due to the global financial downturn.
As of 2017, Trump possesses a golf club in Dubai, established in partnership with DAMAC Properties led by Hussain Sajwani. In January 2025, this partnership was highlighted when Sajwani joined Trump at a press conference, where DAMAC announced a commitment of “at least” $20 billion (€19.39 billion) to develop new data centers across the US.
These new agreements in Oman, Jeddah, and Dubai will see The Trump Organization involved mainly in brand development and management, allowing the family to profit significantly through licensing their name.
Trump and his family have frequently emphasized the rising importance of the Middle East to their business operations.
Just before the announcement of the Jeddah project, Eric Trump remarked to the Financial Times that “We will absolutely pursue additional projects in this region. Its growth potential is explosive, and that trend shows no signs of slowing down.”
What is the role of Saudi Arabia?
In addition to partnerships with Dar Global, The Trump Organization has forged close ties with LIV Golf, a notable and sometimes controversial sports investment of the kingdom. The Trump Organization, which owns a number of golf courses globally, has received fees from LIV to host numerous tournaments at its US venues.
Simultaneously, Kushner’s private equity firm, Affinity Partners, distinct from The Trump Organization, has fostered strong relationships with Saudi Arabia and its sovereign wealth fund, known as the Public Investment Fund (PIF).
The PIF, chaired by Saudi Crown Prince Mohammed bin Salman, has invested $2 billion in Affinity, along with substantial contributions from other major Gulf investors, including the Qatar Investment Authority and Abu Dhabi’s Lunate asset management firm.
Kushner also holds important investments in Israel, specifically in Phoenix Holdings and the Shlomo Group.
Are there potential conflicts of interest for Trump?
These extensive business engagements have raised concerns regarding possible conflicts of interest for Trump in handling regional affairs.
Despite resigning from all operational roles within his business empire upon taking office in 2016, Trump’s family has remained significantly involved in his political ventures and campaigns, even while still engaging in business activities.
Kushner has utilized connections gained during his tenure as a senior advisor in the first Trump administration to enhance his investment pursuits in the Middle East. This practice has faced scrutiny, particularly concerning his close rapport with the Saudi royal family.
In early 2024, Kushner defended his actions in an interview with Axios, stating, “If you inquire about our work during the White House administration, I would ask critics to identify one decision made that wasn’t in America’s best interest.”
Does Trump genuinely perceive Gaza as a potential real estate opportunity?
Clearly, both Trump and Kushner are enthusiastic about conceptualizing Gaza as a real estate venture, rather than regarding it as a home for its over two million Palestinian residents.
“People from around the globe will be residing there,” Trump declared. “We can transform it into a spectacular international destination. The Gaza Strip holds immense potential.”
Trump’s remarks have sparked outrage among Palestinians and drawn swift rebukes from various governments worldwide. Doubts linger about the feasibility of such a vision on multiple fronts.
However, with The Trump Organization expanding its real estate interests in the area and the clear aspirations of both Trump and his son-in-law, it appears they are seriously considering this idea.
Edited by: Uwe Hessler
