{"id":40499,"date":"2017-01-12T22:29:48","date_gmt":"2017-01-12T15:29:48","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=40499"},"modified":"2017-01-12T19:39:50","modified_gmt":"2017-01-12T12:39:50","slug":"damac-confirms-trump-turned-down-dh7-3bn-of-new-deals","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/damac-confirms-trump-turned-down-dh7-3bn-of-new-deals\/","title":{"rendered":"Damac confirms Trump turned down Dh7.3bn of new deals"},"content":{"rendered":"


\nDubai-based developer Damac has confirmed that it had a US$2 billion offer to extend its working relationship with The Trump Organization rebuffed by US president-elect Donald Trump.A spokesman for Damac confirmed that “discussions took place as stated in the media briefing [given by Mr Trump on Wednesday] but the proposals were declined by the Trump Organization”.”These proposals were for a variety of different properties deals,” the spokesman added.In his first press briefing for 167 days ahead of his inauguration ceremony next week, Mr Trump announced that his business interests would be held in a trust run by his sons Don and Eric, and added there would be no new foreign deals for the duration of his presidency.Mr Trump said that he understood the dangers of a conflict of interest and had rejected a potential deal with Hussein Sajwani, the Damac chairman, whom he described as a good friend.”Over the weekend, I was offered $2bn to do a deal in Dubai … a number of deals. And I turned it down,” he said.Mr Trump also sought to place distance between his organisation and Russia, stating that he had “no dealings … no deals … and I have no loans with Russia.”I thought that was important to point out,” said Mr Trump. “We could make deals in Russia very easily, if we wanted to, I just don’t want to because I think that would be a conflict.”Mr Trump has agreed several licensing deals with Damac over the past few years, and had previously agreed a joint venture with Nakheel for a tower on Palm Jumeirah that was never built.Damac announced its first deal with the Trump Organization in May 2013, when Mr Trump and his daughter Ivanka attended a launch event in Dubai to announce a Trump International Golf Club would be built at the 28 million square feet Akoya by Damac masterplanned community. Work on the course is almost complete and it is set to open in February.Subsequent extensions have involved Trump-branded villas also being built at Akoya by Damac, and in December 2014 a second Trump World Golf Club venture was agreed at the 55 million Akoya Oxygen development, featuring a course designed by Tiger Woods.The partnership became slightly more controversial during Mr Trump’s run for the presidency, when in December 2015 he gave an interview with Fox News stating that he would consider closing down mosques in the wake of terrorist attacks in France a month earlier. In the same week, he also threatened a “total and complete shutdown” of US borders on security grounds to Muslims attempting to enter the country.However, even at the height of the controversy, Trump-branded signs were reinstated 24 hours after being taken down and Damac chairman Mr Sajwani has remained on good terms with the president-elect, earning praise from Mr Trump at a private New Year’s Eve function held at Trump’s Mar-A-Lago resort in Florida two weeks ago.mfahy@thenational.aeFollow The National’s Business section on Twitter
\n
\nSource : thenational.ae
\nRead more…Damac confirms Trump turned down Dh7.3bn of new deals<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Dubai-based developer Damac has confirmed that it had a US$2 billion offer to extend its...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-40499","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-axd","jetpack-related-posts":[{"id":432,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubais-damac-looks-to-shake-off-trump-storm-with-rental-incentive\/","url_meta":{"origin":40499,"position":0},"title":"Dubai’s Damac looks to shake off Trump storm with rental incentive","date":"December 17, 2015","format":false,"excerpt":"\r \r Damac Properties, the developer caught in a storm over its partnership with the controversial US presidential hopeful Donald Trump, is offering lucrative rental returns on some of its properties to lure investors.Damac, which said it would stick with Trump International despite his anti-Muslim tirade, is providing a 24\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":47327,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/damac-awards-dh1-4-billion-in-contracts-in-first-two-months-of-2017\/","url_meta":{"origin":40499,"position":1},"title":"Damac awards Dh1.4 billion in contracts in first two months of 2017","date":"March 9, 2017","format":false,"excerpt":"\r Damac Properties has awarded 121 construction contracts in the first two months of the year with a combined value of Dh1.4 billion.The developer said that the awards include main contract packages at five of its sites - Akoya Oxygen, Damac Hills, Aykon City and at two new towers in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":24222,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/damac-chairman-says-2016-profit-in-line-with-last-year\/","url_meta":{"origin":40499,"position":2},"title":"Damac chairman says 2016 profit in line with last year","date":"August 28, 2016","format":false,"excerpt":"\r Hussain Sajwani, the chairman of the Dubai developer Damac, said the company's profit for this year was likely to be in line with the Dh4.5 billion it achieved last year.In an interview with the Arabic newspaper Al Khaleej, Mr Sajwani also said that the company had achieved about Dh7.88bn\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":40515,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubais-damac-confirms-talks-with-trump-organisation-but-property-deal-rejected\/","url_meta":{"origin":40499,"position":3},"title":"Dubai's Damac confirms talks with Trump Organisation, but 'property deal rejected'","date":"January 12, 2017","format":false,"excerpt":"\r US President-elect says he has turned down a $2bn development deal in the emirate\r \r Source : arabianbusiness.com\r Read more...Dubai's Damac confirms talks with Trump Organisation, but 'property deal rejected'","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":223,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/damac-offers-3-year-rental-guarantee-amid-trump-anti-muslim-furore\/","url_meta":{"origin":40499,"position":4},"title":"Damac offers 3-year rental guarantee amid Trump anti-Muslim furore","date":"December 20, 2015","format":false,"excerpt":"\r Dubai developer says wants to reassure investors of stable growth\r \r Source : arabianbusiness.com\r Read more...Damac offers 3-year rental guarantee amid Trump anti-Muslim furore","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5302,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/damac-to-build-luxury-flats-with-car-lifts-next-to-dubai-canal\/","url_meta":{"origin":40499,"position":5},"title":"Damac to build luxury flats with car lifts next to Dubai Canal","date":"February 21, 2016","format":false,"excerpt":"\r \r The property developer Damac is building new luxury flats next to the Dubai Canal, each with their own car lifts. The six-tower, 4 million square foot project, Aykon City, will be built on Sheikh Zayed Road. In the 2012 US presidential election, Mitt Romney's wealth raised eyebrows when\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/40499"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=40499"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/40499\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=40499"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=40499"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=40499"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}