Donald Trump's anti-Muslim remarks could hurt his business interests in the Middle East
The comments are having a very real impact on his business interests in the Middle East
When Donald Trump called for a complete ban on Muslims entering the US, he may have just been doing it for publicity.
But the comments are having a very real impact on his business interests in the Middle East.
Landmark Group, one of the biggest Middle Eastern retail companies headquartered in Dubai, said that it would no longer be stocking products from the Trump Home decor range in its Lifestyle stores.
Trump has a number of other business interests in the Middle East that could now be in jeopardy. The FT deduced from public filings of interests as part of the presidential campaign that the following is at stake:
- Between $1 million and $5 million a year: licensing his brand to the Trump Towers Istanbul developments in Turkey.
- $2.5 million licenceing his brand to the Trump Hotel and Tower in Baku, Azerbaijan.
- "Multiple opportunities in Dubai, Abu Dhabi, Qatar, Saudi Arabia," touted by Trump's daughter Ivanka, who is in charge of acquisitions for him. In May, Ivanka told Hotelier Middle East magazine in May that Trump Hotels were looking at "many very compelling deals in each of them".
- Less than $15,000: the value of "management company" DT Dubai Golf Manager.
- Office rented by Qatar Airways in Trump Tower on Fifth Avenue.
Trump lent his name to a set of holiday apartments within a gated community in Dubai. A Damac salesman told the FT that six of the first 50 Trump-branded villas were still available, with a five-bedroom property advertised at $1.8m, but that they would be offering customers better rates in light of Trump's statement.
Trump made the remarks on December 7 following a fatal shooting at San Barnardino in Carlifornia in which 14 people died.
He later repeated them on board a Second World War carrier vessel, telling the crowd: “We need a total and complete shutdown of Muslims entering the United States while we figure out what the hell is going on.”
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