The Trump Organization is planning a US$300 million luxury resort in the Maldives in partnership with a Saudi Arabian developer and intends to tokenise the hotel development project.
Trump International Hotel Maldives will feature 80 ultra-luxury beach and overwater villas and will be built in collaboration with Dar Global.
Bloomberg reported that the deal will also mark “the launch of the world’s first tokenised hotel development tied to the project.”
Tokenisation uses blockchain technology to issue and transfer traditional assets, such as property ownership, and divides them into digital shares that investors can purchase as tokens.
Dar Global’s Chief Executive, Ziad El Chaar, said the company is planning to sell tokens in a fund developing the project, which could offer investors greater upside compared with tokens in a completed development.
He added that the total development value of the Maldives project is around US$300 million, with Dar Global retaining 30-40% ownership.
In a previous interview, El Chaar explained that Dar Global’s partnerships with the Trump Organization on other projects generally involved brand fees as well as a portion of revenue from sales, while Dar Global finances construction and land acquisition.
The latest initiative follows US President Donald Trump and his family’s expansion into the global crypto space.
Trump has issued executive orders supporting the industry, and the United States has recently passed legislation on stablecoins.
Dar Global, a London-listed subsidiary of a Saudi Arabian developer, aims to open the Maldives resort by the end of 2028.
It will be 25 minutes by speedboat from the capital, Malé.
“The project tokenises the development phase itself, offering investors the opportunity to participate in a high-growth, premium real estate project from inception,”
the companies said.
The Maldives development adds to a series of projects undertaken by the two firms under the Trump name, most of which are in the Gulf region, including Trump Towers in Jeddah and Dubai, as well as resorts, luxury homes and golf courses in Qatar and Oman.
Featured image credit: Edited by Fintech News Switzerland, based on image by Who is Danny and EyeEm via Freepik
