Sheikh Yousef Al Shelash Oversees Trump Brand Partnership in Oman

0

On Nov. 20, Dar Al Arkan Real Estate Development announced that it had entered into a partnership with the Trump Organization for its Aida project. Sheikh Yousef Al Shelash is the company’s longtime chairman. As such, he must play an integral role in developing the $4 billion project in the Sultanate of Oman. According to the company, it’s “a place where all the noise is quiet to let your ideas compose a beautiful symphony.”

The Aida project will include a Trump brand golf course as well as a hotel and villas, including the one-of-a-kind hanging glass villas, which hang 100 meters over the shores of the capital city of Muscat. “We are doing all the [research and development] on engineering on suspending these pods from mountains. People have planted pods in the mountains, which is different,” said Yousef Al Shelash.

According to Dar Al Arkan, Aida is “a place where the cliffs cradle you to sleep, the waters inspire your next adventure, and the views leave you breathless. Immerse yourself in a charming mixed-use development project comprised of enchanting residences, amenities, and outdoor landscapes.”

The company didn’t share the financial terms of its deal with the Trump Organization, which oversees real estate, hotels, and golf courses worldwide. However, it explained that the Oman project is expected to take a decade to complete.

Yousef Al Shelash: ‘The Aida Project Is an Engineering First’

As part of the Aida project, the hanging suites offer uninterrupted, panoramic views that must be seen to be believed. These suites are a feat of engineering, and, according to Yousef Al Shelash, the real estate development company is up to the task. “Engineering-wise, Dar Al Arkan is proud to say that this has never been done before,” said Al Shelash. “We’re doing them at the level of a five-star hotel.” 

He said that the architect who designed the pods is amazed that Dar Al Arkan is working on ways to suspend them. However, the pods aren’t the only fantastic amenity to explore at the Aida project, 20 minutes from downtown Muscat. 

The Aida checks all the boxes for those looking for a once-in-a-lifetime experience. The real estate development company stated, “In between cliffs, where nature is left undisturbed, are the nature-bound villas. Each villa is interconnected through winding pathways, [and] private. The villas are built to ensure absolute peace of mind and a continuous waterfall of inspiration.”

The project comprises 3,500 residential units ranging from mid-size villas and low-rise apartments to town houses. Al Shelash has been the company’s CEO since it was founded in 1994. Dar Al Arkan Real Estate Development states that the Aida project is “a place where two charming hotels, a plaza filled with cafes and restaurants, a gated promenade, luxury retail and wellness centers, and gorgeous outdoor landscapes await.” Between the two hotels, there will be 450 hotel rooms.

Trump Brand’s Experience in the Middle East

Former U.S. President Donald Trump handed over control of his company to his grown children when he took office in 2016. However, the Trump Organization is no stranger to the Middle East. The Trump brand has two golf courses in Dubai, United Arab Emirates, through a partnership with the Damac property developer.

Previously, the Trump Organization has licensed the Trump name in Indonesia, India, Panama, Canada, Turkey, the Philippines, and Indonesia. It also owns golf courses in Ireland and Scotland. 

Expansion Expectations: How the Real Estate Development Company Is Building a Global Brand 

“Dar Al Arkan is a global brand,” said Yousef Al Shelash. He earned a Master of Science in law and legal proceedings from the Institute of Public Administration in Riyadh, Saudi Arabia. Al Shelash also attended Imam Mohammad Ibn Saud Islamic University in Riyadh, earning a Bachelor of Science in Shariah. Additionally, he received diplomas in combating financial crimes and banking and has undergone extensive training in financial management and evaluation of investment projects. 

Since 1994, he’s been focused on showing the world that he and the company reflect and uphold strict Saudi values. So how does he accomplish this? “By delivering on the promise, delivering on the quality, and delivering on time,” he said. “This is what we are trying to do very actively in our real estate projects outside Saudi Arabia.” 

The first project that Dar Al Arkan worked on outside of Saudi Arabia was the Urban Oasis, a luxury residential tower in Dubai. Al Shelash also leads the company through expansions in Qatar, Spain, and the United Kingdom. 

In February 2022, the real estate development company opened its first office in China. “It is the best time to enter the Chinese market now because the valuations are very attractive, and the Chinese government in many cities is giving a lot of incentives for international developers to enter the market,” stated a spokesperson for the company.

The Beijing office is intended to facilitate collaboration between Saudi Arabia and China. It will be a hub for Chinese investors and companies looking to expand and invest in Saudi Arabia. 

“By providing access to required information, permits, legal and financial knowledge, as well as support on partnerships and other requirements, Dar Al Arkan is making entry into the Kingdom more accessible,” stated the company. “Likewise, the office will support Saudi Arabian companies to explore expansion opportunities and gain entry into the Chinese market. Furthermore, [the company] will encourage other areas for mutual collaboration, especially in tourism and cultural exchanges.”

Under Yousef Al Shelash’s leadership, the company has introduced new technologies, including 3D concrete printing, and has elevated the real estate and technology categories in the Kingdom and beyond. Dar Al Arkan “started with small, small projects,” explained Al Shelash. “The market growth definitely helped a lot, and eventually, we took the real estate development company public in 2007.”

One of the most significant driving forces behind Al Shelash’s business decisions is the betterment of families. He said that he’s “not only fulfilling a commercial target by generating for the shareholders of the company that requires right of return, but because they are in real estate, they are also involved in building cities, communities, and families. So I am building homes.”

Current trends show that families are looking for apartments. “In the middle economic classes, we have seen a shift from stand-alone houses to apartments because real estate is becoming more expensive,” said Al Shelash. “Perhaps you have to move from a villa into an apartment. But, at the same time, utilities are becoming more expensive, and the utility bills of a villa are totally different from an apartment.” This is a significant change from 15 years ago when “you would not see any Saudi national living in an apartment,” noted Al Shelash. However, now “that has become an acceptable way of living,” he said.