Trump Announces Location of New Tower in the Middle East Amid Crypto Scheme Controversy

Donald Trump, the President, is extending his real estate holdings to Dubai to further cement his connections in the Middle East through a significant cryptocurrency deal.

Eric Trump, the son of Trump, recently introduced the Trump International Hotel & Tower in Dubai, showcasing a sophisticated 80-story building with the world’s highest pool.

The opulent new property is set to be finished by the conclusion of 2031, featuring a mix of hotel rooms for tourists and apartments for residents.

According to The Independent, prices for a two-bedroom apartment will start at $1million, and include a 10 year ‘golden visa.’

It is unclear what the ‘golden visa’ will afford cardholders, but back in February Trump said he would like to sell ‘gold card’ visas for $5million, offering wealthy buyers residency in the United States.

The announcement of Trump’s first high rise building in the region comes as he is slated to visit Saudi Arabia, the United Arab Emirates and Qatar later this month.

And a firm linked to the ruling family of the UAE announced they had chosen a stablecoin launched by Trump’s sons Eric and Don Jr., USD1, to complete a $2billion crypto exchange deal with Binance.

The announcement has raised concerns about whether such a deal would amount to a conflict of interest for the President, but his office has repeatedly insisted that the Trump businesses are run by his children, eliminating the risk.

The deal was announced at the Token2049 crypto conference in Dubai by Zach Witkoff, son of Trump’s Middle East envoy and close friend, Steve Witkoff.

Zach is the co-founder of World Liberty Financial, a business owned by a Trump family entity. Eric Trump also has a prominent role in the business.  

Trump has been transparent about his desire to make America the ‘crypto capital of the planet.’ 

He promised to be the ‘crypto president,’ who will popularize its mainstream use in America, despite once being a crypto skeptic himself who described bitcoin as a ‘scam.’

He has said he backs crypto because it can improve the banking system and increase the dominance of the US dollar.

At the same time the Trump family, long known for skyscrapers and country clubs, rapidly gained hundreds of millions of dollars through their crypto investments.

Both the new skyscraper and the crypto deal mark the latest sign of strengthening ties between the United States and the UAE.

Renderings of the new skyscraper show a stunning oasis with sweeping views over Dubai, including the famed Burj Khalifa.

The tower will boast a private members club called The Trump with even further exclusive benefits.

Eric Trump said: ‘Trump International Hotel & Tower, Dubai is a project that reflects our unwavering commitment to excellence, luxury and innovation.’

‘Dubai is a global destination that shares our vision for iconic development, and we’re proud to expand the Trump brand in one of the most dynamic cities on earth.’

The five star location will offer one, two and three bedroom apartments, along with duplex penthouses with four bedrooms. 

Trump already has luxury hotels across the United States, Scotland and Ireland.

He announced in 2024 plans to build another in Vietnam.