Dar Global Leverages Crypto Tokens to Fund Trump Maldives Hotel

Saudi real estate firm Dar Global plans to fund its new Trump hotel in the Maldives by selling blockchain-based crypto tokens to U.S. investors. Discussions with the SEC are underway. The ultraluxury property will feature 80 villas, and construction on a Trump-branded tower in Dubai is imminent.

Dar Global, a Saudi luxury real estate developer, is venturing into the digital financial realm to finance its latest Trump hotel in the Maldives by selling blockchain-based crypto tokens to U.S. retail investors, as announced by CEO Ziad El Chaar in a recent interview with Reuters.

The London-listed company, known for its international collaborations with The Trump Organization, aims to fund up to 70% of its new property through retail investments. This move exemplifies a shift from the typical reliance on institutional investors for such large-scale projects.

The project, carefully monitored by the U.S. Securities and Exchange Commission, represents a unique blend of real estate and cryptocurrency, fostering discussions about conflicts of interest, especially with the Trump family's growing crypto ventures.

(With inputs from agencies.)