Saudi developer wants to sell Trump hotel tokens to US retail investors
Dar Global is in talks with The Trump Organization about the crypto aspects of the Maldives project
[LONDON] Saudi luxury real estate developer Dar Global hopes to fund much of its latest Trump hotel in the Maldives by selling blockchain-based crypto tokens to US retail investors, its CEO told Reuters on Tuesday (Nov 18).
London-listed Dar Global is one of The Trump Organization’s main overseas partners, with seven projects under development including an 80-storey tower in Dubai, a golf resort in Qatar and hotels and high-end homes across Saudi Arabia and Oman.
Developers typically tap institutional investors or wealthy family offices for the cash to fund large-scale projects, but Dar Global CEO Ziad El Chaar said in an interview in London that it hoped to fund up to 70 per cent of its latest Trump International Hotel in the Maldives by selling tokens to retail investors.
“We would like to ... tokenise 70 per cent of that development fund to as many token holders as possible,” said El Chaar, adding: “The biggest crypto market and the biggest amount of investors are in the US.”
Dar Global is in discussions with US regulator the Securities and Exchange Commission (SEC) on the matter and is exploring options in other unspecified countries, a spokesperson for the company told Reuters.
Dar Global is also in talks with The Trump Organization about the crypto aspects of the Maldives project, the spokesperson added.
The Trump Organization did not immediately respond to a request for comment on the matter.
The SEC declined to comment.
The family of President Donald Trump has built huge crypto business ventures since he returned to power, prompting criticism from government ethics experts and political opponents who say his stance raises concerns about potential conflicts of interest.
The Trump family raked in more than US$800 million from sales of crypto assets in the first half of 2025 alone, a Reuters examination found last month.
The White House has repeatedly rejected accusations of conflicts of interest, noting that Trump handed over management of the assets before he returned to power.
The Maldives hotel will be a 25-minute speedboat ride away from the country’s capital Malé and feature around 80 ultra-luxury beach and overwater villas, Dar Global and The Trump Organization said on Monday, adding it was expected to open by the end of 2028.
Construction on one of Dar Global’s most high-profile Trump-branded projects, the tower in Dubai announced in April, could start on site as early as this week, El Chaar said.
El Chaar added that he was not concerned about any additional scrutiny resulting from Dar Global’s relationship with The Trump Organization. “Obviously, with the Trump brand, you have the politics involved, but from our side, this is not our domain,” he added.
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