logo
How the idea for a Trump Tower in Damascus was born

How the idea for a Trump Tower in Damascus was born

Yahoo25-05-2025
Forty-five storeys tall, a potential $200m (£150m) price tag and 'Trump' emblazoned in gold across its crown – this is Trump Tower Damascus, a gleaming monument meant to usher war-torn Syria back on to the international stage.
As the gold lettering suggests, the flashy building was designed to attract attention: the US president's attention.
'This project is our message – that this country, which has suffered and whose people have been exhausted for many years, especially the last 15 years of war, deserves to take a step towards peace,' said Walid Mohammad al-Zoubi, chair of the UAE-based Tiger Group, valued at $5bn, which is developing Trump Tower Damascus.
The construction of the tower was proposed in an effort to woo the US president as Syria's new government has sought the removal of US sanctions and a normalisation in relations with Washington. It came alongside an offer to provide the US with access to Syrian oil and investment opportunities, as well as guarantees for Israel's security.
Syria had been under US sanctions since 1979, which intensified after 2011's deadly crackdown on peaceful protesters by Syria's then-president, Bashar al-Assad. Despite the ousting of Assad in December by rebels, the US maintained sanctions against the country, wary of the new Islamist-led government.
Syria's proposal, along with prodding by the de-facto leader of Saudi Arabia, Crown Prince Mohammed bin Salman, succeeded. Last week, Trump announced an end to all US sanctions on Syria and met the Syrian president, Ahmed al-Sharaa, calling him an 'attractive' and 'tough' man.
Now, with the lifting of sanctions and ties with Washington strengthening, Trump Tower can move off the page and into reality. Zoubi is heading to Damascus this week to formally apply for building permits for the high-rise.
'We're looking at several locations. We're proposing 45 floors, subject to increase or decrease depending on planning,' said Zoubi, adding that the cost of building the commercial tower would be between $100m and $200m.
After he receives the building permit, Zoubi will need to approach the Trump brand for franchising rights. Images shared with the Guardian of the building mock-up do not include the Trump logo, as franchise permission is still being sought.
Construction, he estimated, would take three years once he received the legal approvals from the Syrian government and rights from the Trump business organisation.
Still, obstacles remain, as the process of sanctions removal is still unclear, while Syria's devastated economy and fragile political environment could complicate the project.
The Syrian-Emirati businessman employs one of the project leads of Trump Tower Istanbul, and has built 270 projects across the Middle East. He is now building Tiger Sky Tower in Dubai, a $1bn project that claims to have the 'world's highest infinity pool'. He also met Sharaa in January, before he was appointed president of Syria.
The idea for Trump Tower Damascus was born in December, after US Republican congressperson Joe Wilson floated the idea in a speech before Congress.
'The main idea was to attract President Trump's attention,' said Radwan Ziadeh, a Syrian writer who is close to Syria's president. He approached Zoubi with the idea of building Trump Tower, and the two began to work on the project.
The approach was part of a multi-pronged charm offensive meant to put Syria on Trump's agenda. The president made few comments about Syria upon taking office and the road to lifting sanctions, managed by the state department, seemed long.
Syria's president hosted US businesspeople and members of Congress in Damascus, who toured Assad-era prisons and Christian villages around the capital. Meanwhile, the Syrian foreign minister, Asaad al-Shibani, met spiritual leaders close to the Trump administration while on a visit to the UN in New York.
As diplomacy continued, Trump Tower seemed a way to appeal to Trump's unorthodox tastes, and the blurring of the line between his family business empire and political office, particularly in the Middle East, where he was given a luxury plane by Qatar.
In early April, Ziadeh took an initial mock-up of the tower and presented it to Shibani, who was 'very enthusiastic about it'. He also gave it to the Saudi ambassador in Damascus, with the hope that it would reach Trump's team via Riyadh.
'This is how you win his mind and heart,' Ziadeh said. He grew more confident about his strategy after a video posted by Trump in February showed a Trump Tower in Gaza as part of his controversial proposal to effectively displace Palestinians and build a luxury riviera in the Palestinian territory.
Beyond winning hearts and minds in the US, Syrians hope that a major real estate project such as the Trump tower will invite further international investment in Syria.
Major investments are needed in infrastructure and basic services beyond glitzy investment projects. The UN estimates that 90% of the Syrian people live in poverty and live most of the day without electricity or access to proper medical care.
Zoubi shared a side-by-side image of the Damascus skyline, an explosion replaced by a sleek steel and glass high-rise.
'The project is about how the wartorn country is transitioning to a place of light and beauty … It's symbolic, contributing to security and peace,' said Zoubi.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Kohberger's ‘living hell,' Trump wants more control of DC police and Zelensky on US / Russia summit
Kohberger's ‘living hell,' Trump wants more control of DC police and Zelensky on US / Russia summit

New York Post

time21 minutes ago

  • New York Post

Kohberger's ‘living hell,' Trump wants more control of DC police and Zelensky on US / Russia summit

Bryan Kohberger, the man convicted of slaughtering four University of Idaho students in 2022 is being hazed in prison and the guards are letting it slide, President Trump is planning to ask Congress for a crime bill that will allow the feds to control the DC Police longer and Ukrainian President Zelensky catches up with President Trump ahead of Friday's key meeting with Vladimir Putin.

Trump's deal with Nvidia puts our national security on sale to the highest bidder
Trump's deal with Nvidia puts our national security on sale to the highest bidder

Los Angeles Times

time21 minutes ago

  • Los Angeles Times

Trump's deal with Nvidia puts our national security on sale to the highest bidder

One thing that can be said about Donald Trump's transactional approach to policy-making is that, as destructive as it might be to our economic health, it gives business leaders clear options to get what they want out of the White House. The latest case-in-point are the deals struck by chipmakers Nvidia and AMD to secure licenses to export their products to China. The White House named the price — 15% of their revenues from such sales — and the companies assented willingly. Never mind that the exports originally had been banned — by the Biden administration and Trump himself — because of national security concerns. Never mind that the U.S. constitution explicitly prohibits charging any tax or duty on exports. Never mind that a stack of U.S. laws, including the Export Control Reform Act of 2018, which Trump signed, don't provide a pay-to-play escape clause from export restrictions. Never mind that the exports may strengthen the domestic industry and even its military of China, a country that has been the consistent target of Trump trade policies. Despite all that, Trump treated the deals as a win for the U.S. Explaining his side of the conversation when Nvidia asked for relief from the export ban, he related, 'I said, 'If I'm going to do that, I want you to pay us as a country something, because I'm giving you a release.'' Under the circumstances, it shouldn't be surprising that some trade professionals and investors see something corrupt in the arrangements. Among them is Christopher Padilla, an export control official under George W. Bush, who told the Washington Post: 'Export controls are in place to protect national security, not raise revenue for the government. This arrangement seems like bribery or blackmail, or both.'' Nvidia, as it happens, has a written anti-corruption policy stating, 'We do not tolerate bribery or corruption in our business.' The policy bars 'promising, offering, providing, or authorizing the provision of money or anything of value ... to obtain, retain, or direct regulatory approvals, contracts, business, or other benefits.' When I asked Nvidia about the deal, the company referred me to the sole comment it has made in response to questions about it: 'We follow rules the U.S. government sets for our participation in worldwide markets.' AMD didn't respond to my request for comment. These deals are unprecedented; as the Financial Times observed, citing trade experts, 'no US company has ever agreed to pay a portion of their revenues to obtain export licenses.' There's no question that Nvidia lobbied ferociously for a lifting of the export ban. The company made a $1-million contribution to Trump's inaugural committee. Its CEO, Jensen Huang, met directly with Trump to discuss the ban; media reports say that Trump initially demanded a 20% fee, but Huang negotiated it down to 15%. As has been the case with other Trump-negotiated trade deals, the details of this one are murky in the extreme. The terms haven't been reduced to writing. Indeed, White House spokeswoman Karoline Leavitt said Tuesday that its 'legality ... is still being ironed out by the Department of Commerce,' with an eye toward replicating it with other companies. Among the questions is how the fee would be paid, and how the money would be spent. Still, what's known has caused concern for export regulators, experts and legislators. 'Export controls are a frontline defense in protecting our national security,' tweeted Rep. John Moolenaar (R-Mich.), chair of the House select committee on the Chinese Communist Party, 'and we should not set a precedent that incentivizes the Government to grant licenses to sell China technology that will enhance its AI capabilities.' The effect of this deal on other companies also raises the hackles of economists and trade experts. 'Other American semiconductor companies like Qualcomm and Intel may say, 'If we develop this cutting-edge chip and the government decides that it has some national security interest in that chip, we might have some of our revenue taken away as well,'' says Kyle Handley, a trade economist at UC San Diego, 'so they may decide not to do the R&D investments and the innovation and hire the workers to develop those things.' The revenue payback 'will certainly have a chilling effect,' Handley told me, because the government fee 'might make the initial investment appear uneconomical.' That's especially so if the administration tries to apply the arrangement to industries such as software or pharmaceuticals. The export charge could become a particular burden on startups — Nvidia plainly has enough money to pay the fee, but many other innovative companies wouldn't. Whether or how the export tax can be stopped is an open question. For one thing, it's unclear who would have standing to bring a lawsuit to stop it. Nvidia and AMD have accepted the deal, so they presumably wouldn't file a case. Companies that fear the imposition of export fees on their own products might have to wait until they could show concrete damage to their own interests in order to bring a case in federal court. As long as manufacturers such as Nvidia are willing to bow to Trump's demands, he may have a clear field. If a legal challenge does emerge, the administration has tried to characterize the export fee as something other than a tax in order to circumvent the constitutional prohibition. Nvidia developed the H20 chip at the heart of its deal specifically to address an export ban the Biden administration imposed on the company's sales to China in 2023. The Chinese government, however, isn't enamored of the chip. Chinese regulators have been pressuring domestic companies to avoid the chips out of cybersecurity concerns, including suspicion that the chips could contain hidden code that could subject them to outside control. (Nvidia has denied that the chips contain any such back-door exposure.) The chips also are outmoded for some AI applications compared to the company's top-of-the-line Blackwell series, which are still subject to a U.S. export ban. As my colleague Queenie Wong reported, Trump seems to think that he and Nvidia's Huang had put something over on the Chinese. Trump called the H20 chip 'obsolete' and said Huang was 'selling a essentially old chip.' But others say the H20s may yet be preferable to Chinese-designed chips for Chinese firms, although Chinese products are consistently improving. 'The H20 is a potent accelerator of China's frontier AI capabilities, not an outdated AI chip,' as 20 former government trade officials told Commerce Secretary Howard Lutnick, who oversees trade policy, in a July 28 letter. 'If the U.S. backs off of export controls to China, we believe that China's next generation of frontier AI will be built on the backs of the H20,' the officials wrote. The chip 'will not simply power consumer products or factory logistics; they will enable autonomous weapons systems, intelligence surveillance platforms, and rapid advances in battlefield decision-making.' How the export deal may affect Nvidia's top or bottom lines is murky, though its immediate effect doesn't seem all that significant. In May, the company announced a $4.5-billion writedown of unsold H20 inventories in the first quarter ended April 27 because of the U.S. ban on H20 sales. But it still recorded $23.3 billion in operating profit for the quarter on sale of $44.1 billion. For its last full fiscal year ended Jan. 26, Nvidia reported a pre-tax profit of $84 billion profit on sales of $130.5 billion. In stock market terms, Nvidia is the world's most valuable company, with a market value of $4.4 trillion; its price-earnings multiple is a robust 58.4. With a gain in share price so far this year of nearly 35%, it's one of a handful of AI-related companies that has kept the market buoyant despite investor concerns about a developing economic slowdown due in part to Trump's trade policies. But the company is looking ahead to further incursions into the China market over the long term. 'The China market is about $50 billion a year,' Huang told Taiwan-based technology strategist Ben Thompson in May, bemoaning the need to leave behind 'the profits that go with that, the scale that goes with that, the ecosystem building that goes with that' while the export ban was in place. So it made sense to allow Nvidia to extract revenue and profits from the cross-border trade. China is sure to power ahead on AI technology with or without Nvidia's chips, Huang said — 'anybody who thought that one chess move to somehow ban China from H20s would somehow cut off their ability to do AI is deeply uninformed.'

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store