The Trump Organization will build a luxury apartment tower in Romania, expanding the Trump family’s financial influence abroad.
Trump Tower Bucharest will be built in partnership with Romanian real estate developer SDC Imobiliare, and will be the Trump Organization’s first development in the country. The company plans to build more than 20 Trump-branded projects worldwide, which the family of United States President Donald Trump stand to directly profit from.
“Trump Tower Bucharest fully reflects our unwavering commitment to excellence, luxury, and innovation. We are honored to collaborate with SDC Imobiliare on this landmark development that will introduce an unprecedented level of quality and service to the Romanian market,” according to Trump Organization executive vice president Eric Trump, who is Donald Trump’s son.
While the Trump Organization released an ethics agreement for Trump’s second term as president, it does not prevent new deals in foreign nations. New projects are being planned for countries like India, France, Saudi Arabia, Oman, and Indonesia.
The company did not disclose the expected value of Trump Tower Bucharest or the terms of the deal. The planned Trump Towers in Belgrade and Jeddah, announced last year, are valued at US$500 million and $533 million respectively.
Trump is the sole owner of the Trump Organization, with his stake in a trust managed by his son Donald Trump Jr. Bloomberg estimated in May that Donald Trump has more than doubled his net worth to around US$5.4 billion since beginning his re-election campaign.
“Instead of a ban on foreign deals, the Trump Organization’s ethics plan restricts business with foreign governments themselves,” said the non-profit Citizens for Responsibility and Ethics in Washington. “It fails to restrict them enough to mitigate potential conflicts, however. Many Trump developments have unnervingly close relationships to foreign governments where they’re being developed.”
Trump administration officials, including Vice President JD Vance, have heavily criticised Romania’s government for cancelling its December presidential election after its security council found Russia had targeted Romanian election infrastructure. Russia launched over 85,000 cyber attacks on Romania’s election websites and a coordinated effort to promote Russia-aligned candidate Calin Georgescu on social media, the council said.
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