Why early buyers of the Trump Organization’s $200M Scottish housing project are raising eyebrows

Despite the company’s golf courses in the country losing money, the project is allegedly attracting a large amount of attention

TRD WEEKEND EDITION /
Sep.September 16, 2018 04:00 PM

President Donald Trump; behind, the Trump Organization’s Turnberry golf property. (Credit: Gage Skidmore, Terry Stewart)

Despite Trump International Golf Links Scotland money troubles, there is significant interest in buying homes the company’s developing adjacent to its Aberdeen course–at least according to their legal team.

“It is rare for a development to attract such interest prior to the submission of a planning application,” Trump’s law firm noted in its filings to Aberdeenshire Council, as reported by Bloomberg. Many homes have been reserved, the lawyers claim, despite the development’s pending plans. The company plans to construct up to 500 homes–if the city approves its proposal, and spend nearly $200 million in the process.

The Aberdeen golf course itself is not making money. According to Bloomberg, it wracked up losses to the tune of 1.4 million pounds ($1.8 million USD), while Trump’s second Scottish course in Turnberry had a shortfall of 17.6 million pounds ($23 million USD). [Bloomberg]Erin Hudson


Related Articles

arrow_forward_ios
An example of roll-off waste management (Credit: YouTube, iStock)

Big building owners prevent city from dumping container-pickup in trash-collection reform

“I can talk about erections all day”: NAR tech consultant’s bizarre fireside chat

Council member Vanessa Gibson (Credit: New York City Council)

Commercial landlords face new fines as City Council passes anti-harassment bill

As House begins impeachment inquiry, here’s what we know about Trump’s Ukraine-real estate ties

It’s not just Chinese buyers retreating from NYC’s condo market

Embattled Prodigy Network CEO Rodrigo Niño to step down

The Watchtower building at 25 Columbia Heights, CIM Group’s Shaul Kuba (right) and LIVWRK’s Asher Abehsera (Credit: Wikipedia, CIM Group, and LinkedIn)

JPMorgan leads $335M refi for CIM and LIVWRK’s Watchtower renovation

Multifamily market still reigns in Queens, Blackstone balks after rent reforms and more of the biggest CRE trends right now

arrow_forward_ios