Trump aims to pump another £150 million into Aberdeen golf resort
Plans to build 500 residential homes, 50 hotel cottages, sports centre, retail, equestrian and commercial spaces at Trump Aberdeen in Scotland
US President Donald Trump's company has submitted plans to invest another £150 million (Dh722.2m) in his Trump International Golf Links and leisure resort near Aberdeen in Scotland, the Trump Organisation said on Tuesday.
Mr Trump plans to build 500 residential homes, 50 hotel cottages, sports centre, retail, equestrian and commercial spaces at his Aberdeen resort, along with other leisure facilities, according to Reuters.
"Initial interest to our plans have been incredible and, subject to detailed planning approval, we are aiming to break ground next year," said Eric Trump who, along with his brother Donald Jr, leads the Trump Organisation.
In October, the UK newspaper The Gaurdian reported accounts for his network of Scottish companies showed he had to plough another £1.3 million into his debt-ridden resort in Aberdeenshire to keep it afloat after the North Sea oil price crash and economic downturn saw its popularity slump among local golfers.
Trump International Golf Links Scotland lost nearly £1.2m in 2016, forcing Mr Trump to increase his interest-free loans to the resort to nearly £41m while he was campaigning for the presidency the previous year.
Mr Trump’s much larger and better known golfing resort and hotel at Turnberry in Ayrshire, which he bought in 2014, has also suffered heavy losses, largely because of its partial closure for refurbishment and building works.
Mr Trump increased his funding of the resort by £49m in 2016. In all, Trump Turnberry owes the US president's firm £112m, the accounts for its parent company Golf Recreation Scotland showed in October, the paper said, nearly double the £63m it owed him the previous year. In all, his interest-free loans to both resorts reached £153m by the end of 2016.
Updated: July 24, 2018 12:21 PM