Trump submits plan for $200 million investment in Scottish golf resort

Image
Reuters LONDON
Last Updated : Jul 24 2018 | 2:05 PM IST

LONDON (Reuters) - U.S President Donald Trump's company has submitted plans to invest another 150 million pounds ($197 million) in one of his Scottish golf resorts, the Trump Organization said on Tuesday.

Trump owns two golf resorts in Scotland, and the development of his resort in Balmedie, near Aberdeen in north-east Scotland, has attracted fierce criticism from some locals and environmentalists.

The organization invested 100 million pounds in the first phase of development, and has promised 750 million pounds of investment in total.

It 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.

"Initial interest to our plans have been incredible and, subject to detailed planning approval, we are aiming to break ground next year," Eric Trump, who along with his brother Donald Jr. leads the Trump Organization, said in a statement.

The U.S. president visited his other golf course in Turnberry during his visit to Britain earlier this month where he played two rounds of golf.

($1 = 0.7621 pounds)

(Reporting by Kate Holton, writing by Alistair Smout, editing by Guy Faulconbridge)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Jul 24 2018 | 1:50 PM IST

Next Story