That sum includes hundreds of millions of dollars spent on revamping his golf resorts, according to the group’s public statements. The Trump Organization has invested more than $1 billion in the 11 wholly owned golf properties since his first purchase in the late 1990s, according to a Reuters calculation based on information provided by the company, its executives in media interviews and public records. While the Trump Organization has converted a manor house into a hotel and built other guest accommodation, neither he nor the Trump Organization have constructed any homes there. Trump did in 2008 obtain rights to rezone farmland and a coastal reserve in Aberdeenshire, Scotland, to build hundreds of residences subject to building a golf course and a large hotel. Nor has the Trump Organization secured rezoning rights to build additional homes at any of those properties over the period, according to spokespeople for planning authorities, databases of planning applications and minutes of planning board meetings. 3 election, his business, the Trump Organization, appears to have made little progress in turning that vision into reality.Ī Reuters review of satellite imagery and publicly available property filings in the United States and Europe shows that over the past decade, the Trump Organization hasn’t built a single residential or holiday home at any of the 11 golf properties that according to land records and the president’s financial disclosures are owned outright by the business. Today, as he campaigns for a second presidential term ahead of a Nov. The formula, he added, would make his portfolio of courses “worth many times what I invested.” The strategy, he said, involved building homes on and around fairways purchased at a relative bargain. “My golf holdings are really investments in thousands, many thousands of housing units and hotels,” Trump said in the 2016 interview, adding that the courses were in prime locations such as near Manhattan. The “big play” was developing real estate at the properties, he said. Facing skepticism at the time about his track record as a businessman, Trump told Reuters that those who focused on the operating losses at his courses were missing the point. president in 2016, Trump pointed not only to the prestige of his golf course portfolio, but also to the strategy the resorts represented. A view of the hotel at the Trump Turnberry Golf Resort Turnberry, Scotland, Britain October 3, 2020.
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