U.S. President Donald Trump wants to make a deal in the Middle East and that could become a reality if he is reelected, according to a Dubai property magnate.
“In my view, most of the people in the region are tired of war,” Hussain Sajwani, chairman of Damac Properties, told CNBC’s Hadley Gamble Tuesday. “I think there is a good chance of peace happening, a deal happening in the second term of Trump if he gets elected.”
In 2018, the U.S. withdrew from a 2015 Iran nuclear agreement. Tensions between the two countries ratcheted up in early January after an American airstrike killed Iranian top military commander, Qasem Soleimani. After Tehran retaliated by firing ballistic missiles at U.S. targets in Iraq, both sides appeared to step back from further military escalation.
“I genuinely think he wants to make a deal,” Sajwani said at the World Economic Forum in Davos, Switzerland. “I think if Trump gets elected for a second term, he will make a deal.”
However, it “depends on the other side” as well, he said in reference to Iran.
“My gut feeling is I don’t think there’ll be a deal this year. I think Iran is going to take a long time to make a deal,” he said. “I think they’re under pressure, they may want to make a deal.”
Democracy in the Middle East
Weighing in on the unrest in the Middle East, he said “democracy is not working” in the region.
“Sometimes democracy also brings challenges,” he said. “Foreign powers interfere by supporting certain political parties and the fight becomes a proxy fight on those lands.” He also questioned the effectiveness of street demonstrations, which have broken out in different countries in recent months.
“I hate to tell you, but when you read history, revolutions and going into the streets … have not brought the best governments to the interests of the people,” he said. “Ultimately, unfortunately somebody rides on those waves and comes to power and he does a worse job.”