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This is the $2 billion deal that Trump turned down

CNBC logo CNBC 1/12/2017 Silvia Amaro
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President-elect Donald Trump said Wednesday that he had said no to a $2 billion deal from luxury property developer Damac Properties to avoid any conflicts of interest.

"I turned it down," Trump told journalists in his first press conference for six months on Wednesday. Trump added that as president of the United States he did not have to reject the deal but had preferred to turn it down.

Niall McLoughlin, senior vice-president at Damac Properties, told CNBC via email: "Damac can confirm that the discussions took place as stated in the media briefing but the proposals were declined. These proposals were for a variety of different property deals." 

Trump said Damac's Chairman, Hussain Sajwani, is a "very amazing man". Both have struck several deals over the past years. According to the Washington Post, Trump's firm has received "millions of dollars in recent years" from such agreements.

These deals included the construction of a golf course – the Trump International Golf Club Dubai - a 7,205-yard, par 71 course which is due to be completed this year.

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