Last week, President Donald Trump took to Twitter to announce that he is cancelling his upcoming visit to Great Britain to cut the ribbon opening the new U.S. Embassy in London because of Barack Obama. Now, more information about this has been revealed as a massive secret Obama hid for years has leaked.
“Reason I canceled my trip to London is that I am not a big fan of the Obama Administration having sold perhaps the best located and finest embassy in London for ‘peanuts,’ only to build a new one in an off location for 1.2 billion dollars. Bad deal. Wanted me to cut ribbon-NO!” Trump wrote, according to Everyday Conservative.
Reason I canceled my trip to London is that I am not a big fan of the Obama Administration having sold perhaps the best located and finest embassy in London for “peanuts,” only to build a new one in an off location for 1.2 billion dollars. Bad deal. Wanted me to cut ribbon-NO!
— Donald J. Trump (@realDonaldTrump) January 12, 2018
Democrats immediately claimed that Trump was wrong to blame Obama, as they alleged the decision had been made in the last year of the George W. Bush administration. However, though the initial decision was made during the Bush administration, the deal was finalized by President Obama in 2009.
The old embassy was located in Mayfair, the wealthiest area of London, and was leased to the U.S. for 999 years in 1954. It was then sold to representatives of the Qatari royal family for “hundreds of millions less” than it was valued at by experts. Documents show that it sold for $431 million, far below the $687 million property experts had estimated.
The new embassy has cost the U.S. $1 billion to build and is located in a remote area of London that property developers hope will become desirable within the next 25 to 50 years. Meanwhile, the Qataris have announced plans to refurbish the old embassy into a five-star hotel at a cost of $1.4 billion.
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