The decorative clock bearing the name of America’s incoming 45th president has yet to start at the Trump International Golf Club in Dubai, but the developers behind the project already are counting the money they’ve made.

The 18-hole course is likely to be the first Trump-connected property to open after his Jan. 20 inauguration as president, joining his organization’s projects stretching from Bali to Panama.

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“There has never been anything remotely like this — not even close,” said Robert W. Gordon, a legal historian and ethics expert who teaches at Stanford University. “Trump himself tends to treat his businesses and his public policy as sort of extensions of himself. He seems to be completely unembarrassed about scrambling up and conflating his business enterprise and the actions and policies of the U.S. government.”

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“He has so many properties that his business interests become an obvious target for both bribes and threats,” said Gordon, the Stanford law professor. “The dangers really come in two directions: One is that foreign powers will try to use Trump’s interests as a way of bribing him into public policies in a way that are friendly to them or use them put pressure on him.”