Jeddah: After Oman, The Trump Organization has signed a deal with the Kingdom of Saudi Arabia’s real estate developer, Dar Global, to build a luxury residential tower in Jeddah.
The Trump Organization is owned by former U.S. President Donald Trump and is known for building high cost luxury apartments.
Targeting the luxury Saudi Arabian market and international investors, this development significantly advances Dar Global’s growth strategy of capitalising on opportunities across key cities in the Kingdom.
Dar Global is the international subsidiary of Saudi developer Dar Al Arkan.
“We are thrilled to expand our footprint in the Middle East and bring the Trump standard of luxury to the region through our long-standing relationship with Dar Global,” Eric Trump, Donald Trump's son and Executive Vice-President of the Trump Organization, said in a statement Monday, July 1.
“This collaboration embodies our shared vision of creating landmark developments that exude luxury, quality, and sophistication", the statement said.
Ziad El Chaar, CEO of Dar Global, said the new Jeddah development would “strengthen our ongoing relationship with The Trump Organization and expand our portfolio by delivering premium properties to redefine Saudi Arabia’s high-growth real estate market.”
The Trump Organization had partnered with Oman in 2022 to construct luxury housing and a golf complex. The organization has already earned at least 5 million dollars from an agreement for a project that is still ongoing and is set to be completed in 2028.
On June 29, 2024, Trump International mega project was unveiled in Aida, Oman in the presence of Eric Trump, Dar Global CEO Ziad El Chaar and Yousef Al Shelash, Chairman of Dar Al Arkan of Saudi Arabia.
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