JEDDAH: Trump Tower is set to be built in Jeddah, further enhancing Saudi Arabia’s luxury real estate offerings and providing more modern living options in the Kingdom.
Dar Global, an international real estate developer, and The Trump Organization, known for its upscale global properties, have announced plans for a new project in Saudi Arabia.
The agreement builds on the success of the Trump International Oman project within the AIDA development, one of the world’s largest and most acclaimed premium mixed-use real estate ventures, according to a statement from Dar Global.
Ziad El-Chaar, the CEO of Dar Global, expressed excitement about deepening their partnership with the Trump Organization and expanding their portfolio by delivering properties that will redefine the Kingdom’s rapidly growing real estate market.
“The new agreement in Saudi Arabia will leverage the strengths of both organizations to attract more international investors and vacationers,” the CEO said.
He added that this collaboration highlights his company’s commitment to expanding its presence while setting new standards for luxury living in the region.
The property developer said that the Jeddah project is aimed at both the luxury Saudi market and international investors, marking a key step in its growth strategy to seize opportunities in the Kingdom’s prime cities.
As the international arm of the Saudi mega-developer Dar Al-Arkan, the new project marks Dar Global’s debut in the Saudi coastal city and will further strengthen its real estate offerings in the country.
Listed on the London Stock Exchange, Dar Global currently has $5.9 billion worth of projects under development in six countries, including the UAE, Oman, Qatar, the UK, Spain, and Bosnia.
Eric Trump, executive vice president of the Trump Organization, said: “We are thrilled to expand our footprint in the Middle East and bring the Trump standard of luxury to the region through our longstanding relationship with Dar Global.”
He added that this collaboration embodied their shared vision of creating developments that incorporate luxury, quality, and sophistication.
“Together with Dar Global, we are setting new benchmarks for excellence, aiming to meet the demand for iconic properties in key markets,” he said.
In July, the Trump Organization announced a deal to partner with the Saudi developer to build a high-rise tower in the UAE business hub of Dubai, its latest project in the Gulf.
Trump Tower Dubai will target “the Dubai luxury market,” real estate developer Dar Global said in a press release at that time, adding that the location and design would be unveiled by the end of the year.
The development will include a Trump hotel and branded residential units, said Dar Global.
