Trump Organization To Develop Luxury Housing In Jeddah, Saudi Arabia
The Trump Organization has entered into an agreement with Saudi Arabia's real estate developer, Dar Global, to construct a luxury residential tower in Jeddah. This follows their previous collaboration in Oman.
Owned by former U.S. President Donald Trump, The Trump Organization is renowned for developing high-end luxury apartments. This new venture aims to attract both the luxury market in Saudi Arabia and international investors.
Expansion in the Middle East
Eric Trump, son of Donald Trump and Executive Vice-President of The Trump Organization, expressed excitement about expanding their presence in the Middle East. "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," he said on Monday, July 1.
Dar Global is an international subsidiary of Saudi developer Dar Al Arkan. The new project aligns with Dar Global's strategy to seize opportunities across key cities in Saudi Arabia.
Shared Vision of Luxury
"This collaboration embodies our shared vision of creating landmark developments that exude luxury, quality, and sophistication," Eric Trump's statement added. The partnership aims to deliver premium properties that redefine Saudi Arabia's high-growth real estate market.
Ziad El Chaar, CEO of Dar Global, emphasized the importance of this development for their ongoing relationship with The Trump Organization. He stated that it 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."
Previous Collaborations
The Trump Organization had previously partnered with Oman in 2022 for a luxury housing and golf complex project. This project has already generated at least 5 million dollars for The Trump Organization and is expected to be completed by 2028.
On June 29, 2024, a significant milestone was reached when the Trump International mega project was unveiled in Aida, Oman. The event saw the presence of Eric Trump, Ziad El Chaar, and Yousef Al Shelash, Chairman of Dar Al Arkan.
This new Jeddah development marks another step forward for both companies as they continue to collaborate on high-profile projects in the region.
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