Riyadh – Mubasher: UK’s Dar Global, an international real estate developer with its headquarters (HQ) in Dubai has teamed up with The Trump Organization to launch the first Trump Tower in Saudi Arabia, according to a press release.
The new project marks Dar Global’s debut in Jeddah to target the luxury Saudi Arabian market in addition to international investors. It is reportedly scheduled for opening in 2028.
Announcing the launch of Trump Tower in the Kingdom followed the news on The Trump Organization’s $500 million hotel complex in Oman’s AIDA with Dar Global, which is forecast to be one of the largest premium mixed-use real estate projects across the globe.
Dar Global was originally founded to house and develop the international -non-Kingdom of Saudi Arabia based- assets of the Saudi listed Dar Al Arkan Real Estate Development Company.
CEO of Dar Global, Ziad El Chaar, said: "We are delighted to 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.”
El Chaar added: “The new agreement in Saudi Arabia will leverage the strengths of both organizations to attract more international investors and vacationers.”
He concluded: “This collaboration underscores our commitment to grow our footprint by elevating the standards of luxury living in the region.”
Dar Global is currently trading on the London Stock Exchange (LSE) and has $5.90 billion worth of projects under development across six countries, namely the UAE, Oman, and Qatar in the Arab region as well as the UK, Spain, and Bosnia.
Executive Vice President of The Trump Organization, Eric Trump, said: "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.”
Trump noted: “This collaboration embodies our shared vision of creating landmark developments that exude 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.”
