Saudi Arabia is focused on developing luxury projects to attract investors and tourists, including a Trump Tower in Jeddah. The residential project, announced by the Trump Organization and Dar Global, is targeted towards the luxury Saudi market and international investors. The initiative is part of the ongoing development in the country, which also includes the Neom megacity project.
The agreement between Dar Global and the Trump Organization for a residential development in Jeddah includes plans for a future launch of a Trump Tower in the city. This is the first such project for the Trump Organization in Saudi Arabia and aims to elevate standards of luxury living in the region. Ziad El Chaar, CEO of Dar Global, emphasized the significance of this partnership in Saudi Arabia and its potential to enhance luxury living in the region.
Similar to this deal in Saudi Arabia, Dar Global has reached an agreement with the Trump Organization for a $500 million Trump International hotel complex in Oman. This partnership allows for use of Trump branding under license while highlighting luxury market appeal of the region. Luxury projects such as resorts along the Red Sea further emphasize Saudi Arabia’s commitment to attracting high-end investors and visitors, with Sindalah resort set to open by end of year.
Representatives for both organizations were not immediately available outside normal working hours but it’s clear that their collaboration reflects ongoing efforts to attract international investment and cement their position as leaders in luxury real estate market.
