What is the story of the new Trump Tower in Saudi Arabia?

Weather of Arabia - A Saudi real estate developer announced a partnership agreement with the Trump Group to establish a prominent tower in the city of Jeddah on the coast, which is the latest project undertaken by the group of former US President Donald Trump in the Gulf region.

In a statement issued by Dar Global, the international arm of the Saudi real estate development company Dar Al Arkan, the company confirmed that the Trump Tower project in Jeddah aims to attract global investors to the Kingdom and highlight the Saudi luxury market.

The company's statement indicated that Trump had entrusted the management of his real estate group to his children after arriving at the White House in 2017, and that he still held shares in the group. Dar Global's statement conveyed the statements of Eric Trump, son and executive vice president of the Trump Group, who expressed his happiness at expanding the scope of their business in the Middle East and providing global standards of luxury in cooperation with Dar Global.

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The #Trump Organization is planning to build a luxury residential tower in #Jeddah in cooperation with “Dar Global” #Al Arabiya_Business pic.twitter.com/iQdeCCU200

- Al Arabiya Business (@AlArabiya_Bn) July 2, 2024

Developing exceptional projects that enjoy the highest levels of luxury and quality

Trump added that the partnership embodies their shared vision of developing exceptional projects with the highest levels of luxury and quality. Ziad Al-Shaar, CEO of Dar Global, stressed their happiness to strengthen the partnership with the Trump Group and expand their portfolio by developing exceptional real estate projects that set new standards for the real estate market in the Kingdom of Saudi Arabia.

In addition, Dar Global is also developing the Trump International Oman complex, which includes a hotel and luxury villas in neighboring Muscat and is expected to be completed in 2028, according to information available from the company's official website. It should be noted that the Trump Group does not own the complex in the Sultanate of Oman, but rather allows use under a license.

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