Saudi Arabia: Trump Tower Will Be Built in Jeddah
The new real estate development will consist of a five-star hotel and luxury apartments
After a year of negotiations, Saudi Arabia has given the final green light for the construction of Trump Tower in the coastal city of Jeddah, a luxury real estate development that will consist of a 5-star hotel, with part of the building reserved for super-premium apartments.
The agreement between Saudi developer Dar Global and the Trump Organization “will leverage the strengths of both organizations to attract more international investors and tourists,” said Dar Global CEO Ziad El Chaar (pictured). On the US side, the agreement was signed by brothers Eric Trump and Donald Trump Jr., executive vice presidents of the Trump Organization and sons of the 47th US president.
The Saudi Arabia project is expected to build on the success of the Trump International Oman project, which is an integral part of Aida, one of the world’s largest mixed-use real estate ventures – hotels and homes.
London-listed Dar Global currently has various projects in six countries – the United Arab Emirates, Oman, Qatar, the United Kingdom, Spain, and Bosnia – totaling $5.9 billion, with a new project from Saudi Arabia being added. “We are excited,” said Eric Trump, “to expand our presence in the Middle East and bring Trump’s luxury standards to the region through our long-standing relationship with Dar Global.” In July 2024, the Trump Organization reached an agreement with Dar Global to build a skyscraper in the commercial hub of Dubai, United Arab Emirates.
