Jeddah - Washington: Europe and the Arabs
Dar Global has unveiled the $1 billion Trump Plaza Jeddah project in partnership with the Trump Organization, marking their second collaboration in the city after Trump Tower Jeddah.
Saudi real estate developer Dar Global has announced a new $1 billion project in Jeddah, in partnership with the Trump Organization. The project, named Trump Plaza Jeddah, marks the second collaboration between the two parties in the coastal city after the launch of Trump Tower Jeddah last year.
Dar Global, the luxury real estate developer listed on the London Stock Exchange, said Trump Plaza Jeddah will be built along King Abdulaziz Road in the heart of the city and will feature a green strip inspired by Central Park, bringing a vibrant Manhattan vibe to Jeddah. According to what was published by the European news network "Eunews" in Brussels on Tuesday, the project added, "The project will transform the city's skyline through a mix of luxury residences, serviced apartments, first-class office space, and exclusive townhouses. According to the company, the project is designed to redefine urban life in Saudi Arabia, combining living, work, and entertainment in one integrated destination."
The Trump Organization and the Partnership's Background
Trump Plaza Jeddah represents the second Trump-branded project in Saudi Arabia, following the Trump Tower Jeddah, which was launched last December. The Trump Organization had concluded licensing deals for hotel and residential projects in several countries, including Canada, Dubai, Mexico, India, and Turkey, before Donald Trump entered the White House in 2017.
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However, Trump's close relationship with Saudi Crown Prince Mohammed bin Salman has sparked widespread controversy, especially after the 2018 murder of journalist Jamal Khashoggi, who wrote articles critical of the royal family for the Washington Post. Post.
Commenting on the project, Eric Trump, Executive Vice President of The Trump Organization, said: "This project embodies our vision of excellence by blending world-class hospitality, modern living, and a dynamic business environment." He added: "Together with Dar Global, we are creating a destination that will set a new standard for innovation in the Kingdom."
Dar Global's Global Reach
Dar Global is the international arm of Dar Al Arkan, one of Saudi Arabia's leading real estate developers. It says it manages projects worth $7.5 billion in several countries, including the UAE, Oman, Qatar, the United Kingdom, Spain, and Saudi Arabia itself.
This expansion places it among the international players in the luxury real estate development sector and reflects its ambition to strengthen its global presence.