Dar Global to launch a $1 billion project in Saudi Arabia in a deal with Trump Organization
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DUBAI, United Arab Emirates (AP) — London real estate developer Dar Global said Monday that it plans to launch a Trump Plaza in the Red Sea city of Jeddah, its second collaboration with the Trump Organization, the collection of companies controlled by U.S. President Donald Trump’s children.
The $1 billion project will be the second Trump-branded development in Saudi Arabia, following the launch of Trump Tower Jeddah in December last year, Dar Global said. It will include residences, serviced apartments, office space and townhouses.
Trump’s company struck many real estate licensing deals overseas before he first entered the White House in 2017, including for hotels and residential towers in Canada, Dubai, Mexico, India and Turkey.
Trump’s close ties to Saudi Arabia’s crown prince and day-to-day ruler, Mohammed bin Salman, drew heavy criticism after the 2018 killing of Jamal Khashoggi, a Saudi columnist for the Washington Post who had written critically about the monarchy.
The first major foreign trip of Trump’s second term was to Saudi Arabia.
Dar Global is the international arm of Dar Al Arkan, a large Saudi developer. It says it has $7.5 billion worth of projects under development in the United Arab Emirates, Oman, Qatar, the United Kingdom, Spain and Saudi Arabia.