LONDON - Dar Global plc, a luxury real estate developer listed in London, has announced the launch of Trump Tower Jeddah, a SAR 2 billion (approximately $533 million) residential project in partnership with the Trump Organization. This new 47-floor tower, one of the tallest residential structures in Jeddah, marks a significant addition to the city's skyline and introduces the Kingdom (TADAWUL:4280)'s first members-only Trump Club.
The tower is strategically situated on Jeddah's Corniche, near other iconic landmarks, and is designed to offer a range of luxury residences with views of the Red Sea. The Trump Club aims to become a premier destination for the city's elite, offering privacy, luxury, and exclusivity with curated events and exceptional dining. The project also includes retail spaces, fitness centers, spas, and gourmet dining options.
Ziad El Chaar, CEO of Dar Global, emphasized the transformation underway in Jeddah from traditional housing to dynamic high-rises and mixed-use developments that cater to modern living preferences. He noted that Trump Tower Jeddah would play a key role in this evolution, merging ultra-luxury with the vibrancy of contemporary life.
Eric Trump, Executive Vice President of The Trump Organization, expressed excitement about the collaboration with Dar Global, marking the third joint project between the two entities. He highlighted the shared commitment to excellence and innovation, aiming to create a landmark that will define luxury living in the region.
The Trump Tower Jeddah project builds on a decade-long relationship between Dar Global and the Trump Organization, with other ventures including the AIDA development in Oman and Trump International Tower Dubai.
Dar Global is also embarking on a project to construct 200 new residential villas in Riyadh, expanding its presence in Saudi Arabia's real estate sector. The company is known for bringing international standards of luxury to markets across the Middle East and Europe.
The press release concludes with a disclaimer clarifying that Trump Tower Jeddah is not owned, developed, or sold by The Trump Organization or any of their current or former principals or affiliates. Dar Global, the owner, and developer of the property, uses the "Trump" name and mark under a license agreement that may be subject to termination or revocation.
This announcement is based on a press release statement from Dar Global plc.
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