Staff Report
UAE, Dubai
Dar Global and The Trump Organization will collaborate on a luxury real estate project in Jeddah, Saudi Arabia. The new agreement follows the success of the Trump International Oman within the AIDA development, a prominent mixed-use project in Oman.
Ziad El Chaar, CEO of Dar Global, said, “We are delighted to strengthen our ongoing relationship with The Trump Organization and expand our portfolio by delivering premium properties to redefine Saudi Arabia’s high-growth real estate market. The new agreement in Saudi Arabia will leverage the strengths of both organizations to attract more international investors and vacationers. This collaboration underscores our commitment to grow our footprint by elevating the standards of luxury living in the region.”
The project targets Saudi Arabia’s luxury market and global investors, advancing Dar Global’s strategy to capitalize on key city opportunities. As Dar Al Arkan’s international arm, the project marks its Jeddah debut, upgrading their real estate portfolio in the country. Listed on the London Stock Exchange, Dar Global has US$5.9 billion in projects across the UAE, Oman, Qatar, UK, Spain, and Bosnia.
Eric Trump, Executive Vice President of The Trump Organization, said, “We are thrilled to expand our footprint in the Middle East and bring the Trump standard of luxury to the region through our long-standing relationship with Dar Global. This collaboration embodies our shared vision of creating landmark developments that exude luxury, quality, and sophistication. Together with Dar Global, we are setting new benchmarks for excellence, aiming to meet the demand for iconic properties in key markets.”
In the near future, the Group plans to diversify into hospitality assets, acquiring or constructing hotels for eventual sale after stabilizing revenue over three to five years. Target markets span Spain, Dubai, Maldives, Athens, Marrakesh, and London. It joined the Main Market of the London Stock Exchange on 28 February 2023.
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Also Read: Dar Global launches US$500m luxury resort in AIDA, Oman
