DUBAI, UAE, July 1, 2024 /PRNewswire/ -- Dar Global, the luxury international real estate developer, and The Trump Organization, renowned for its prestigious properties and iconic developments worldwide, have announced plans to develop a new project in Jeddah, Saudi Arabia. This new agreement builds on the tremendous success of The Trump International Oman project within the AIDA development, one of the largest premium mixed-use real estate projects in the world, which has already received remarkable acclaim.
Targeting the luxury Saudi Arabian market and international investors, this development significantly advances Dar Global's growth strategy of capitalizing on opportunities across key cities in the Kingdom. As the international arm of the Saudi mega-developer Dar Al Arkan, this new project marks Dar Global's debut in Jeddah, Saudi Arabia and will further strengthen its real estate offerings in the country. Listed on the London Stock Exchange, Dar Global currently has US$5.9 billion worth of projects under development in six countries – the UAE, Oman, Qatar, the UK, Spain, and Bosnia.
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."
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."
Disclaimer: Trump International Oman is not owned, developed or sold by The Trump Organization or any of their current or former principals or affiliates. Dar Al Arkan Property Development SPC, the owner and developer of the property, uses the "Trump" name and mark under license, which license may be terminated or revoked according to its terms.
