The Saudi developer, Dar Global, announced on Thursday a new collaboration with the Trump Organization.
The new project involves building a new luxury tower in Dubai, the UAE, as part of the Trump Organization’s plans to expand its presence in the Gulf region.
Trump Tower Dubai
In a press release, Dar Global, the international subsidiary of Saudi developer Dar Al Arkan, announced that the new collaboration aims to establish the iconic Trump Tower Dubai.
It added that the project will include “the renowned Trump Hotel and branded residential units, each showcasing state-of-the-art amenities and world-class services.”
The Saudi developer said that the development will set “new standards in luxury hospitality and residential living in the region,” noting that it will unveil the location and design by the end of 2024.
According to the press release, the Trump Organization will not own or sell the development but the developer will use the name and mark under license.
Middle East Expansion
Commenting on the new partnership, the Executive Vice President of The Trump Organization, Eric Trump, expressed his aspirations to expand investments in the Middle East and the Gulf region.
He said: “We are proud to expand our presence in the region further through the launch of our iconic Trump Tower Dubai in collaboration with the world-class luxury developer Dar Global.”
“Trump Tower Dubai exemplifies our commitment to excellence and luxury, and we look forward to bringing our vision to life in one of the world’s most dynamic cities,” the son of the former US president added.
Iconic Project
Similarly, the CEO of Dar Global, Ziad El Chaar, said: “The grand launch of Trump Tower Dubai is an extraordinary addition to the Dubai luxury market and to Dar Global’s renowned hospitality and residential portfolio.”
El Chaar pointed to the significance of the new project. “This unique luxury project will enhance our track record of creating bespoke landmark properties in the region and contribute to elevating Dubai’s skyline while highlighting the city’s reputation as a worldwide beacon of excellence and sophistication,” he said.
“Trump Tower Dubai will be an iconic project that is bound to redefine luxury living in Dubai, while attracting a global audience,” he added.
Third Collaboration
Trump Tower Dubai is the third collaboration between the two companies in the past few years. Earlier in July, they announced a deal to construct a high-rise luxury tower in the coastal city of Jeddah, Saudi Arabia.
In 2022, Dar Global announced it was developing the Trump International Oman project, a luxury project featuring a hotel, villas, as well as a golf course, scheduled to open in late 2028.
Dar Global is listed on the London Stock Exchange and currently has projects under development, valued at $5.9bn, in 6 countries, including the UAE, Oman, Qatar, the UK, Spain, and Bosnia.
