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.
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