Trump Organisation
undertaking luxury projects in Saudi Arabia
London-listed property developer Dar Global has announced plans to launch a
Trump-branded luxury development in Riyadh, citing rising demand for high-end
real estate in Saudi Arabia, the Arab world’s largest economy.
The project will span 2.6 million
square metres in Wadi Safar and form part of the Diriyah master plan being developed by
Diriyah Company. It will include the Trump International Golf
Club, a gated community featuring a Trump-branded championship golf course,
a luxury Trump hotel and premium residential offerings.
Eric Trump, executive vice
president of the Trump Organisation and son of US President Donald Trump, said
the development aims to deliver a global standard of luxury living. The project
marks the Trump Organisation’s first venture within the Diriyah development,
which seeks to transform the Kingdom’s historic district into a major tourism
destination.
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The $63.2 billion Diriyah project
will cover 14 square kilometres and, when completed in 2030, is expected to
feature 42 hotels, more than 100 restaurants, nine museums and over 30,000
homes.
Dar Global and the Trump
Organisation are also set to announce a mixed-use development in Jeddah, Trump Plaza Jeddah,
located along King Abdulaziz Road. The project will comprise premium
residences, serviced apartments, Grade-A office space and town houses. It
follows the unveiling of Trump Tower Jeddah in 2024, making it the second
Trump-branded development by Dar Global in Saudi Arabia.
According to Reuters, the combined
value of the Diriyah and Jeddah projects is estimated at $10 billion. Dar
Global chief executive Ziad El Chaar said the developments align with Saudi
Arabia’s Vision 2030 strategy, which aims to diversify the economy away from
oil and attract foreign direct investment.
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Dar Global is also partnering with
the Trump Organisation on projects in Oman, the UAE and Qatar. Separately, the
two companies are planning a tokenised luxury resort in the Maldives. The Trump
International Hotel Maldives, reportedly valued at $300 million, will be the
first Trump-branded property in the South Asian nation.
The latest launch comes as Saudi
Arabia’s real estate sector continues to gain momentum, supported by reforms
allowing greater foreign participation. The Kingdom now permits foreign
property ownership in designated zones in Riyadh and Jeddah, offers residency
through property purchases exceeding $1 million, and has introduced special
regulations governing ownership in Makkah and Madinah.
Source: The National
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