TRUMP TO OPEN TOWER IN JEDDAH IN DEAL WITH SAUDI DEVELOPER, EXTENDING BRAND TO MIDDLE EAST

Sat 06 July 2024:

Donald Trump’s organisation has announced a deal it struck with a Saudi developer for the establishment of a high-rise tower in the Saudi coastal city of Jeddah, extending the former US president’s brand name to the Gulf and Middle East.

In a statement this week by Eric Trump, the former president’s son and Executive Vice-President of the Trump Organisation, “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”, referring to the major Saudi real estate developer it has partnered with for the project. “This collaboration embodies our shared vision of creating landmark developments that exude luxury, quality and sophistication.”

Dar Global said in its own press release that the Trump Tower Jeddah will target “the luxury Saudi Arabian market and international investors”. It’s CEO, Ziad El Chaar, also stated that the development would “strengthen our ongoing relationship with The Trump Organisation and expand our portfolio by delivering premium properties to redefine Saudi Arabia’s high-growth real estate market”.

In addition to the Jeddah tower, Dar Global is developing a Trump International Hotel and luxury villas in Muscat, the capital of neighbouring Oman, further extending the Trump brand in the region – with the Muscat development under licence to use the Trump name – with completion expected in 2028.

Aside from business, the establishment of a Trump tower in Jeddah further cements the long-time relationship between the former president and the Kingdom, with Trump having chosen the Gulf state for his first foreign trip during his term, as well as his administration having defended Saudi Crown Prince, Mohammed Bin Salman, from serious measures against him and the Kingdom amid a series of controversies, namely the assassination of Saudi journalist, Jamal Khashoggi, in Istanbul.

-MEMO

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