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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SOURCE Dar Global