The Trump Organization plans to grow with two new projects in Riyadh after announcing Trump Tower in Jeddah
The Trump Organization announced plans for two new projects in Riyadh after starting the Trump Tower project in Jeddah, as it grows its presence in the region.
Regional Expansion
The Trump Organization plans to work on two new projects in Riyadh, Saudi Arabia, in partnership with Dar Global, a luxury developer based in Dubai, Eric Trump, Donald Trump’s son, told Reuters.
Eric Trump shared that one of the projects will definitely be a tower but did not provide more details. He also mentioned the company plans to expand further in the Gulf region, including a new project in Abu Dhabi within the next year or so.
Dar Global is part of the Saudi real estate company Dar Al Arkan and is listed in London. Its CEO, Ziad El Chaar, said the second project in Riyadh will be a Trump Golf community, similar to one launched in Oman in 2022. “We aim to develop one tower and one golf community,” he explained.
The cost of these projects was not disclosed. However, El Chaar compared their scale to the Trump Tower in Jeddah, valued at $530 million, and the Trump Golf community in Oman, worth $2.66 billion.
This announcement comes after the launch of the Trump Tower project in Jeddah on Wednesday, marking the Trump Organization’s fifth partnership with Dar Global.
Politics and Business
When asked about possible conflicts of interest during Donald Trump’s presidency, Eric Trump said, “I have no involvement with Washington, D.C. and don’t want any.” He also mentioned earlier this week that there would be “a very large wall” separating their company from government affairs.
During Donald Trump’s first term as President, he kept ownership of the Trump Organization but gave control to his sons, Eric and Donald Jr., instead of following the usual practice of selling off business interests or placing them in a blind trust.
As Trump’s potential second term approaches, the company plans not to start new businesses in countries with ongoing conflicts or those facing possible tariffs.
The Trump Organization manages Trump’s business ventures, including luxury hotels, golf courses, estates, and more.
Published: 13th December 2024
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