$1 bln Trump Plaza set for Jeddah

JEDDAH

Dar Global, a London-listed luxury real estate developer, said Monday that it plans to launch a Trump Plaza in the Saudi Red Sea city of Jeddah in the second collaboration with the Trump Organization, following the success of Trump Tower Jeddah.

The announcement by the company, which is listed on the London Stock Exchange , said the $1 billion landmark development is to rise along King Abdulaziz Road in the heart of the city.

Dar Global said the project will have a Central Park-inspired green spine as an anchor, “bringing Manhattan-style vibrancy” to Jeddah.

It is the second collaboration in the coastal Saudi city with The Trump Organization and Dar Global said Trump Plaza Jeddah will represent the second Trump-branded development in Saudi Arabia, following the launch of Trump Tower Jeddah in December last year.

Trump’s company struck many real estate licensing deals overseas before he entered the White House in 2017, including for hotels and residential towers in Canada, Dubai, Mexico, India and Türkiye.

Dar Global said Trump Plaza Jeddah will transform the city's skyline into a world-class community that will include premium residences, serviced apartments, Grade-A office space, and exclusive townhouses.

Designed to redefine urban living in Saudi Arabia, the development will integrate living, working, and leisure into one seamless destination, the statement said.

“This project embodies our vision of excellence by blending world-class hospitality, modern living, and dynamic business environments,” Dar Global's statement quoted Eric Trump, Executive Vice President of The Trump Organization, as saying.

“Together with Dar Global, we are creating a destination that will set a new benchmark for prestige and innovation in the kingdom,” he said.