US Politics
Trump Organization seals $1B deal to build ‘Central Park-inspired’ complex in Saudi city of Jeddah
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The Trump family’s presence in the Middle East continues to grow with the announcement of a huge new complex bearing the president’s name, to be built in Saudi Arabia.
The Trump Organization – Trump’s privately-owned business conglomerate, which is now officially led by his children – is working with London-based real estate outfit Dar Global on a major new development project in the Saudi city of Jeddah.
On Monday Dar Global announced plans to launch a “Central Park Inspired” complex of “premium” residential and office buildings and parkland along the Red Sea coast to be named the “Trump Plaza Jeddah”.
According to the company the development is set to include “premium residences, serviced apartments, Grade-A office space, and exclusive townhouses”.
“At the center of the masterplan will be a Central Park-inspired green spine, a landscaped park running the length of the development, anchoring the residences and serviced apartments and bringing the essence of Manhattan to Jeddah,” they continued.
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The $1bn project is the second Trump-branded development in Saudi Arabia, following Trump Tower Jeddah’s grand debut last December.
The Trump Organization has major real-estate investments around the world, including assorted hotels, towers and resorts in countries such as Turkey, Canada, Korea, the UAE, Panama, Mexico, India and the Philippines.
In a press release, Eric Trump, the executive vice president of the Trump Organization, said: “We are honored to expand our footprint in Saudi Arabia with the Trump Plaza Jeddah. This project embodies our vision of excellence by blending world-class hospitality, modern living, and dynamic business environments. Together with Dar Global, we are creating a destination that will set a new benchmark for prestige and innovation in the Kingdom.”
Trump’s first major foreign visit of his second term was to Saudi Arabia, and he has close ties with crown prince and day-to-day ruler, Mohammed bin Salman.
His relationship drew heavy criticism after the 2018 killing of Jamal Khashoggi, a Saudi columnist for the Washington Post who had written critically about the monarchy, the Associated Press reports.
The visit reportedly led to trillions of dollars in deals for U.S. companies, however, spanning sectors from defense to artificial intelligence.
Ziad El Chaar, chief executive of Dar Global, described the new Trump Plaza Jeddah project as “a pioneering concept in Saudi Arabia and one of the most ambitious developments Dar Global has undertaken to date”.
