DarGlobal.
The Trump Organization has joined forces with Saudi luxury real estate giant Dar Global to erect Trump-branded developments in Dubai and Oman.
Both projects mark the latest venture for the company of former US President Donald Trump, now the Republican nominee for the November election.
Dar Global, the international arm of the London-listed Saudi powerhouse Dar Al Arkan Real Estate Development Company, inked a deal in 2022 to slap the Trump name on their $4 billion development in Oman, itself a Middle Eastern country bordering the United Arab Emirates, Yemen and Saudi Arabia.
This colossal Oman project features a golf course, a hotel and high-end villas. It is expected to be completed by 2028, according to a press release.
During his presidency, Trump maintained close ties with Gulf states, including Saudi Arabia, which invested $2 billion with Jared Kushner’s firm after Trump left office. Kushner, Trump’s son-in-law, served as a senior advisor during Trump’s administration.
The United Arab Emirates is a nation that has established itself as a key security partner of the United States.
Dubai, in particular, has become a hub for international investment, thanks to its swift reopening after the COVID-19 pandemic, significant infrastructure spending, favorable tax policies, and relaxed social and visa regulations.
These factors have driven a robust property market, attracting a diverse group of investors from many other countries.
The Dubai Trump Tower is poised to be a jewel in the Emirates’ crown of ultra-luxury branded buildings, joining the ranks of high-profile projects like the $1 billion Mercedes-Benz tower by developer Binghatti, set for completion in 2026.
Dar Global stated that the Trump Tower Dubai is set to launch next year.
While financial specifics of the deal were not disclosed, the development will include a Trump Hotel and branded residential units. The Trump Organization will not own or sell the property; instead, the Trump name will be used under a licensing agreement.
Adding to the Trump empire’s expansion, Dar Global also revealed plans for a Trump Tower in Jeddah, Saudi Arabia, earlier this month.