ALBAWABA - As part of its most recent venture in the Gulf region, the Trump Organization made public on Thursday a partnership agreement with Saudi developer, Dar Global, to construct a high-rise Trump Tower in Dubai, the commercial heart of the United Arab Emirates.
In a press statement, Dar Global, the international subsidiary of Saudi real estate developer Dar Al Arkan, said that Trump Tower Dubai would be aimed at "the Dubai luxury market," adding that the site and design of the building will be revealed before the end of the year. In addition to residential apartments with a Trump brand, the property will also contain a Trump hotel.
This statement was made less that a month since after Dar Global had previously announced a separate agreement with the Trump Organization to construct an upcoming skyscraper in the city of Jeddah, located on the coast of Saudi Arabia, that would mark Dar Global's initial venture in Jeddah.
Earlier, a $500 million Trump International five-star resort project in Oman, scheduled to officially open in December 2028 with a nightclub, golf course, and members-only club, was announced by the Trump Organization and Dar Global just a few days before to the announcement of the new project in Saudi Arabia.
In 2011, amidst the global financial crisis, a project of comparable nature was canceled, as reported by Bloomberg; in collaboration with Dubai-based Nakheel Developments, Trump's first venture into the Middle East was expected to be the Trump-branded hotel and tower on the artificial Palm Jumeirah.
In a statement, Eric Trump, the son of the former president and the executive vice president of the Trump Organization, said that “We are proud to expand our presence in the region further through the launch of our iconic Trump Tower Dubai.”
Ziad El Chaa͏r, Chief Executive Officer of D͏ar Glob͏al, ͏said, “The grand launch of Trump Tower Dubai is an extraordinary addition to the Dubai luxury market and to Dar Global’s renowned hospitality and residential portfolio.”
