Dar Global launches $1 billion Trump project at Jeddah, Saudi Arabia

Dar Global, a Saudi developer of real estate, plans to build the $1 billion Trump Plaza in Jeddah in Saudi Arabia as the family business of U.S. president Donald Trump expands into the Gulf.

Dar Global, in a press release, said that the project would be the second Trump development in the Kingdom after the launch last year of Trump Tower Jeddah.

Trump Organization has a large business in the United States but also significant interests in Saudi Arabia and United Arab Emirates. Dar Global, a division of Saudi Arabia's Dar Al Arkan Real Estate Development Company that is based in the United Arab Emirates, has been a partner on several projects. These include plans for Trump Towers in Dubai and Jeddah, as well as an investment project in Qatar.

Dar Global announced that the Jeddah Plaza development will feature premium residences, serviced apartments, office space, and exclusive townhouses. It also said the project would include a Central Park inspired park, which would run the length of the building.

The developer has not provided any further details about the expected completion date of the project. Reporting by Federico Maccioni Editing and Barbara Lewis by David Goodman

(source: Reuters)