The Trump Organization has finalized a $1 billion agreement to develop a large-scale, mixed-use project in Jeddah, Saudi Arabia. The development, named "Trump Plaza Jeddah," is a partnership with the London-based real estate company Dar Global and will be situated along the city's Red Sea coastline.
Key Takeaways
- The Trump Organization and Dar Global have partnered on a $1 billion real estate project in Jeddah, Saudi Arabia.
- Named "Trump Plaza Jeddah," the development is inspired by New York's Central Park and will include luxury residences, apartments, and office space.
- This is the second major Trump-branded project announced for Jeddah, following the unveiling of "Trump Tower Jeddah" in 2023.
- The deal has drawn scrutiny from critics, who point to potential ethical conflicts and Donald Trump's relationship with Saudi Crown Prince Mohammed bin Salman.
Project Details and Design
The newly announced "Trump Plaza Jeddah" is a significant expansion of the Trump family's business interests in Saudi Arabia. According to statements from the developers, the project is designed to be a sprawling complex that combines residential, commercial, and hospitality elements.
The development plan includes a variety of high-end properties. These consist of upscale residences, serviced apartments, exclusive townhouses, and modern office spaces. The project's central design feature is a large "green corridor" intended to emulate the feel of Manhattan's Central Park. Dar Global stated the goal is to "bring the essence of Manhattan to Jeddah."
This green space will serve as an anchor for the surrounding residential and commercial buildings, creating a unique urban environment within the port city. The project marks the second major venture for the Trump Organization in Jeddah, signaling a deepening commitment to the region's luxury real estate market.
A Growing Partnership
This development is not the first collaboration between the Trump Organization and Dar Global in the region. In 2022, the two companies announced a project in Oman involving a Trump-branded hotel, villas, and a golf course as part of a $4 billion development. The Jeddah projects represent a continuation of this strategic partnership.
Executive Vision for the Development
Leaders from both the Trump Organization and Dar Global have expressed high ambitions for the project. They position it as a landmark development for both Jeddah and the broader Saudi Arabian market.
In a statement regarding the deal, Eric Trump, the executive vice president of the Trump Organization, described the project in glowing terms. He emphasized its scale and luxury components.
"Trump Plaza Jeddah is a visionary destination that blends luxury living, world-class hospitality, and dynamic business spaces," Eric Trump said, framing the development as a symbol of prestige and modernity.
Ziad El Chaar, the CEO of Dar Global, echoed this sentiment, highlighting the project's significance within the kingdom's development landscape. He described the initiative as "one of the most ambitious undertakings in Saudi Arabia," underscoring its intended opulence and large scale.
Ethical Scrutiny and Political Context
The expansion of the Trump Organization's business in Saudi Arabia has not been without controversy. Critics and ethics watchdogs have raised concerns about the implications of a former U.S. president's family profiting from business ties with the kingdom.
These concerns are often linked to the well-publicized relationship between Donald Trump and Saudi Crown Prince Mohammed bin Salman. The Crown Prince's tenure has been marked by international criticism over several key issues.
Points of International Concern
- Yemen Conflict: Saudi Arabia's military intervention in Yemen, which began in 2015, has led to a severe humanitarian crisis and widespread condemnation.
- Jamal Khashoggi's Assassination: The 2018 killing of Washington Post journalist Jamal Khashoggi inside the Saudi consulate in Istanbul drew global outrage. U.S. intelligence concluded that the Crown Prince approved the operation.
- Domestic Human Rights: Human rights organizations have criticized the kingdom for an escalating crackdown on dissent, including the targeting of its Shia Muslim minority and political activists.
Despite these controversies, the Trump Organization has continued to pursue business opportunities in the region and globally. The company's international portfolio includes projects in various countries, demonstrating a consistent strategy of global brand expansion.
The Trump Organization's Global Real Estate Portfolio
The Jeddah deal is part of a larger international business strategy for the Trump Organization. The company has licensed its name and managed properties in numerous countries for decades, creating a global network of branded real estate.
Outside of the United States and the Middle East, the organization's portfolio includes developments in a diverse range of nations. According to reports, these projects span multiple continents.
International Presence
The company's global footprint includes, but is not limited to, projects in the following countries:
- Turkey
- Canada
- South Korea
- The United Arab Emirates
- Mexico
- India
- The Philippines
This latest $1 billion venture in Saudi Arabia represents one of the most significant international deals for the company in recent years, further cementing its presence in the rapidly developing West Asia region.
