On Monday, July 1, the sons of former US President Donald Trump, Eric and Donald Jr. Trump, announced a new real estate project. The two businessmen have reportedly set their sights on the city of Jeddah, Saudi Arabia, to build a Trump Tower, modeled after its larger New York counterpart.
To carry out this project, the Trump Organization has entered into an agreement with real estate developer Dar Global, the international subsidiary of the Saudi company Dar al-Arkan.
According to The New York Times, the partnership is presented as a “branding” operation, based on leveraging the “Trump” brand and similar to those the company has undertaken over the past decade. Ultimately, the Trump Tower Jeddah will target “the Saudi luxury market and international investors,” according to a statement released by Dar Global.
The Conquest of the Middle East
After taking residence in the White House in 2017, Donald Trump entrusted the management of his real estate empire to some of his offspring, while retaining his shares in the company. Apparently having inherited their father’s business acumen, Eric Trump and Donald Jr. Trump are working to expand the company internationally.
“We are thrilled to expand our footprint in the Middle East and bring the Trump luxury standard to the region through our long-standing relationship with Dar Global,” said Eric Trump, Executive Vice President of the Trump Organization. “This collaboration embodies our shared vision of creating flagship projects synonymous with luxury, quality, and sophistication.“
This long-standing partnership with Dar Global has thus given rise to another grandiose project initiated by the American company. A few days before the announcement of the new Jeddah tower, the two entities had unveiled plans for a Trump International hotel complex located in Oman. Scheduled for December 2028, this five-star complex will include a nightclub, a golf course, and a members-only club. The construction will amount to $500 million, and although the Trump Organization does not own the hotel, Dar al-Arkan will still use the Trump name and logo under license.
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Featured Photo: © Presse
