The Trump Organization unveiled plans on Monday to erect a new Trump Tower in Jeddah, Saudi Arabia, marking its inaugural venture in the country.
This expansion into the Middle East is a joint effort with a Saudi-owned developer, reflecting the organization's strategic growth initiatives. The move follows a significant $2 billion investment by the Saudi government in a fund linked to Jared Kushner, President Trump’s son-in-law.
Eric Trump, the executive vice president of the Trump Organization, expressed enthusiasm about the project, emphasizing their commitment to introducing the Trump brand of luxury to the region. “We are excited to broaden our presence in the Middle East and deliver the hallmark luxury, quality, and sophistication that define our developments,” he stated in a release. This collaboration with Dar Global aligns with their mutual vision of creating iconic landmarks.
In a separate development, Dar Global recently finalized a licensing agreement for a $500 million Trump International hotel complex in Oman. It's important to note that this venture is not under the ownership or management of the Trump Organization.
Saudi Crown Prince Mohammed bin Salman previously affirmed his intent to maintain the $2 billion investment in Kushner’s hedge fund, contingent on Trump's potential reelection.
