Trump Jeddah Launch

Dar Global PLC

18 December 2024

 

For immediate release	18 December 2024
RNS Reach

Dar Global plc

('Dar Global', the 'Company' or the 'Group')

DAR GLOBAL AND THE TRUMP ORGANIZATION EXPAND COLLABORATION WITH THE LAUNCH OF SAR 2 BILLION TRUMP TOWER TO TRANSFORM JEDDAH'S SKYLINE

The striking 47-floor tower introduces a new era of luxury living, featuring unparalleled residences and the Kingdom's first members-only Trump Club

Dar Global, the London-listed luxury real estate developer, announces the launch of the prestigious Trump Tower Jeddah, a SAR 2 billion architectural masterpiece.  As announced in the Company's interim results, this partnership with the Trump Organization brings a new level of opulence and exclusivity to the Kingdom. Gracing Jeddah's Corniche, this 47-floor tower will stand as one of the city's tallest residential towers, introducing a new level of opulence and exclusivity to the Kingdom.

Strategically located near other iconic landmarks, Trump Tower Jeddah is more than just a residential project- it is a lifestyle revolution. Among its highlights is the Trump Club, the Kingdom's first ever members-only social club slated to be the ultimate destination for the city's elite; the club will provide an unparalleled blend of privacy, luxury, and exclusivity, serving as a dynamic hub for curated events, exceptional dining, and bespoke experiences tailored for its members.

The Trump Tower Jeddah is designed to meet the need for more vibrant developments, offering a diverse range of luxury residences with breathtaking views of the Red Sea. The project's thoughtfully crafted layouts, premium finishes, and world-class facilities including retail spaces, fitness centres, spas, and gourmet dining, promise an unmatched living experience. Integrating green spaces, enhanced parking solutions, and smart urban planning will ensure a seamless balance between luxury and environmental responsibility.

Ziad El Chaar, CEO of Dar Global, highlighted the project's pivotal role: "Jeddah is undergoing a remarkable evolution, moving from traditional housing to dynamic high-rises, mixed-use developments that reflect modern living preferences. Trump Tower Jeddah will be a key enabler of this shift, combining ultra-luxury with the vibrancy of modern life. Our ongoing collaboration with The Trump Organization not only redefines luxury living but also strengthens Jeddah's position as a world-class urban hub."

Eric Trump, Executive Vice President of The Trump Organization, added: "We are delighted to collaborate with Dar Global on our third project together, further expanding our footprint in the Middle East and growing the Trump standard of luxury in the region. Trump Tower Jeddah is a testament to our shared commitment to excellence and innovation. Together, we are creating a landmark project that reflects the vision and aspirations of Jeddah, offering an unparalleled residential and lifestyle experience that will set the standard in luxury for years to come."

This venture builds on the successful decade-long relationship between The Trump Organization and Ziad El Chaar and Dar Global, with projects such as the highly anticipated AIDA development in Oman, Trump International Resort, Golf Club & Residences, and the most recent announcement of Trump International Tower Dubai.

Among other projects, Dar Global is also working on a mega-development to construct 200 new residential villas in Riyadh. The company's debut in the Saudi market is part of its broader strategy to introduce its internationally recognized standards of luxury to Saudi Arabia's burgeoning real estate sector. With a proven track record across the Middle East and Europe, Dar Global is set to deliver unparalleled sophistication to a market increasingly defined by discerning, globally mobile buyers.

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Disclaimer: Trump Tower Jeddah is not owned, developed or sold by The Trump Organization or any of their current or former principals or affiliates. Dar Global PLC, the owner and developer of the property, uses the "Trump" name and mark under license, which license may be terminated or revoked according to its terms.

For further enquiries, please contact:

Dar Global plc

[e-mail]

Burson Buchanan (Financial Communications)	Tel: [phone]
Henry Harrison-Topham / Simon Compton	[e-mail] www.bursonbuchanan.com

Notes to editors:

Dar Global PLC is a highly differentiated international real estate business. It focuses predominantly on developing real estate projects comprising second homes for internationally mobile customers, in some of the most desirable locations across the Middle East and Europe, including downtown Dubai, Muscat in Oman, London and the Costa del Sol region in the South of Spain.

Dar Global was originally established to house and develop the international assets of Dar Al Arkan Real Estate Development PJSC ('DAARE'), a leading real estate developer in the Kingdom of Saudi Arabia.  Listed on the Saudi Stock Exchange since 2007, Dar Al Arkan has delivered over 15,000 residential units with total assets of c. US$9 billion.

The Company intends to expand its focus to hospitality assets. The aim is to acquire or build hotels and sell them after a period of three to five years of operation once the hotels or resorts' revenue streams stabilise. Target markets include Spain, Dubai, Maldives, Athens, Saudi Arabia and London.

Dar Global was admitted to the Main Market of the London Stock Exchange on 28 February 2023. For more information, please visit www.DarGlobal.co.uk

 

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