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Saudi developer collaborates with Trump Organization for Jeddah Tower project
(MENAFN) Dar Global, the international arm of Saudi real estate developer Dar Al Arkan, has announced a strategic partnership with the Trump Organization to construct a high-rise tower in Jeddah, a coastal city in Saudi Arabia. The project, known as the Trump Tower Jeddah, aims to showcase the Kingdom's luxury real estate market and attract international investors to contribute to Saudi Arabia's economic diversification efforts.
In a statement released late Monday, Dar Global emphasized the project's goal of enhancing the Kingdom's stature in the global luxury market. This initiative underscores Saudi Arabia's ambitious plans to bolster its real estate sector and promote economic growth through international collaborations.
Since assuming office in 2017, former US President Donald Trump entrusted the management of his extensive real estate empire to his sons while maintaining ownership of his shares. His business dealings abroad have often sparked scrutiny and criticism, particularly regarding potential conflicts of interest. A congressional report in 2022 highlighted concerns over foreign governments, including Saudi Arabia, spending substantial sums at Trump-owned properties in attempts to influence the administration during Trump's tenure.
During his presidency, Trump cultivated close ties with Riyadh, designating Saudi Arabia as his first international visit destination after assuming office. These connections have continued to shape business ventures involving the Trump Organization in the Gulf region, including the latest development in Jeddah.
The partnership between Dar Al Arkan's Dar Global and the Trump Organization underscores a significant collaboration aimed at advancing Saudi Arabia's real estate sector and fostering economic ties with global investors, amidst ongoing international scrutiny and political dynamics.
In a statement released late Monday, Dar Global emphasized the project's goal of enhancing the Kingdom's stature in the global luxury market. This initiative underscores Saudi Arabia's ambitious plans to bolster its real estate sector and promote economic growth through international collaborations.
Since assuming office in 2017, former US President Donald Trump entrusted the management of his extensive real estate empire to his sons while maintaining ownership of his shares. His business dealings abroad have often sparked scrutiny and criticism, particularly regarding potential conflicts of interest. A congressional report in 2022 highlighted concerns over foreign governments, including Saudi Arabia, spending substantial sums at Trump-owned properties in attempts to influence the administration during Trump's tenure.
During his presidency, Trump cultivated close ties with Riyadh, designating Saudi Arabia as his first international visit destination after assuming office. These connections have continued to shape business ventures involving the Trump Organization in the Gulf region, including the latest development in Jeddah.
The partnership between Dar Al Arkan's Dar Global and the Trump Organization underscores a significant collaboration aimed at advancing Saudi Arabia's real estate sector and fostering economic ties with global investors, amidst ongoing international scrutiny and political dynamics.
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