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Saudi real estate developer Dar Global has unveiled plans to build a $1bn Trump Plaza project in the Red Sea port city of Jeddah, as US President Donald Trump’s family business expands its footprint in the Gulf.
The project will include offices, premium residences, serviced apartments and town houses, and is part of a larger scheme called the “Manhattan” master plan that will also feature a Central Park-inspired park, the company said.
The plans follow Trump’s visit to Saudi Arabia and its neighbours in May, in the first foreign trip of his second term that included stops in Qatar and the United Arab Emirates. Trillions of dollars in investments and business deals, from defence to artificial intelligence, were announced during the trip.
The Trump Organization is also working with Dar Global on projects in the UAE and Oman. Dar Global will also get a licence to use the Trump name in branded golf club and luxury villas north of Doha, as part of a development led by Qatari state company Qatari Diar.
The Trump Organization — now managed by the president’s son Eric — is increasing activities in the region, raising concern among critics that Donald Trump’s family is using his deep ties with Gulf leaders to benefit financially while he’s in office.
The deal also comes as the Trump administration struggles to achieve one of its key foreign policy objectives — convincing Saudi Arabia to normalise diplomatic ties with Israel. The kingdom has condemned Israel’s war in Gaza and said it would not normalise relations without the establishment of a Palestinian state.
The latest project in Jeddah will be built on a 1mn square metres piece of land that Saudi-listed Dar Al Arkan, of which Dar Global is a subsidiary, purchased with other partners this year in a deal worth $1.19bn. That was a record-breaking land transaction for the city. Dar Global launched a $533mn Trump Tower Jeddah last December.
“This is truly a once-in-a-lifetime development opportunity,” Dar Al Arkan chair Yousef al-Shelash said in a statement.
