Trump Org, Dar Global Unveil $10B Saudi Projects Amid Market Liberalization
Overview
Trump Organization and Dar Global Plc are launching sales for $10 billion in Saudi real estate projects, including the Trump International Golf Club Wadi Safar in Riyadh. This move capitalizes on impending regulatory changes easing foreign property ownership and investment, aligning with Saudi Vision 2030's goal to boost foreign capital.
Saudi Real Estate Push
The Trump Organization and luxury developer Dar Global Plc are commencing sales for real estate projects in Saudi Arabia valued at $10 billion. This strategic launch is timed to coincide with new regulations set to liberalize foreign investment in the sector.
Project Details Emerge
Sales begin this week for the Trump International Golf Club Wadi Safar in Riyadh, a sprawling development featuring a Trump-branded hotel, golf course, and premium residences. The $1 billion Trump Plaza project in Jeddah is also part of the initial sales push. Dar Global CEO Ziad El Chaar expressed strong expectations for demand from both local and international buyers.
Vision 2030 Alignment
The initiatives are closely tied to Saudi Arabia's Vision 2030 diversification agenda, which seeks to significantly increase foreign investment and reduce reliance on oil revenue. By easing rules on foreign property ownership, including potentially in holy cities like Mecca and Madinah, regulators aim to attract substantial capital.
Global Ambitions
Dar Global, the London-listed unit of Saudi developer Dar Al Arkan, views these reforms as critical to accelerating partnerships. Beyond Saudi Arabia, the Trump Organization and Dar Global have ongoing projects in Oman and Qatar, and are developing the Trump International Hotel & Tower in Dubai. Eric Trump, executive vice president of the Trump Organization, noted the Gulf's robust real estate environment.
