Trump Tower deal announced in Jeddah as Saudi business ties grow
The Trump Organization recently unveiled a development in Oman, while Trump’s golf course is again hosting the Saudi-backed LIV Golf this year.
A Trump Tower is coming to Saudi Arabia, a regional developer announced on Monday as former President Donald Trump’s ties to the Gulf monarchy continue to grow.
Dar Global and the Trump Organization said in a statement that they have plans to develop a new project in Jeddah that will target “the luxury Saudi Arabian market and international investors.” The firms said there will be a Trump Tower in Jeddah, but did not specify plans for the development.
“We are thrilled to expand our footprint in the Middle East and bring the Trump standard of luxury to the region through our long-standing relationship with Dar Global,” said Trump Organization Executive Vice President Eric Trump.
Dar Global is a Dubai-based subsidiary of the Saudi real estate company Dar Al Arkan. The Trump Organization is owned by the former president and presumptive nominee of the Republican Party. His sons, Donald Trump Jr. and Eric Trump, both serve as executive vice presidents of the conglomerate.
Why it matters: The deal adds to Trump’s already considerable business interests in the Gulf. Last week, the Trump Organization and Dar Global unveiled Trump International Oman, a luxury hotel and golf course they plan to open in late 2028. The project was first announced in March.
On Tuesday, our @Trump team, led by EVP @EricTrump, collaborated with @dar_global to unveil Trump International Oman at AIDA. Opening in 2028, this 140-key, 5-star hotel complex transforms Oman’s landscape with an 18-hole golf course, members-only club, and Cliff Hanging Night… pic.twitter.com/44oJ5ZSd0r
— The Trump Organization (@Trump) June 28, 2024
Trump has hosted competitions for the Saudi Public Investment Fund-backed LIV Golf since the league started in 2022. LIV Golf held an event at the Trump National Doral course in April.
Saudi Arabia and China topped a list of 20 countries whose governments or state entities spent millions of dollars at Trump’s properties while he was in the Oval Office, the Wall Street Journal reported in January. The outlet, which cited records obtained by Democrats on the House Oversight Committee, reported that the spending included at least $210,000 in real estate and lodging fees paid by the kingdom in 2018.
In 2022, the New York Times reported that the private equity fund of Jared Kushner, Trump's son-in-law and former White House adviser, received $2 billion from the Public Investment Fund. Kushner defended the Saudi investment at an event in Miami this past February, saying he followed ethics rules and calling the fund one of the most prestigious in the world, the Associated Press reported at the time.
Know more: The New York Times reported in April that Trump spoke recently with Saudi Crown Prince Mohammed bin Salman. It was the first publicly disclosed conversation between the two since Trump left the White House in 2021, according to the outlet, which reported it was unclear what was discussed.
Trump forged ties with Prince Mohammed and Saudi Arabia during his presidency and approved billions of dollars in weapons sales to the kingdom. In 2017, the United States and Saudi Arabia signed a 10-year, $350-billion arms deal with Saudi Arabia. Two years later, Trump declared an emergency over tensions with Iran to bypass Congress and sell $8 billion in weapons to Saudi Arabia and the United Arab Emirates.
