Dar Global signs deal with Trump Organisation to build Trump Tower in Dubai
Trump Tower, with a hotel and branded residences, is set to open in 2025
Dubai: The global development arm of Saudi-listed Dar Al Arkan, Dar Global, announced Thursday that it has partnered with the Trump Organization to launch Trump Tower Dubai in 2025. Dar Global revealed in a statement that the property will be situated in a prime location in Dubai, without specifying where.
The location and design will be unveiled towards the end of 2024. The cost of the development was not revealed. This would be Dar Global’s third collaboration with the Trump Organisation.
Eric Trump, Executive Vice President, The Trump Organization, said, “We are proud to expand our presence in the region further through the launch of our iconic Trump Tower Dubai in collaboration with the world-class luxury developer Dar Global.”
The property will feature the Trump Hotel Dubai and branded residential units featuring amenities and world-class services, read the statement. The property will also introduce The Trump Private - an exclusive members-only club.
Ziad El Chaa͏r, Chief Executive Officer of D͏ar Glob͏al, ͏said, “The grand launch of Trump Tower Dubai is an extraordinary addition to the Dubai luxury market and to Dar Global’s renowned hospitality and residential portfolio.”
El Chaar said, “This unique luxury project will enhance our track record of creating bespoke landmark properties in the region and contribute to elevating Dubai's skyline while highlighting the city's reputation ͏as a worldwide beacon of excellence and sophistication Trump Tower Dubai will be an iconic project that is bound to redefine luxury living in Dubai, while attracting a global audience.”
Last month, Dar Global launched the $500 million Trump International Resort, Golf Club, and Residences at its Aida project in Oman. Listed on the London Stock Exchange, Dar Global currently has $5.9 billion worth of projects under development in six countries, including the UAE, Oman, Qatar, the UK, Spain, and Bosnia. In 2005, Nakheel and the Trump Organization announced the Palm Trump International Hotel and Tower on Palm Jumeirah; however, the project did not proceed.