Dubai: Dar Global will be wasting no time in going ahead with a Trump Tower in Dubai. In fact, this should be the first tower project of the brand to launch after Donald Trump assumes the US presidency for a second time on January 20.
Dar Global’s CEO Ziad El Char is keeping the location and other details of the Dubai project under warps for the moment. “We are looking at a Q2-25 launch – I feel doing the launch in Q1-25 would be a bit tight,” said El Chaar. “As for the location, it will be in the wider Downtown area, with views of the Burj Khalifa and of the sea.
“I can tell you that this will be one of the most iconic towers in the area.” (That’s saying something for a location that already has its fair share of standout developments.)
The Dh2 billion plus project will also feature the ‘first Trump hotel in Dubai’.
When it gets to launch time, it marks the culmination of an effort spread over several points in the last 20 years to launch a Trump Tower in Dubai. A project was in fact announced on the Palm Jumeirah, but then the 2008 Global Financial Crisis happened and that got scrapped. Since then, there have been other Trump-branded projects in Dubai, but never a tower bearing the name.
In a matter of months, that issue should be settled for good.
Jeddah gets its own Trump Tower
Dar Global is getting into over-drive when it comes to projects in alliance with The Trump Organization. Last week, the launch of the Trump Tower in Jeddah took place, which will by 2029 create a 200-metre high-rise with 47 floors and 500 luxury apartments priced between SR4 million to SR50 million.
The project cost? That could end up in the region of SR2 billion. The built up area would be around 1.5 million square feet.
On whether the cost of development wasn’t slightly on the higher side, even for a premium project such as this, El Chaar said: “Don’t go by just the height of 200 metres. It’s a big project being created, with a land of 120,000 square feet in one of the prime spots in Jeddah. It’s in the heart of the Corniche area, very close to the Formula 1 race area.”
The land was acquired in June last. Enabling works on the site will commence next month, and for the construction sector in Saudi Arabia, this adds to an already busy schedule of contracts coming through.
“There will also be a first private member’s club with the Trump name at the Jeddah Tower, said El Chaar. “And with all the amenities that one would expect from such institutions found in New York or London
More Trump projects coming in Saudi Arabia
The Dar Global alliance with The Trump Organization has more coming up in Saudi Arabia. There will be another high-rise in Riyadh as well as a community built around a signature golf course.
“We are continuously looking for new projects that can deserve the brand ‘Trump’ and will satisfy potential owners and users,” said El Chaar. “From our side, we will always like to collaborate and propose to The Trump Organization on more projects. They will eventually select if they want to. For now, the focus is on launching the Riyadh projects.”
