RCS - Dar Global PLC - Trump Jeddah Launch

Dar GlobalAnnouncement

18/12/2024 07:00

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RNS Number : 4856Q  Dar Global PLC  18 December 2024

 For immediate release  18 December 2024

 RNS Reach

 

Dar Global plc

('Dar Global', the 'Company' or the 'Group')

 

DAR GLOBAL AND THE TRUMP ORGANIZATION EXPAND COLLABORATION WITH THE LAUNCH OF
SAR 2 BILLION TRUMP TOWER TO TRANSFORM JEDDAH'S SKYLINE

 

The striking 47-floor tower introduces a new era of luxury living, featuring
unparalleled residences and the Kingdom's first members-only Trump Club

 

Dar Global, the London-listed luxury real estate developer, announces the
launch of the prestigious Trump Tower Jeddah, a SAR 2 billion architectural
masterpiece.  As announced in the Company's interim results, this partnership
with the Trump Organization brings a new level of opulence and exclusivity to
the Kingdom. Gracing Jeddah's Corniche, this 47-floor tower will stand as one
of the city's tallest residential towers, introducing a new level of opulence
and exclusivity to the Kingdom.

 

Strategically located near other iconic landmarks, Trump Tower Jeddah is more
than just a residential project- it is a lifestyle revolution. Among its
highlights is the Trump Club, the Kingdom's first ever members-only social
club slated to be the ultimate destination for the city's elite; the club will
provide an unparalleled blend of privacy, luxury, and exclusivity, serving as
a dynamic hub for curated events, exceptional dining, and bespoke experiences
tailored for its members.

 

The Trump Tower Jeddah is designed to meet the need for more vibrant
developments, offering a diverse range of luxury residences with breathtaking
views of the Red Sea. The project's thoughtfully crafted layouts, premium
finishes, and world-class facilities including retail spaces, fitness centres,
spas, and gourmet dining, promise an unmatched living experience. Integrating
green spaces, enhanced parking solutions, and smart urban planning will ensure
a seamless balance between luxury and environmental responsibility.

 

Ziad El Chaar, CEO of Dar Global, highlighted the project's pivotal role:
"Jeddah is undergoing a remarkable evolution, moving from traditional housing
to dynamic high-rises, mixed-use developments that reflect modern living
preferences. Trump Tower Jeddah will be a key enabler of this shift, combining
ultra-luxury with the vibrancy of modern life. Our ongoing collaboration with
The Trump Organization not only redefines luxury living but also strengthens
Jeddah's position as a world-class urban hub."

 

Eric Trump, Executive Vice President of The Trump Organization, added: "We are
delighted to collaborate with Dar Global on our third project together,
further expanding our footprint in the Middle East and growing the Trump
standard of luxury in the region. Trump Tower Jeddah is a testament to our
shared commitment to excellence and innovation. Together, we are creating a
landmark project that reflects the vision and aspirations of Jeddah, offering
an unparalleled residential and lifestyle experience that will set the
standard in luxury for years to come."

 

This venture builds on the successful decade-long relationship between The
Trump Organization and Ziad El Chaar and Dar Global, with projects such as the
highly anticipated AIDA development in Oman, Trump International Resort, Golf
Club & Residences, and the most recent announcement of Trump International
Tower Dubai.

 

Among other projects, Dar Global is also working on a mega-development to
construct 200 new residential villas in Riyadh. The company's debut in the
Saudi market is part of its broader strategy to introduce its internationally
recognized standards of luxury to Saudi Arabia's burgeoning real estate
sector. With a proven track record across the Middle East and Europe, Dar
Global is set to deliver unparalleled sophistication to a market increasingly
defined by discerning, globally mobile buyers.

- Ends -

 

Disclaimer: Trump Tower Jeddah is not owned, developed or sold by The Trump
Organization or any of their current or former principals or affiliates. Dar
Global PLC, the owner and developer of the property, uses the "Trump" name
and mark under license, which license may be terminated or revoked according
to its terms.

 

 

For further enquiries, please contact:

 

 Dar Global plc  IR@darglobal.co.uk

 

 Burson Buchanan (Financial Communications)  Tel: +44 (0) 20 7466 5000
 Henry Harrison-Topham / Simon Compton       darglobal@buchanancomms.co.uk

                                             www.bursonbuchanan.com (http://www.bursonbuchanan.com)

 

Notes to editors:

 

Dar Global PLC is a highly differentiated international real estate business.
It focuses predominantly on developing real estate projects comprising second
homes for internationally mobile customers, in some of the most desirable
locations across the Middle East and Europe, including downtown Dubai, Muscat
in Oman, London and the Costa del Sol region in the South of Spain.

 

Dar Global was originally established to house and develop the international
assets of Dar Al Arkan Real Estate Development PJSC ('DAARE'), a leading real
estate developer in the Kingdom of Saudi Arabia.  Listed on the Saudi Stock
Exchange since 2007, Dar Al Arkan has delivered over 15,000 residential units
with total assets of c. US$9 billion.

 

The Company intends to expand its focus to hospitality assets. The aim is to
acquire or build hotels and sell them after a period of three to five years of
operation once the hotels or resorts' revenue streams stabilise. Target
markets include Spain, Dubai, Maldives, Athens, Saudi Arabia and London.

 

Dar Global was admitted to the Main Market of the London Stock Exchange on 28
February 2023. For more information, please visit www.DarGlobal.co.uk
(http://www.DarGlobal.co.uk)

 

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