Saudi Arabia's real estate market is heating up, and the latest deal between London-listed developer Dar Global and the Trump Organisation is a clear sign. On September 29, Dar Global announced plans for Trump Plaza Jeddah, a $1 billion mixed-use project along King Abdulaziz Road in the city's core. The Trump Organisation's website lists it under its commercial portfolio as "coming soon," with details still trickling out but enough to spark interest from global investors.
This isn't a one-off. It's the second Trump-branded project in the Kingdom, hot on the heels of Trump Tower Jeddah, which launched sales in December 2024 and already has construction contracts in place. Dar Global, the international arm of Saudi heavyweight Dar Al Arkan, called the new venture "one of the most ambitious developments" it's tackled. Eric Trump, executive vice president of the Trump Organisation, echoed that, saying it blends "world-class hospitality, modern living, and dynamic business environments."
Building on Trump Tower Jeddah's Early Wins
Trump Tower Jeddah set the stage. The 47-story, SAR 2 billion ($533 million) tower on the Jeddah Corniche offers 1- to 4-bedroom apartments, penthouses, and a private Trump Club, all with Red Sea views. Sales kicked off strong last year, boosting Dar Global's shares and validating the Trump brand's pull in the region. By November, Dar Global handed a $531 million main works contract to Arabian Construction Company, after wrapping up foundations, clear progress on a project that's already drawing international buyers.
Ziad El Chaar, Dar Global's CEO, has pointed to this as proof of shifting tastes in Jeddah: from basic homes to high-rises with retail, spas, and green spaces. Investors took note, the Tower's quick uptake shows demand for branded luxury in a market where foreign ownership rules have loosened up.
Trump Plaza Jeddah
Residences, Offices, and a Green Core
Details on Trump Plaza are emerging, but the outline is solid. The $1 billion site will mix premium residences, serviced apartments, Grade-A offices, and townhouses. At its heart, a Central Park-style green spine running the full length, aiming to inject some Manhattan energy into Jeddah's urban fabric.
No firm timeline yet, Dar Global hasn't pinned down construction start or handover, but the project's scale fits Saudi's Vision 2030 push for tourism and non-oil growth. Jeddah, as the Kingdom's commercial gateway, gets a lift here: better offices could pull in businesses, while the residences target high-net-worth folks from abroad.
Saudi Arabia's Pull for Global Property Buyers
Foreign cash is flowing into Saudi real estate, up 37% in transactions last year, with residential sales jumping 38%. Vision 2030 is the driver, think NEOM, Red Sea resorts, and eased rules letting outsiders own property outright in spots like Jeddah. Events like Cityscape just locked in $63 billion in deals.
For investors, it's straightforward math, double-digit yields in premium spots, tax breaks, and a stable setup amid Gulf diversification. Trump projects add the brand premium, Dar Global's $7.5 billion pipeline across the UAE, Oman, Qatar, UK, Spain, and now deeper into Saudi shows the scale. Analysts see these as bets on maturity, Saudi's not just oil anymore, it's a hub for capital.
The Bigger Picture for Portfolios
Dar Global's tie-up with Trump isn't isolated, it's part of a Gulf push, including towers in Dubai and a Qatar venture. Last year alone, Trump licensing deals via Dar Global brought in $21.9 million for the family business. As President Trump's second term kicks off with a Saudi visit, these projects highlight deepening links.
Property pros should watch for pricing and tours, early movers in Jeddah have seen quick appreciation. In a market blending stability with upside, Trump Plaza Jeddah looks like a smart add for diversified holdings.
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Guy Watt
Omnia Research
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