Developer Dar Global has appointed the main contractor for Trump Tower on the Jeddah Corniche.
The SAR2 billion ($531 million) tower, located on the Red Sea coast, will be constructed by Arabian Construction Company (ACC) after completion of initial enabling works, Dar Global said in a statement.
In July 2024 Ziad El Chaar, CEO of London-listed Dar Global, said the new Trump Tower project in Jeddah aims to attract “more international investors and vacationers”.
The 47-storey Trump Tower Jeddah will become one of the tallest in the city, hosting the kingdom’s first Trump Club.
Completion is slated for December 2029, according to the Dar Global website.
Dar Global is a subsidiary and the global development arm of Saudi-listed developer Dar Al Arkan.
In September Dar Global announced a 1 million square metre mixed-use masterplan for central Jeddah that will include a Trump-branded complex.
The $1 billion Trump Plaza Jeddah will occupy a 28,000 sq m corner of the mixed-use masterplan for central Jeddah, which will include offices, residences, serviced apartments and townhouses, all organised around a park.
The Trump Organization also operates a Trump-branded golf course in Dubai, in partnership with Damac Properties.
Further reading:
- Saudi Arabia’s Dar Global launches Trump-branded Maldives resort
- Trump Tower Dubai construction to start this month
- Turkish developers target Saudi real estate market
In May Bloomberg reported that ACC had picked local and global banks for its proposed initial public offering.
Established in 1967, ACC is a family-owned business based in Abu Dhabi. It has developed Sheikh Zayed Grand Mosque and Emirates Palace in Abu Dhabi, and Dubai’s Address Sky View, Six Senses and Mashreq headquarters, according to its website.
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