Trump Tower Set to Become a New Landmark in Saudi Arabia’s Luxury Market – TK

Trump Tower Set to Become a New Landmark in Saudi Arabia’s Luxury Market

The Trump Organization has announced plans to develop an imposing Trump Tower in Jeddah, Saudi Arabia. This ambitious project aims not only to capture Saudi Arabia’s luxury market but also to attract international investors interested in high-end properties.

Advertisment

The construction of the tower will be undertaken in partnership with Dar Global, the international division of the renowned Saudi developer Dar Al Arkan. If realized, this project will mark the Trump Organization’s first major development in Saudi Arabia, further solidifying its presence in the region.

Eric Trump, Executive Vice President of the Trump Organization and son of former President Donald Trump, expressed his enthusiasm for the announcement, stating: “We are excited to expand our presence in the Middle East and bring the Trump luxury standard to the region through our longstanding relationship with Dar Global.”

The Trump Tower in Jeddah promises to be an architectural landmark and a symbol of sophistication, highlighting the growing influence and appeal of the Trump brand in the global luxury market.

Dar Global emphasized that the project aims to cater to “Saudi Arabia’s luxury market and international investors,” underlining the ambition to create an architectural icon and a hallmark of sophistication in the region. The completion of the tower will represent the Trump Organization’s first significant venture in Saudi Arabia.

This announcement comes just days after the inauguration of a $500 million Trump International hotel complex in Oman. The five-star hotel, slated to open in December 2028, will feature a nightclub, a golf course, and an exclusive members-only club. However, the hotel is operated under a licensing agreement for the use of the Trump name and logo granted by Dar Al Arkan and is not directly owned by the Trump Organization.

The Trump Organization’s expansion in the Middle East raises questions about potential conflicts of interest, particularly given speculations that former President Donald Trump may return to the White House. The ongoing relationship between the Trump brand and large-scale projects in the region could spark debates about political influence and business ethics.

The expansion has also generated significant concerns. Donald K. Sherman, Senior Vice President and Chief Counsel of Citizens for Responsibility & Ethics in Washington (CREW), voiced concerns over national security and potential conflicts of interest. In a statement to CNN, Sherman said: “The Trump Organization’s continued pursuit of foreign business deals raises serious national security, corruption, and constitutional concerns.” He highlighted that Saudi Arabia, in particular, has a history of attempting to influence Donald Trump, intensifying these issues.

Sherman further warned that if Trump were to return to the presidency, he would likely violate the Constitution’s Foreign Emoluments Clause, as he allegedly did during his first term. A 2023 CREW analysis revealed that Trump received at least $9.6 million from Middle Eastern countries during his presidency, heightening concerns about the integrity and ethics of his international business activities.

The Trump Organization is privately owned, listing Donald Trump as its sole beneficiary, and is managed by his sons, Donald Trump Jr. and Eric Trump. Last year, the Trump Organization was fined $1.6 million by a New York judge due to a decade-long tax fraud scheme. Two Trump-linked entities were convicted of 17 crimes, including tax fraud and falsifying business records.

The Trump campaign did not immediately respond to a request for comment regarding these newly raised concerns. Additionally, an investment firm led by Jared Kushner, Trump’s son-in-law and former senior adviser on foreign policy, secured a $2 billion investment from Saudi Arabia’s sovereign wealth fund, adding another layer of complexity and potential implications for the Trump brand’s international expansion.

Last month, Democratic Senator Ron Wyden, Chair of the Senate Finance Committee, launched an investigation into the investment firm led by Jared Kushner. Wyden expressed concern that investments in Kushner’s firm could create “significant conflicts of interest and potential counterintelligence risks,” underscoring the complex implications and potential risks associated with the growing influence of the Trump and Kushner families in the Middle East. The Trump campaign has yet to respond to a request for comment on these issues.

Trump Tower: A New York Icon and Beyond

Located in Midtown Manhattan, New York, Trump Tower is one of the city’s most iconic landmarks. Opened in 1983, the 58-story, 202-meter-tall skyscraper was designed by architect Der Scutt and is renowned for its gold-tinted glass facade and elegant design. Developed by the Trump Organization, the tower symbolizes luxury and prestige, reflecting the image of success promoted by Donald Trump.

The building combines office spaces, private residences, and retail shops, occupying one of New York’s most prestigious areas on Fifth Avenue. The Trump Tower’s interior is notable for its grand marble-clad lobby and a central atrium surrounded by shops and offices.

Trump Tower helped establish the Trump brand in the luxury real estate market, becoming an icon of the opulent lifestyle promoted by the organization. Beyond its commercial impact, the building has also been at the center of political controversies, particularly during Donald Trump’s presidency. Ethical concerns and conflicts of interest related to the property have been widely debated.

The Trump brand has expanded its international influence with projects like Trump Towers in Istanbul and Mumbai, aiming to replicate the success of the original tower. These developments seek to convey the prestige associated with the Trump name, maintaining an image of luxury and sophistication.

Trump Tower remains a significant symbol in the world of real estate and architecture, representing both the rise of the Trump brand and the challenges associated with its legacy. As a major landmark in New York, the tower not only defines the city’s skyline but also continues to influence the global luxury property market and architectural design.

Picture of Aarushi Sharma
Aarushi Sharma

an editor at TK since 2024.

DISCLAIMER:

You will never be asked to make a payment to access any kind of product, including credit cards, loans, or other offers. If this happens, please contact us immediately. Always read the terms and conditions of the service provider you are contacting. We earn revenue through advertising and referrals for some, but not all, products displayed on this website. Everything published here is based on quantitative and qualitative research, and our team strives to be as fair as possible in comparing competing options.

ADVERTISER DISCLOSURE:

We are an independent, objective, and advertising-supported editorial site. To support our ability to provide free content to our users, recommendations appearing on our site may come from companies from which we receive compensation as affiliates. This compensation may affect the manner, location, and order in which offers appear on our site. Other factors, such as our own proprietary algorithms and first-party data, may also affect how and where products/offers are placed. We do not include on our website all financial or credit offers currently available in the market.

EDITORIAL NOTE:

The opinions expressed here are solely those of the author and do not represent any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved, or endorsed by any of the entities mentioned in the message. That said, the compensation we receive from our affiliate partners does not influence the recommendations or advice that our team of writers provides in our articles, nor does it in any way affect the content of this website. Although we work hard to provide accurate and up-to-date information that we believe our users will find relevant, we cannot guarantee that all provided information is complete and make no statement or warranty regarding its accuracy or applicability.