Dar Global Initiates Work on Trump Tower Jeddah
Deal News | Feb 02, 2025 | Zawya
London-listed Dar Global has commenced the construction of the Trump Tower Jeddah, a landmark project with a substantial investment of $531 million (2 billion Saudi riyals). The enabling works contract has been awarded to Specialised Italian Foundation Company (SIFCO), renowned for its deep foundations expertise. This 47-storey tower, situated on Jeddah's Corniche, will host the Trump Club, the country's first-ever members-only social club. Dar Global is the international arm of Saudi-listed Dar Alarkan Real Estate Development Company, which is also engaged in a major project in Riyadh, constructing 200 premium residential villas.
Sectors
- Real Estate Development
- Construction
- Leisure and Hospitality
Geography
- Saudi Arabia – The article focuses on the development of Trump Tower Jeddah and a villa project in Riyadh, highlighting geographical activities in Saudi Arabia.
- United Kingdom – Dar Global is listed in London, reflecting its ties to the United Kingdom's financial markets.
Industry
- Real Estate Development – This industry involves the construction and management of buildings and properties. Dar Global and its parent company, Dar Alarkan, are real estate developers involved in large-scale projects like Trump Tower Jeddah.
- Construction – The construction industry is significant here as the project involves significant construction activity, with SIFCO being contracted for enabling works involving deep foundations.
- Leisure and Hospitality – Trump Tower Jeddah will house Trump's Club, a members-only social club, indicating involvement in the leisure and hospitality sector.
Financials
- $531 million – The total investment in the Trump Tower Jeddah project, stated in the article.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Dar Global | Target Company | Company | Dar Global is the international arm of Dar Alarkan, listed on the London Stock Exchange and overseeing global projects like the Trump Tower Jeddah. |
| Dar Alarkan Real Estate Development Company | Parent Company | Company | Saudi-listed company involved in real estate development, owning Dar Global. |
| Specialised Italian Foundation Company (SIFCO) | Construction Contractor | Company | Founded in 2008, SIFCO specializes in deep foundations and has been contracted for the enabling works of Trump Tower Jeddah. |