A new large facility is being built in Saudi Arabia in honor of Donald Trump. The development company Dar Global, in partnership with Trump Organization, has begun construction of the Trump Plaza Jeddah skyscraper in the center of Jeddah.
The complex is being built with an investment of one billion dollars. It will house premium housing, modern apartments, Class A offices, and exclusive townhouses.
Executive Vice President of Trump Organization Eric Trump:
"The Trump Plaza Jeddah project will further expand our presence in Saudi Arabia. We will create a world-class facility, combining hospitality, a modern lifestyle, and an active business environment."
The exact launch time of the new skyscraper is not specified. However, the project is being implemented at a time when the expensive residential and commercial real estate market in Saudi Arabia is growing sharply.
In 2024 alone, the kingdom allocated $1.3 trillion for the construction of more than a million new houses and seven million square meters of commercial and office buildings.
It's worth noting that the Trump family is also constructing another skyscraper in Saudi Arabia called Trump Tower Jeddah. This luxurious complex on the shore of the Red Sea is expected to be commissioned in 2028.
With the beginning of Donald Trump's second presidential term, Arab monarchies are directing commercial projects and large investments to gain his attention. During the visit to Riyadh in May of this year, agreements worth $600 billion were signed between Saudi Arabia and the US.
Neighboring Qatar has reportedly donated a $400 million luxury aircraft to Trump's satisfaction.
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