"Grasping the World" Trump Family Expands to Saudi Arabia... Launches $14.6 Billion Luxury Resort Development

Reported by FT and Reuters
Collaboration with Local Saudi Real Estate Developer
Two Projects Launched in Riyadh and Jeddah

Donald Trump, President of the United States (center). Photo by Reuters Yonhap News

The Trump Organization, the family business of President Donald Trump, is launching a real estate development project worth a total of 10 billion dollars (approximately 14.6 trillion won) in collaboration with a local real estate developer in Saudi Arabia.

According to the Financial Times (FT) and Reuters, Saudi real estate developer Dar Global announced on January 11 (local time) that it will undertake two projects with the Trump Organization in the capital city of Riyadh and in Jeddah. Both projects are expected to be completed over the next four to five years.

The Riyadh project involves constructing a golf course, luxury hotel, and premium residences in the Diriyah area on the outskirts of Riyadh, with a project size of 7 billion dollars. This project is part of the larger Diriyah Project, a massive 63 billion dollar development supported by the Saudi Public Investment Fund (PIF).

The two companies will also build "Trump Plaza" in Jeddah. This 3 billion dollar project will create a complex building that includes offices, luxury apartments, and townhouses. FT described this as "part of the 'Manhattan Project'," noting that "it evokes the president’s real estate career in New York."

Eric Trump, the president’s second son and Executive Vice President of the Trump Organization, stated, "We are extremely proud to expand our presence through landmark development in Wadi Safar," adding, "We look forward to achieving our goal of delivering a world-class luxury lifestyle."

This announcement comes after Saudi Arabia's de facto ruler, Crown Prince Mohammed bin Salman, met with President Trump at the White House in November of last year and agreed to cooperate in areas such as defense, artificial intelligence (AI), and nuclear energy.

FT reported, "Following President Trump’s return to the White House, as the Trump Organization’s activities have increased in Saudi Arabia and the Gulf region, opposition groups have raised criticism that the president’s family is leveraging its relationships with oil-producing countries for private gain."