The Trump Organization is moving ahead with a second residential project in Jeddah — bringing the total value of its real estate ambitions in the kingdom to more than $10 billion — after rapid early sales at its first development in the city, executive vice president Eric Trump told Semafor.
“The second we launched it, sales absolutely soared,” Trump said in an interview.
Alongside Jeddah, the company is putting its name on a golf and residential community in Diriyah — a $63 billion, Public Investment Fund–backed development on the outskirts of Riyadh that’s being developed into a cultural and tourist destination — in partnership with Dar Global, the international arm of a Saudi-based property developer.
Dar Global CEO Ziad El Chaar said the Diriyah project will include 500 mansions, priced between $6.7 million and $24 million. The company also launched a $1 billion project in Jeddah on Monday.
The Saudi push comes as the kingdom pours more than $1.3 trillion into real estate and infrastructure, including at five giga-projects: NEOM, Red Sea, ROSHN, Diriyah, and Qiddiyah.