Latest news with #DarGlobal
The National
3 days ago
- Business
- The National
Developer expects $1bn Trump Tower in Dubai to sell out by end of summer
All units at Dubai's Trump International Hotel and Tower are expected to be sold by the end of summer amid high demand from buyers, the developer has said. The $1 billion development was launched in April by Dar Global, the international property arm of Saudi Arabia's Dar Al Arkan, in partnership with the Trump Organisation, the sprawling conglomerate of the family of US President Donald Trump. The project, which is being built near Downtown Dubai on Sheikh Zayed Road, is expected to be completed in five years. The development features more than 500 homes, with two penthouses costing Dh75 million ($20.4 million) each and three to four-bedroom apartments priced between Dh4 million and Dh5 million. It also has a Trump-branded hotel and a clubhouse. 'Sales have been strong, [there has been] very good reception for the brand, for the mix and the location,' Ziad El Chaar, Dar Global's chief executive, told The National in an interview. He did not say how many units have been sold so far. 'We have approximately 40 nationalities who are investing in the project including people from India, Pakistan, the UK, some investors from Arab countries such as Saudi Arabia, Lebanon, Iraq, Kuwait, Oman and from Eastern Europe, Turkey, Romania and Russia," he added. Dubai's residential sector continues to perform strongly, with the emirate recording 17,504 transactions in May, a 15.1 per cent month-on-month increase, while total sales value for the month surged to Dh54.48 billion, up 18 per cent on the previous month, according to Betterhomes. Average price per square foot also climbed 4.5 per cent on a monthly basis to Dh1,808 in May, data shows. Strong economic growth combined with government measures such as residency permits for retired and remote workers, and an expansion of 10-year golden visa programme has helped boost the property market in the emirate. "Prices are going up because there are a lot of clear fundamentals in the market," Mr El Chaar said. "You have economic demand, you have economic attraction. You have a lot of facilitation on golden visas. These days, you have a big increase in traffic at the airport, which means people are not just speculating online, they are here, they are in the market. "At the same time, we have a lot of people who are flying from high tax areas, coming to domicile in the UAE, plus you also have new activities happening that are bringing more people to the country, especially with the gaming [resort] opening in Ras Al Khaimah." Partnership with Trump Organisation to continue Dar Global, with a property portfolio worth $10 billion in the UAE, Oman, Saudi Arabia, the UK and Spain, plans to continue building new projects in partnership with the Trump Organisation, which is managed by Mr Trump's sons, Donald Jr and Eric Trump. 'We have announced seven projects in two years [with the Trump Organisation] and this successful collaboration will continue,' Mr El Chaar said. Dar Global is currently building two new projects in Oman, a hotel and a residential development, as well as a Trump tower in Jeddah, the Trump International Hotel and Tower in Dubai and a new project in Doha that was unveiled last month. The company has also committed to building two new residential projects in Riyadh with the Trump Organisation and is expected to finalise another in the Saudi capital by the end of the year. Abu Dhabi expansion Dar Global is "aggressively pursuing" entering the Abu Dhabi market. "We are in continuous discussions with a lot of parties in Abu Dhabi to find the right project," Mr El Chaar said. "We are very much interested to launch in Abu Dhabi because we believe the market has now enough attractants to bring in the investors from outside, and some within Abu Dhabi, and we would like to put our flag in the market."
Al Arabiya
10-06-2025
- Business
- Al Arabiya
Saudi housing minister on sustainable growth and DarGlobal CEO on HNWI investor demands
In this episode of The Riyal Deal, Tom Burges Watson speaks exclusively with the CEO of DarGlobal, Ziad El Chaar on how the international arm of the Saudi company Dar Al Arkan is finding a growing demand for luxury housing at home in Saudi Arabia, how the Kingdom is attracting a growing number of high net worth individuals, and the appeal of the Trump brand. Separately, the Saudi Housing Minister Majid Al-Hogail tells Al Arabiya English the plans in place to sustainably grow the sector and attract investments. Ali Raza, Strategic Advisor to the Saudi Arabia Holding Company provides an overview of the sector and its potential in the long term. Guests:
Newsweek
07-06-2025
- Business
- Newsweek
How Trump Middle East Hotel Planned For 2028 Will Look
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Donald Trump's signature brand has announced plans for a new hotel to be built in Oman as part of the company's expansion in the Middle East. The Trump Organization has partnered with Oman's state-run tourism department, the Omran Group, to design and build the Trump International Oman Hotel before the end of the decade. Newsweek contacted the Trump Organization for more information via email. The Context The Trump Organization is investing heavily in Middle Eastern construction over the next decade, with major construction projects in Saudi Arabia and the UAE. By 2031, the company hopes that three new structures will be operating in the region, which is billing itself as a new hub for tourism and international investment in order to diversify the regional economy away from oil exports. A rendering of the hotel entrance of the Trump Interational Oman Hotel. A rendering of the hotel entrance of the Trump Interational Oman Hotel. Dar Global What To Know The new hotel, designed by luxury real estate developer Dar Global, will be built in Oman's capital, Muscat. Like many of the Trump Organization's other buildings, the hotel will borrow heavily from its namesake's reputation for opulence, using the same white-gold color scheme present in Trump Tower, New York and the two planned towers in Saudi Arabia and the UAE. Rendered images of the project's future released by Dar Global show that the hotel will house a swimming pool, a nightclub, and a viewing deck for the Gulf of Oman, as well as an international golf course, all Trump-branded. A rendering of a hanging bedroom in the Trump Interational Oman Hotel. A rendering of a hanging bedroom in the Trump Interational Oman Hotel. Dar Global One of the most ambitious parts of the hotel, if built correctly, will be a series of hanging suites that face the coast, with wall-to-ceiling windows for views. The hotel has a reported price tag of $500 million, with construction expected to be finished by the end of 2028. However, the first phase of building work is set to be done by 2027. What People Are Saying In a statement seen by Newsweek, the Omran Group said: "Oman is quickly becoming one of the most prominent commercial and cultural hubs in the region and is rapidly becoming a prime investment destination due to its attractive benefits. "From its favorable tax environment and its strategic location as a gateway to the Middle East and Africa, Oman offers countless opportunities for businesses to grow and thrive." A rendering of the loby of the Trump Interational Oman Hotel. A rendering of the loby of the Trump Interational Oman Hotel. Dar Global Eric Trump, who manages the Trump Organization with his brother Donald Jr., said in December: "This collaboration embodies our shared vision of creating landmark developments that exude luxury, quality, and sophistication. Together with Dar Global, we are setting new benchmarks for excellence, aiming to meet the demand for iconic properties in key markets." What Happens Next Dar Global and the Trump Organization have said that the hotel will be fully constructed by December 2028.
Associated Press
27-05-2025
- Business
- Associated Press
Enrica Petrongari Becomes First American Broker to Represent Dar Global's Trump Hotel Residences in Dubai
Enrica Petrongari expands her luxury real estate portfolio by representing Dar Global's Trump Hotel Residences Dubai to attract American buyers. United States, May 27, 2025 -- Expanding Horizons: Enrica Petrongari Bridges NYC Luxury Market with Dubai Real Estate Enrica Petrongari, a seasoned real estate professional, has made a significant stride in the realm of international luxury real estate. She becomes the first American broker to represent Dar Global in the promotion and sale of residences at the Trump Hotel Residences Dubai. This development marks a critical juncture in global property investment, providing new access points for American buyers seeking premium international real estate assets. With an established reputation for handling high-profile luxury properties in New York City, Petrongari's expansion into Dubai reflects an increasing demand for diversified investment portfolios among U.S.-based investors. Her role as a broker for this landmark project not only signals a transatlantic real estate connection but also positions her as a gateway for U.S. capital into the Gulf region's property market. A Transatlantic Strategy for Global Investment Dar Global, the international sales arm of Dar Al Arkan, is recognized for its iconic developments in the Middle East. Their selection of Enrica Petrongari as their first American sales broker for the Trump Hotel Residences in Dubai underscores her deep ties with international investors and her strategic insight into affluent real estate markets. The Trump Hotel Residences, located within the 18-hole Trump International Golf Club community, are noted for combining the Trump brand's global prestige with the robust economic and real estate growth of Dubai. With interiors by Versace Home and panoramic golf course views, the project speaks directly to investors seeking a blend of lifestyle, luxury, and long-term value. Petrongari's collaboration with Dar Global is founded on leveraging her extensive network, which includes American entrepreneurs, tech founders, and entertainment industry leaders. This partnership is designed to bridge the investment gap between the established New York City market and the rising demand for elite properties in the UAE. Educating the U.S. Market on Dubai's Potential In her new capacity, Petrongari is focused on educating American buyers on the strategic advantages of investing in Dubai. Among these are the absence of property taxes, high rental yields, investor-friendly policies, and a stable political climate. 'Dubai represents one of the most promising markets for international real estate investment,' says Enrica Petrongari. 'By representing the Trump Hotel Residences, I'm able to connect American investors with a prestigious project that complements their existing portfolios and offers strong potential returns.' Through tailored consultations and one-on-one engagement, Petrongari ensures that her clients receive comprehensive insights into Dubai's evolving property landscape. Her approach is rooted in transparency, discretion, and a meticulous evaluation of market trends. A New Era of Real Estate Collaboration This milestone appointment is emblematic of broader changes in global investment behavior, where American investors increasingly look beyond traditional markets. The representation of Trump Hotel Residences by an American broker opens up new channels of trust and accessibility for cross-border investments. Petrongari's involvement offers a localized point of contact for U.S. investors who may be unfamiliar with Dubai's regulatory environment or purchasing protocols. Her deep knowledge of luxury client expectations allows her to act not only as a broker but as a strategic advisor, ensuring seamless investment experiences. By aligning with Dar Global, Petrongari affirms her commitment to sourcing valuable international opportunities while maintaining her core focus on luxury sales in New York City. This evolution of her services reflects a broader trend in real estate: cross-continental partnerships that align high-net-worth individuals with compelling global assets. About Invest NYC Houses Invest NYC Houses is a boutique real estate firm specializing in luxury residential and investment properties in New York City. The company caters to a global clientele, including high-net-worth individuals, international buyers, and institutional investors. With a commitment to discretion, transparency, and personalized service, it offers a curated portfolio of exclusive listings, including off-market opportunities and cross-border investment options. Its latest partnership with Dar Global marks a significant expansion into the Dubai real estate market. Media Contact: Enrica Petrongari Real Estate Salesperson, Phone: +1-646-922-2089 Email: [email protected] Business: Invest NYC Houses Contact Info: Name: Enrica Petrongari Email: Send Email Organization: Enrica Petrongari Website: Release ID: 89161003 In the event of detecting errors, concerns, or irregularities in the content shared in this press release that require attention or if there is a need for a press release takedown, we kindly request that you inform us promptly by contacting [email protected] (it is important to note that this email is the authorized channel for such matters, sending multiple emails to multiple addresses does not necessarily help expedite your request). Our dedicated team will promptly address your feedback within 8 hours and take necessary actions to resolve any identified issues diligently or guide you through the removal process. Providing accurate and dependable information is our utmost priority.
Newsweek
24-05-2025
- Business
- Newsweek
Images Show Trump Tower Saudi Arabia Planned for 2029
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. The Trump Organization is pushing for a new tower in Saudi Arabia, the latest of its major investments in the Middle East. Conceptual images of the tower, which would be built in the western coastal city of Jeddah, show a heavily stylized seafront hotel, though work has yet to start on construction. Newsweek contacted the Trump Organization for more information on the project via email. The Context The Trump Organization is investing heavily in Middle Eastern construction over the next decade, with major construction projects in Saudi Arabia and the UAE. By 2031, the company hopes that three new towers will be operating in the region, which is billing itself as a new hub for tourism and international investment. What To Know T Trump Tower Jeddah will sit on the Jeddah Corniche in Saudi Arabia, a prime area in the city that is located close to the King Abdulaziz International Airport. Dar Global, the same team that is managing the design of the Trump tower in Dubai, said that the tower will have 47 floors, with a price tag of $530 million. Renderings of the exterior of Trump Tower Jeddah, on the Corniche in Saudi Arabia. Renderings of the exterior of Trump Tower Jeddah, on the Corniche in Saudi Arabia. Dar Global While constructors hope that the building will be fully raised by 2029, four years is a tight timeline for a project of this size. Conceptual images of the exterior and interior of the tower show that the design will be very similar to what the tower in Dubai is to look like, using the same white-gold color scheme. Both structures draw from the Trump Organization's reputation for opulence and luxury, with a private club, pool, gym, and yoga area included for guest use. An interior room rendering overlooking the Red Sea in Trump Tower Jeddah. An interior room rendering overlooking the Red Sea in Trump Tower Jeddah. Dar Global Dar Global describes the project as highly luxurious on its website, saying: "Located along Jeddah's picturesque Red Sea coastline, Trump Tower Jeddah offers breathtaking sea views and proximity to the city's top landmarks. "With easy access to the marina, Formula 1 racetrack, and iconic fountain, it's a location that seamlessly combines coastal beauty with urban convenience." An interior room rendering overlooking the Red Sea in Trump Tower Jeddah. An interior room rendering overlooking the Red Sea in Trump Tower Jeddah. Getty Images What People Are Saying In a statement seen by Newsweek, Dar Global said: "Targeting the luxury Saudi Arabian market and international investors, this development significantly advances Dar Global's growth strategy of capitalizing on opportunities across key cities in the Kingdom. Eric Trump, who manages the Trump Organization with his brother Donald Jr., said in December: "This collaboration embodies our shared vision of creating landmark developments that exude luxury, quality, and sophistication. Together with Dar Global, we are setting new benchmarks for excellence, aiming to meet the demand for iconic properties in key markets." What Happens Next Dar Global and the Trump Organization have said that the tower will be fully constructed by December 2029.
