Dar Global Expands to US and Greece After Trump Deals
DUBAI (Reuters) - Dar Global said on Tuesday it plans to expand in the U.S. and Greece, after the Dubai-based developer recently unveiled projects in partnership with the Trump Organization.
The international arm of Saudi Arabia's Dar Al Arkan Real Estate Development Company said in a statement it plans to invest in "key international cities" in the U.S.
It said it aims to partner with top-tier developers to create luxury residences, targeting both U.S. and international buyers. It did not provide further details.
Dar Global has agreed a number of deals with The Trump Organization, the company of U.S. President-elect Donald Trump. These include plans for Trump towers in Jeddah and Dubai, and a real estate project in Oman.
Trump Organization executive vice president Eric Trump last month told Reuters the firm was planning two more projects with Dar Global in Saudi Arabia, including a tower in Riyadh, and was planning further expansion in Abu Dhabi, in neighbouring UAE.
Donald Trump fostered close ties with Gulf states during his first term as president, including Saudi Arabia, which has invested $2 billion in a firm belonging to his son-in-law and former aide Jared Kushner, incorporated after Trump left office.
Other close Trump allies have also maintained close business ties in the Gulf since he left office in 2021.
(Reporting by Federico Maccioni; Editing by Alexander Smith)
