In-Depth Analysis of the Impact of Dar Global and The Trump Organization's Saudi Collaborative Projects

Now I will conduct a systematic and comprehensive analysis for you. Based on the latest collected data and industry research, I will provide you with a detailed investment research report.

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Dar Global (a London-listed company, ticker: DAR) and the Trump Organization have established a systematic Middle East layout through their strategic collaboration. As of September 2025, the details of their collaborative projects in Saudi Arabia are as follows:

Project Name	Investment Amount	Location	Launch Date	Project Type
Trump Tower Jeddah	$533 million (SAR 2 billion)	Jeddah Corniche	December 2024	47-story residential tower, apartments, penthouses, private club
Trump Plaza Jeddah	$1 billion	King Abdulaziz Road, Jeddah	September 2025	Mixed-use integrated community including residences, serviced apartments, Grade A office space, and townhouses

Trump Plaza Jeddah is positioned as Dar Global’s “most ambitious development project to date”, with key highlights including a central green landscape axis inspired by New York’s Central Park, integrating living, working, and leisure functions[1][2].

Dar Global is a subsidiary of Saudi Arabia’s Dar al-Arkan Group, and has grown to become the Trump Organization’s most important international partner in the Middle East[3]. According to a report by The New York Times, Dar Global contributed

in licensing revenue to the Trump family business in 2024 through the purchase of Trump brand licensing rights[3].

Dar Global’s global project pipeline has reached

, covering the UAE, Oman, Qatar, the UK, Spain, and other regions[2]. The company established its first U.S. office in Trump Tower New York in 2025, further highlighting the depth of the partnership between the two parties[3].

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The Saudi real estate market is in a period of historic structural growth, driven primarily by the “Vision 2030” strategy:

Indicator	Data	Source
2025 Real Estate Market Transaction Volume	SAR 109 billion (approx. $29 billion) in Q1	Lexology[4]
YoY Growth in Foreign Investment Transactions	37%	Omnia Capital Group[2]
YoY Growth in Residential Sales	38%	Omnia Capital Group[2]
2025 Real Estate Market Growth Forecast	30%	PwC Report[4]
Announced Investment in New Projects by Developers	$38 billion	PwC Report[4]
Transactions Closed at 2025 Cityscape Event	$63 billion	Omnia Capital Group[2]
Luxury Real Estate Market Valuation	$15 billion	Ken Research[5]
Government Tourism Development Budget	SAR 100 billion	Ken Research[5]

The Saudi real estate market has recorded transaction volume of SAR 109 billion, and the luxury residential market is expected to grow from $15 billion in 2024 to

in 2033, with a compound annual growth rate of approximately 6%[4][5].

The entry of the Trump brand has brought a significant brand premium effect to the Middle East high-end real estate market:

: According to market analysis, Trump-branded projects typically enjoy a compared to non-branded projects in the same area[2]. This premium stems from:

• The global recognition and luxury positioning of the Trump brand
• Quality endorsement from Trump hotel and property management
• High-net-worth individuals’ investment preference for branded assets

: Trump Tower Jeddah received a warm market response and strong pre-sales after its launch, directly driving up Dar Global’s stock price and validating the Saudi market’s demand for branded luxury real estate[2].

The Trump Plaza Jeddah project is regarded by the industry as a “symbolic layout marking the maturation of the Saudi real estate market”[2]. Its impacts are reflected in:

1. International Capital Siphon Effect
   : Targeting high-net-worth overseas individuals and international capital, the double-digit investment returns, tax incentives, and stable policy environment offered by the Saudi market for high-end areas make the project highly attractive to global investors[2].

2. Investor Confidence Boost
   : After the project information was marked as “coming soon” on the Trump Group’s official website, it attracted global attention from the real estate industry. Early investors in the Jeddah market have already seen rapid asset appreciation, and the project is regarded as a “high-quality target with both stability and growth potential”[2].

3. Industry Standard Upgrade
   : Planning standards introduced by the project, such as the Central Park-style green axis and Grade A office space, have set a new development benchmark for the Saudi high-end real estate market[1][2].

The Trump brand’s layout in the Middle East shows a diversified pattern:

Region	Collaborative Project	Investment Scale	Status
Dubai, UAE	Trump International Golf Club	Opened	In Operation
Dubai, UAE	80-story hotel and residential tower	$5.5 billion	Under Development
Abu Dhabi, UAE	Golf Course	Delayed	Under Development
Qatar	Trump International Golf Club & Villas	In Collaboration	Under Development
Oman	Hotel and Golf Resort	In Collaboration	Under Development
Riyadh, Saudi Arabia	Trump Tower	In Negotiations	In Planning

This layout has enabled the Trump brand to form a strategic network covering Saudi Arabia, the UAE, Qatar, and Oman in the Middle East, enhancing the brand’s overall influence in the Gulf region[6].

The collaboration between the Trump Organization and Dar Global coincides with the start of Trump’s second term and his first visit to Saudi Arabia, highlighting deeper U.S.-Saudi commercial ties[2][6]:

• Government-Enterprise Synergy Effect
  : The collaborative projects are highly aligned with the goals of “non-oil economic diversification” and “tourism development” in Saudi Arabia’s Vision 2030
• Strategic Channel Value
  : Dar Global has become a key channel for the Trump family to connect with governments and enterprises in the Gulf Arab states
• Soft Power Extension
  : The brand collaboration is regarded as an extension of U.S. business culture’s soft power in the Middle East

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The Trump Organization’s hotel business in the Middle East is primarily operated through a

model, where it does not bear real estate development risks and only profits from brand usage fees. Based on existing data:

Business Type	Region	Revenue Model	Scale Estimate
Hotel Management	Oman (Muscat)	Management fee + revenue sharing	30-year long-term contract
Brand Licensing	Saudi Arabia	Licensing fee	$21.9 million/year (Dar Global)
Golf Course Management	Multiple Regions	Management fee + membership revenue	Dubai project: $24 million over 10 years
Brand Licensing	UAE	Licensing fee	Dubai project: $5 million received upon opening

According to analysis by The New Yorker, the Trump Organization’s international hotel licensing and management business accounts for approximately

of its total wealth, but it is “the most dynamic segment — generating large cash flows with almost no risk”[3].

The collaborative projects with Dar Global have brought substantial licensing revenue to the Trump Organization:

Indicator	Data	Time/Source
Licensing Revenue from Dar Global	$21.9 million	2024[3]
Initial Licensing Fee for Dubai Project	$5 million	2024[3]
Estimated Profit per Licensing Project	$9 million over 3 years	2024[3]
Projected Number of Future Licensing Projects	4 (Riyadh, Jeddah, Dubai, Doha)	2025[3]
Projected Licensing Profit Over the Next 3 Years	$36 million	2025[3]

According to estimates by The New Yorker, if 4 new Trump-branded projects in Riyadh, Jeddah, Dubai, and Doha are launched, based on average licensing fees,

[3].

The valuation of the Trump Organization’s international hotel business is undergoing a systematic revaluation:

:

• Valuation of brand licensing business: $562 million
• Includes 33 licensing projects (7 of which are in the “condo hotel” model)
• Has generated
  $74 million
  in licensing transactions
• $823 million
  in joint venture real estate assets[7]

:

1. Geographic Diversification
   : Middle East projects reduce reliance on traditional markets (the U.S. and Europe)
2. Revenue Stability
   : The political stability and payment capacity of countries such as Saudi Arabia and the UAE ensure cash flow predictability
3. Long-Term Contract Lock-In
   : The Oman project has secured a
   30-year
   management contract, far exceeding the industry standard 10-year term[3]

Growth Driver	Specific Performance	Valuation Impact
Project Pipeline Expansion	Multiple concurrent projects in Saudi Arabia, the UAE, Qatar, and Oman	Continuous expansion of the licensing fee base
Brand Premium Enhancement	Successful cases of Middle East projects enhance global brand value	Future licensing fees are expected to rise
High-Net-Worth Customer Aggregation	38% YoY growth in Saudi residential sales brings potential buyers	Growth in hotel occupancy rates and membership revenue
Regional Policy Dividends	Vision 2030 drives tourism development	Long-term growth in hotel demand

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1. Emoluments Clause Risk
   : The Trump Organization’s business expansion in the Middle East has been alleged to potentially violate the U.S. Constitution’s Foreign Emoluments Clause, which prohibits the president from accepting payments or gifts from foreign governments without congressional approval[6]. The Republican-led Congress has not taken formal action, but this legal risk persists.

2. Conflict of Interest Controversy
   : The destinations of Trump’s first Middle East visit in his second term (Saudi Arabia, Qatar, UAE) are all regions where his family has commercial projects, sparking ethical questions about “overlap between official duties and private interests”[6]. Senate Minority Leader Schumer criticized this behavior as a “private commercial venture”[6].

3. Historical Precedent
   : During his first term, a Democratic congressional report showed that Trump’s businesses received
   $7.8 million
   from 20 foreign governments, while watchdogs estimate the actual total is close to
   $13.6 million
   [6].

Risk Type	Specific Performance	Impact Level
Project Delay Risk	Delayed development of the Abu Dhabi golf course	Medium
Market Cycle Risk	Potential adjustment after overheating in the Saudi real estate market	Medium
Brand Reputation Risk	Potential impact of Trump’s personal political controversies on the brand	Medium
Exchange Rate Risk	Fluctuations in the exchange rate between the U.S. dollar and local currencies	Low

Based on the above analysis, the valuation model for the Trump brand’s hotel and real estate licensing business can be summarized as follows:

:

1. Brand licensing fees: $21.9 million/year (Dar Global) + other projects
2. Hotel management fees: approximately $2.2 million (international hotel business, part of the $220 million in total wealth)[7]
3. Golf course management fees: approximately $1.9 million (present value over 10 years)

:

• Enhanced brand recognition driven by 38% YoY growth in Saudi residential sales
• Long-term support from Vision 2030 policy dividends
• Cash flow predictability brought by 30-year long-term contracts

:

• If the Middle East project pipeline continues to expand, licensing revenue is expected to maintain
  20-30% annual growth
• Policy risks may affect brand reputation, but the short-term impact on valuation is limited

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1. Impact on the Middle East High-End Real Estate Market
   :
   • The entry of the Trump brand has brought a
     15-25% brand premium
     to the Saudi luxury real estate market
   • Strong pre-sales validated market demand, and the success of Trump Tower Jeddah directly drove up Dar Global’s stock price
   • Policy dividends under the Vision 2030 framework provide long-term growth support for the projects

2. Impact on the Valuation of the Trump Brand’s Hotel Business
   :
   • The $21.9 million in licensing fees contributed by Dar Global in 2024 accounts for
     over 10%
     of the Trump Organization’s international hotel business revenue
   • The expansion of the Middle East project pipeline has brought the valuation of the brand licensing business to $562 million
   • Long-term management contracts enhance cash flow stability and predictability

Time Horizon	Expected Development	Valuation Impact
Short-Term (1-2 Years)	Trump Plaza Jeddah enters sales phase	Licensing revenue confirmation, brand premium validation
Mid-Term (3-5 Years)	Launch of projects in Riyadh and Doha	Expansion of licensing fee base, improvement of brand network
Long-Term (5-10 Years)	Achievement of Vision 2030 goals	Asset revaluation, emergence of exit opportunities

For investors focusing on this field, it is recommended to monitor the following indicators:

1. Dar Global’s stock performance
   (LSE: DAR) — reflects market recognition of the value of Trump-branded projects
2. Revenue growth of the Trump Organization’s international business
   — measures the profitability of the brand licensing model
3. Saudi real estate market transaction data
   — tracks the sustainability of high-end demand
4. Geopolitical policy trends
   — assesses the evolution of compliance risks

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[1] Arab News - “Jeddah set for $1bn Trump Plaza, Saudi developer Dar Global reveals” (https://www.arabnews.com/node/2617177/business-economy)

[2] Omnia Capital Group - “Dar Global and Trump Organisation Double Down on Saudi Luxury with $1 Billion Trump Plaza Jeddah” (https://www.omniacapitalgroup.com/en-us/reports-intelligence/dar-global-trump-organisation-saudi-luxury-with-1-billion-trump-plaza-jeddah)

[3] The New Yorker - “How Much Is Trump Profiting Off the Presidency?” (https://www.newyorker.com/magazine/2025/08/18/the-number)

[4] Lexology - “Saudi Vision 2030: High-Growth Investment Opportunities in 2025” (https://www.lexology.com/library/detail.aspx?g=7370f429-0c53-44ee-aa20-5bee9c9eb8dc)

[5] Ken Research - “Saudi Arabia Luxury Real Estate and Villas Market” (https://www.kenresearch.com/saudi-arabia-luxury-real-estate-and-villas-market)

[6] Katie Couric Media - “Trump’s Business Ties in the Middle East Are Drawing New Scrutiny” (https://katiecouric.com/news/politics-and-policy/trumps-conflicts-of-interest-middle-east/)

[7] Wikipedia - “The Trump Organization” (https://en.wikipedia.org/wiki/The_Trump_Organization)

[8] Trump.com - “Dar Global Announces Second Collaboration with The Trump Organization to Launch Trump Plaza Jeddah” (https://www.trump.com/media/dar-global-announces-second-collaboration-with-the-trump-organization-to-launch-trump-plaza-jeddah-following-the-success-of-trump-tower-jeddah)

[9] Middle East Eye - “The Trump Organization eyes real estate deal in Saudi government development” (https://www.middleeasteye.net/news/trump-organization-eyes-real-estate-deal-saudi-government-development-report)

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: January 11, 2026