Eric Trump announces enormous new project in Saudi Arabia as the family business expands its global empire

Eric Trump announced a new project that will put the Trump logo on a soaring luxury tower in Saudi Arabia after his father begins his term as president.

Trump, a top executive at his father real estate company, posted gleaming computerized designs of the building, to be called Trump Tower Jeddah, in just the latest indication of how the president will seek to expand his real estate, branding, social media, and cryptocurrency empire while in office.

‘Incredibly proud to officially launch a project that has been underway for many months,’ he posted on X. ‘Thank you to our partners @dar_global,’ he added, mentioning the Dubai-based real estate firm.

‘This will be our 5th project together and among the most luxurious buildings anywhere in the world!’ he added. 

‘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,’ according to a Trump Organization release. 

‘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,’ Eric Trump said in the statement. 

The video image he released showed a building of about 50 stories punctuating the skyline. It features the familiar ‘TRUMP’ logo. 

The project on the Red Sea is just the latest in a line of Trump family ties to the Saudis, a key U.S. ally and global energy supplier who has posed gnarly human rights challenges during various periods, including after the assassination of journalist Jamal Khashoggi at the Saudi consulate in Turkey. 

Eric Trump released a new video touting a Trump Tower project in Jeddah, Saudi Arabia just weeks before his father is set to take office for the second time

After Trump left office, son-in-law Jared Kushner’s private equity firm got a $2 billion investment from the Saudi Public Investment fund overseen by Crown Prince Mohammed bin Salman, who a U.S. intelligence report assessed ordered the Khashoggi killing.

In May, the Serbian government approved a Kushner project to build a luxury hotel atop the the former defense ministry in Belgrade. In October, Eric Trump inked a deal to do a $1.5 billion golf course and hotel project in Vietnam. All extend the family’s business reach, at a time when Trump will start steering U.S. diplomatic and defense policy. He announced Tuesday he would name Trump family friend Kimberly Guilfoyle to be ambassador to Greece.

Eric Trump flew to a conference in the U.A.E. last week to deliver a speech where he told attendees, ‘You’re going to have the most pro-crypto president in the history of America.’

He said he was ‘confident’ Bitcoin would hit $1 million. (It surged to $100,000 after Trump picked a pro-crypto official to lead the SEC). The Trump family has a crypto project called World Liberty Financial.

Then he touted the array of family projects in the region. ‘I’m doing a big hotel in Dubai as we speak. We’re doing projects in … We’re about to do one here in Abu Dhabi, which we’re super excited about. We’re doing projects in Jeddah. We’re doing projects in Oman. We’re doing projets in Riyadh. We’re doing projects all across the region.’ 

Donald Trump has also done deals with Saudi-backed LIV golf, and hosted tournaments at his golf courses. (The country’s push into global sports continue to pay off. It was awarded the FIFA World Cup in 2034, drawing backlash from human rights groups, amid plans for a futuristic stadium for the event. His first trip as president was to Riyadh in 2017. 

When Trump took office in 2017, he refused demands by ethics groups that he put his holdings into a blind trust. Instead, he established a trust and transferred decision-making authority to sons Eric and Don, Jr, as well as executive Allen Weisselberg.

Eric Trump, who last week attended a crypto conference in the Middle East, announced the new project in Jeddah, Saudi Arabia

The gleaming tower would take the Trump brand to the city on the Red Sea. Saudi Arabia is a key U.S. ally but has long faced questions about its human rights record

The campaign has not revealed what steps Trump will take during his second term to try to insulate him from potential conflicts involving foreign investors or foreign governments. 

Trump’s stake in his Truth Social platform has grown to around $4 billion, and he took an online post recently to foreswear any plan to sell his shares, causing a spike in its value. 

The U.S. and Saudi have a longstanding security relationship, with more than $100 billion in Foreign Military Sales cases, according to the State Department.