Trump Tower Dubai, Jeddah and Oman: what the Trump brand is building in the Gulf

Why are the ties between the Trump brand and the Gulf so strong?

The relationship predates the politics. Trump-branded golf villas were being built with Damac in Dubai before the first presidential term, and the Trump International Golf Club in Damac Hills opened in 2017.

After the second election, Hussain Sajwani, the head of Damac, announced plans to develop data centres in the United States worth USD 20 billion. Qatari and Saudi funds announced American investments at the same meeting.

Oleg's own theory, presented as a theory, is that the links go back to the years when Trump was raising money for hotels, towers and casinos. He recommends David Enrich's book on Deutsche Bank mainly as a study of how any developer depends on a lender.

On the product itself he is measured. The Trump villas in Damac Hills are not the best villas in Dubai, he says, but many people note that they are built to a higher standard than the villas around them.

Where is Trump Tower Dubai located?

Trump Tower Dubai stands opposite the Dubai International Financial Centre and Downtown, next to the city's main road. A junction beside the plot leads to Central Park, City Walk, Downtown and DIFC, so the tower has an easy exit in every direction.

DIFC is the reason the address matters. It is a district with its own legislation modelled on the City of London, where British law applies, and it holds some of the most expensive restaurants in Dubai.

The tower is being developed under the Trump brand by a Saudi company, the same one that has already launched several Trump-branded properties in the region, including the Jeddah tower.

When the video was recorded the launch was days away and no prices had been published. Oleg therefore does not tell anyone to rush in. His point is narrower: the same developer priced Jeddah low, so the Dubai numbers deserve a careful look.

How much does Trump Tower Jeddah cost per square foot?

Trump Tower Jeddah was quoted in the video at AED 1,940 per square foot, about USD 528, or a little under USD 6,000 per square metre. Oleg compares that with the price of housing in Eastern European capitals.

The contrast with Dubai is sharp. Non-branded property in Dubai sells for AED 2,400 to 2,700 per square foot (USD 654 to 735), he says, and branded residences reach USD 30,000 to 50,000 per square metre.

The building offers one-, two- and three-bedroom apartments and penthouses with three and four bedrooms, plus restaurants, bars and lounges. Because Trump is a hotel brand, the residences come with hotel-style management.

The site is on the Jeddah waterfront. There is no beach directly below the tower: golf courses lie beneath it, and the beach is a few minutes away by car. Jeddah itself is about an hour's drive from Mecca.

Oleg describes it as almost the only European-style building in the country, because pools and gyms in Saudi Arabia are normally separate and here they are shared. The interiors use dark wood in a combination he says very few Dubai developers attempt.

Residents also get access to the Trump club, with a cigar lounge and restaurants. He was told this is listed as a separate selling point because a club of that level usually requires two referrals before a member is accepted.

Is the Saudi property market ready for foreign investors?

Only just. Oleg describes Saudi Arabia as a market at an early stage, with freehold ownership only a few years old and far fewer projects than social media suggests. He puts Oman at the same stage, in a lighter weight class.

Jeddah is the country's main resort city, and he compares it with Batumi during the Georgian building boom of ten to fifteen years ago: a waterfront city where the first wave of investment property is only now appearing.

There are also villas near Riyadh and some other stock. From an investment point of view, though, the Jeddah tower is the one Saudi building he says he could currently point a client to.

What is being built under the Trump brand in Oman?

In Oman the Trump brand is on a villa community and a hotel at AIDA, a location about 25 minutes from Muscat in the north of the country. The villas sit among golf courses with a view of the water, and the hotel's completion is given as 2028.

The villas are large: five bedrooms, around 400 square metres or more, a big plot and roof terraces with a wide view. Finished Trump villas already exist in Dubai, so buyers can judge the product.

Oleg asked who buys them and got the answer he expected. The buyers are mostly Europeans who work in the Middle East and want a holiday home for weekends and long breaks, 25 minutes from the airport.

Oman's climate is milder than the Emirates in terms of heat, and the trip from Dubai is short. He describes an early flight, the smart gate with an Emirates ID and a door-to-door journey of about two and a half hours.

The hotel planned beside the villas is off-plan with a payment plan, like the Jeddah tower. It will include a premium nightclub set on the cliff, which matters in a market that, by his account, has restaurants but no nightlife comparable to Dubai.

Should you buy a hotel room in the Trump hotel in Oman?

Treat it with care. Rooms in the hotel are offered for sale with a promised yield of 8.8%, and the owner can stay for two weeks a year. Oleg had not yet reviewed the contract and says so directly.

His general warning applies to hotel property across the Middle East: the contracts are often convoluted, and the headline yield is the number to question first. The structure is essentially the same as with hotel units in Dubai.

Buyers who have had a good experience with hotel rooms elsewhere may find it worth studying. The decision should rest on the management agreement, not on the brand name above the door.