The Trump Organization, the company of U.S. President-elect Donald Trump, and Saudi luxury international real estate developer Dar Global announced two new Riyadh real estate projects on Monday.

London-listed Dar Global is the international arm of Saudi Arabia's Dar Al Arkan Real Estate Development Company. It has previously agreed a number of deals with The Trump Organization, including plans for Trump towers in Jeddah and Dubai, and a $4 billion real estate project in Oman.

The pair did not give further details about the two Riyadh projects, including the value.

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 Jared Kushner, Trump's son-in-law and former aide, incorporated after Trump left office.

Other close Trump allies also maintained close business ties in the Gulf since he left office in 2021.

Trump broke with U.S. precedent by not divesting his businesses or putting them into a blind trust during his first term in office, instead leaving his adult sons to manage them.

Trump's son Eric, who is The Trump Organization's Executive Vice President, is expected to travel to Saudi Arabia this week for the launch of the Trump Tower Jeddah after speaking at a bitcoin conference in the United Arab Emirates.

(Reporting by Pesha Magid; Editing by Kirsten Donovan)