Donald Trump set to open hotel on Palm

Regional developer, Nakheel, and The Trump Organisation have revealed plans to develop the US $400 million Palm Trump International Hotel & Tower in Dubai.

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By  Laura Barnes Published  October 31, 2005

Regional developer, Nakheel, and The Trump Organisation have revealed plans to develop the US $400 million Palm Trump International Hotel & Tower in Dubai. This exclusive joint venture is the initial development between the two companies. As part of the deal, The Trump Organisation has also agreed with Nakheel to exclusive rights for 19 countries in the Middle East region, under 17 major brands. Under the deal, The Trump Organisation will invest substantial sums of money directly in the projects, as well as having sales, marketing and management responsibility for each development, including the Trump Touch concierge services. The Palm Trump International Hotel is to be situated on The Palm Jumeirah and will provide a centrepiece to the Golden Mile. As well as a residential apartment and hotel complex, it will also house a selection of high-end boutiques, fine dining restaurants, swimming pools and a luxurious spa and health club. “I am delighted to invest, manage and sell this project on what is clearly the best location in Dubai. When I look at potential sites for real estate investment, I concentrate on ‘location, location, location’, and this is not only the best location in Dubai, but the whole of the Middle East,” said Donald Trump, chairman & president, The Trump Organisation. The building, which will house 500 apartments, will also offer the opportunity for occupants to own an appointed hotel suite. The hotel will be able to act as a second home for some owners, but without the responsibility of maintaining a residence. The accommodation can also be purchased for personal or corporate use, and be occupied as much or as little as needed. Additionally, when in residence, owners will have full access to the five-star amenities and when not in use, owners will be able to make their room available as part of the hotel. Once purchased, owners will be able to sell or transfer their suite at any time, as well as being able to rent out the property, which will be managed and maintained by the hotel. “The Palm Trump International Hotel & Tower will not only incorporate an iconic, eye catching design, but the condo apartment hotel concept is also a pioneering one for the region, which offers potential investors something a little different,” said Sultan Ahmed bin Sulayem, executive chairman, Nakheel.

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