Trump puts his name to Dubai's $400m new hotel

Nakheel, LLC, a real estate developer based in Dubai, and The Trump Organization have revealed their plans for The Palm Trump International Hotel and Tower on the Palm Jumeirah island in Dubai.

Both companies will be investing substantially in the $400 million condominium-hotel development.

The Palm Jumeirah is one of the world's largest man-made islands, creating the shape of a palm tree in the Arabian Gulf. The Palm Trump International Hotel and Tower will provide a luxury centerpiece hotel on island's Golden Mile--the exclusive residential and retail boulevard on the trunk of The Palm Jumeirah. It will pioneer the condo-apartment hotel concept in the region.

The development will feature approximately 500 apartments (1/2/3 bedroom studios and penthouses), available for purchase, and each residence will have access to five-star hotel services and amenities. The development will be the first project in Dubai where each room, on the entire 360 degrees of the tower, will be guaranteed a sea view. The development will also include a selection of high-end boutiques, fine dining, signature roof top restaurants, bars, swimming pools and a luxurious spa and health club.

The Palm Trump International Hotel and Tower is the initial development in Nakheel and The Trump Organization's exclusive joint-venture in the Middle East. The Trump Organization's agreement with Nakheel includes exclusive rights for 19 countries in the region and 17 major brands. The Trump Organization will be investing substantial sums directly in the projects, and will have sales, marketing and management responsibility for each real estate development, including introducing The Trump Touch concierge services to the UAE. Sales for The Palm Trump International Hotel and Tower are expected to launch at the end of 2005.

Donald Trump, The Trump Organization's chairman and president, said, "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."