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* Trump and Nakheel reveal details of first major joint investment in Dubai

The Palm Trump International Hotel & Tower

Mena Report
Nakheel, developer of more than $30 billion in real estate in Dubai, and The Trump Organization have revealed their plans for The Palm Trump International Hotel and Tower; both companies will be investing substantially in the pioneering $ US 400 million condo-hotel development.

Spanning 5km in length and 5km in width, 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 spectacular luxury centre piece hotel on The 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), which can be bought to own, and each residence will have the luxury of 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 Middle East 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 with a ground-breaking ceremony in Dubai.

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." He added, "Our designers and architects will be engaged closely with Nakheel on the design and interior finishes of the building to ensure the quality is of the absolute highest standards."

Sultan Ahmed bin Sulayem, Executive Chairman Nakheel, said, "With The Palm, Jumeirah development, Nakheel is creating an icon for the twenty-first century, and it is entirely fitting that The Trump Organization is a key player and investor in realizing this vision. The Trump Organization has built its reputation on providing first class, luxury developments – The Trump International Hotel and Tower in New York is one of only three hotels in the to have received a double Mobil Five-Star rating for both the hotel and its restaurant. It is this quality of development that Nakheel is attracting on to The Palm, Jumeirah.

"Nakheel prides itself on the unique and innovative nature of its projects, and The Palm Trump International Hotel and Tower will not only incorporate an iconic, eye-catching design, the first such development with sea views from every room in the entire 360 degrees around the tower, but the condo-apartment hotel concept is also a pioneering one for the region, which offers potential investors something a little different."

The tower's iconic "tulip" design will incorporate a state-of-the-art exo-skeleton frame, which will minimise the number of internal structural columns, thus maximising floor space and ensuring uninterrupted views of both The Palm and the Arabian Gulf throughout the tower.