|Middle East and North Africa Business
Report, Amman, Jordan
Knight Ridder/Tribune Business News
May 2, 2006 - Nakheel, the UAE's premier property developer and Donald J. Trump Jr. today revealed further details of the Trump International Hotel & Tower, the centerpiece of The Palm Jumeirah.
The new design -- a collaboration between The Trump Organization and Nakheel Hotels & Resorts, Nakheel's hotel and resort investment company -- was unveiled earlier this week. Speaking on Nakheel's stand at the Arabian Travel Market, the pan Arab region's leading travel industry event, Donald J. Trump, Jr. Executive Vice President of Development and Acquisitions, The Trump Organization discussed the composition of the property, which is destined to become a stunning landmark on the skyline of Dubai.
Donald J. Trump Jr. commented: "The Trump International Hotel and Tower, The Palm Jumeirah is a 48 storey mixed-use condo hotel and residence comprising a 300 room condo hotel and 360 free hold residential apartments. The property will pioneer the condo-apartment hotel concept in the region, a concept that has been highly successful in our properties around the world.
"It will provide a unique opportunity to own an elegant and contemporary appointed hotel suite in the heart of The Palm Jumeirah, one of the world's most exciting real estate developments and destinations. A condo-apartment serves as a convenient in-town pied-a-terre for those seeking a second or even third home, with the benefit of Trump's superlative service. When not occupied, the client will have the ability to make their suite available through the hotel's rental program. "
Sultan Ahmed bin Sulayem, Executive Chairman, Nakheel, stated: "Dubai hotels recorded US$2.15 billion in 2005, up from US$1.5 billion in 2004. There are a high number of repeat visitors on both business and leisure and the condo apartment hotel concept provides the opportunity for corporations or individuals to purchase a suite, which they can use for a certain amount of the year and benefit from the profits made on it as a hotel room for the remainder of the year. Further, we expect the property to appreciate over time, creating greater asset value."
Residents in the 360 freehold residential apartments will experience the same world-class amenities, services and facilities as hotel guests, including exclusive access to a private beach and yacht club with tennis courts, gymnasium and fitness centre, stylized pools and gardens. All guests will experience Trump's renowned extraordinary service, with The Trump Touch concierge services providing a luxury unsurpassed in the region.
"This is a residence that will be the pinnacle of 21st Century living" commented Donald Trump Jr."
The property features an observatory viewing gallery and a number of five star restaurants located at the apex of the building, which will offer unparalleled views of Dubai and the Arabian Gulf. A number of Sky Gardens -- landscaped lobby areas -- positioned on a number of floors throughout the property will provide further viewing points
A Sky Lobby, suspended above the shallow, tranquil canal that flows up the centre of the trunk and the state-of-the-art monorail that traverses the length of the island, will create a grand sense of arrival, whilst lower floor retail will provide a natural progression of The Golden Mile, the exclusive residential and retail boulevard which lines the trunk's west side.
"The design also features a number of boutique offices, available for purchase or rental", Donald Trump Jr. continued. "These will be arguably the most prestigious business addresses in Dubai."
Sultan Ahmed bin Sulayem continued: "Like The Palm Jumeirah, the Trump International Hotel & Tower will be a powerful symbol of Dubai's intent to become a 21st century showcase of daring and breathtaking pieces of architecture. Once complete, it will be an inspirational landmark, an icon of Dubai and a representation of the Middle East: prosperous, dynamic and successful."
The Trump Organization will have sales, marketing and management responsibility for the property, with Nakheel Hotels & Resorts responsible for development. Construction will commence in late 2006, with sales launching in 2007. It is expected that the property will be completed in 2009.
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Copyright (c) 2006, Middle East and North Africa Business Report, Amman, Jordan
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