Donald Trump Launches new Hotel and Tower on Palm Jumeirah Dubai

Donald Trump announced his latest property offering on Monday – A $1 billion Hotel Tower Complex on Palm Jumeirah, Dubai– The Penthouse is expected to reach $30 million

The project will be a joint venture between Mr. Trump and Dubai developer, Nakheel, responsible for the World Islands development. The Tower will be built on Palm Jumeirah, the first among the Palm trilogy, and has sparked a great deal of interest from early investors, with prices quickly reaching $3,000 per square foot, making it one of the most expensive developments in Dubai. This despite the fact that public sales were only opened yesterday.

The sixty-two story Tower will feature the most coveted and expensive penthouse apartment in Dubai.
 and Nakheel’s chief executive Chris O’Donnell said he believes that “when the deal is signed for the first penthouse it will be sold for more than $30 million (Dh110 million).”

The tower will comprise nearly four hundred residential apartments, and a similar number of hotel rooms. The total land area of the site is over forty-five thousand square meters with a built-up area of a quarter million square meters, including parking for twelve hundred cars.

The structure will be made of stainless steel and glass and when complete, it will be the tallest structure on the Palm at 275 meters.

It is designed to permit an unblocked view of the Palm Jumeirah up to Atlantis and the Arabian Gulf.

 A gap between the two towers will allow the metro to run directly up the trunk of the Palm.