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.
Filed under Luxury Developments by Mark Knowles
April 7, 2008
Luxury Real Estate Investment Developments in Dubai
Any one looking through the recent announcements of world-wide luxury property investment developments could be forgiven for thinking that Dubai is the only country in the World still building new projects, and it is fair to say that Dubai appears to have plenty of room left for more. This is some of the most recent announcements.
Nakheel’s Waterfront development
is attracting a huge amount of interest, both from developers and investors, with many announcements selling out within a short space of time. Most recent, is
Cirrus’ mixed use project, Aquarius Gate
. The commercial tower at Aquarius Gate will be twenty-nine stories high, and offer panoramic views of the Arabian Gulf and the Palm Jebel Ali from its. Six glass elevators will provide uninterrupted views of the sea. (until the next water based development.) And the luxurious residential tower will offer views across the Canal, the Marina and the Palm Jebel Ali.
was announced last week, another luxurious waterfront development and within walking distance of the Buj Dubai and the Dubai Mall. What with the current state of traffic in Dubai, it’s fair to say walking is a sensible option.
, a luxury retail mall, is also planned and expected to be completed around mid-2011.
recently joined the Al Basel consultancy network to promote their hotel in the hospitality sector.
Construction continues apace on the
which is currently the world’s tallest building, despite the fact that it is still unfinished.
recently completed the breakwater and one of the first announcements was the
luxury boutique hotel on “Greece,
” by European arcistocrat, Baron Jean Van Gysel de Meise.
Despite some suggestions that Dubai’s luxury real estate sector is headed for a crash, there seems to be no end in sight at the moment and more developments are being announced, almost on a daily basis.
Filed under For Enthusiasts, Luxury Developments by Mark Knowles
