Property investment top trumps

photo credit: MACSURAK

US tycoon Donald Trump is to sell one of the world’s most expensive penthouses as part of his venture into the UAE property market. Nakheel and the Trump Organisation have received bids for an exclusive property in Trump International Hotel and Tower on Palm Jumeirah.

Public sales of residences in the tower have now begun, with some units fetching as much as $2,450 per sq ft. Trump has announced he has even reserved a unit in the tower for himself, such is his confidence in the development.

Mr Trump said:

“I have created some of the world’s most spectacular buildings and hotels, but my project with Nakheel will be one of the most impressive undertakings I have ever been a part of.

“I’m thrilled with the early sales of the residences and I plan to reserve a property in the Tower for myself. I can assure you that the hotel will be a destination in itself, providing a stunning centrepiece to the skyline of Dubai.”

The 62-storey, stainless steel and glass Trump project will be the tallest structure on Palm Jumeirah and is expected to be completed in summer 2011.

The 399 residences and townhouses will be offered in three categories, the Platinum Collection, the Titanium Collection, and the Pinnacle collection.

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