Hydra ‘in talks with Trump’ over new Abu Dhabi investment

Hydra Properties has fast-tracked work on a an iconic Dubai tower as reports surfaced that it was also in new project talks with US mogul Donald Trump. The firm said it had begun excavation and piling work on the Hydra Downtown Tower scheme, featuring residential investment units and a five-star hotel.

Soon after UAE newspaper the National reported the company was in discussion with Mr Trump over a new skyscraper on Reem Island, Abu Dhabi.

According to the National, Sulaiman al Fahim, chief executive of Hydra Properties, said an agreement could be signed within a week, provided certain project naming disagreements are ironed out. Quoted by the paper, Dr Fahim said:

“Trump always insists on having the Trump name alone, but I’m insisting on having Trump next to Hydra… because I feel that Hydra is not less than Trump.”

If confirmed, the project will be Trump’s latest venture into the UAE property market following his partnership with Nakheel on Trump International Hotel and Tower, Palm Jumeirah, Dubai.

In a separate statement, Dr Fahim said the Hydra Downtown Tower would “redefine” the skyline of Dubai. The first 30 floors of the 45-floor project will be residential investment apartments, with the final 15 containing the hotel, all expected to be complete by 2010.

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