After Dubai, how soon will a Trump Tower come to Abu Dhabi?
Dubai: Ahead of US President Donald Trump's visit to the Gulf next week, the UAE's property market is buzzing with talk about how soon the next Trump-branded project will launch – and whether that will be in Abu Dhabi. Or Riyadh.
Talks about a Trump Tower for Abu Dhabi are 'pretty serious', according to informed sources. On whether such an announcement would happen during the US President's visit to the UAE, they declined to comment.
But for now, there's lots happening on Trump projects in the Gulf. Sales at the 80-storey Trump International Hotel & Tower in Dubai have got off to a brisk start, with two-bedroom apartments from Dh4 million and four-bedroom penthouses (of which there are only two) having a sticker price of Dh70 million plus.
Given its prime location at the entrance of Downtown Dubai, the price per square foot on the Trump Tower is as premium as it gets. Downtown Dubai has a mix of psf prices, in the main averaging Dh2,000-Dh8,000 and 'then pushing past that for signature developments such as Trump Tower and the Bugatti Residences by Binghatti', according to data from GCP.
The Dubai launch follows that of the Trump Tower in Jeddah – 'Going by the response in Jeddah, Trump Dubai should soon be hitting its sales targets, that's for sure,' said a property industry source. 'And then there's the location in Downtown Dubai, which creates its own pull. What would be interesting to see is how soon those penthouses sell.
'With a hotel taking up 18 levels of the 80 storeys, that adds to the project's viability in the eyes of investors.'
Both Trump Tower projects launched to date in the GCC will be built by Dar Global, which also has a tie up with Trump Organization for a niche super-exclusive golfing community in Oman.
Trump villas in Dubai
For Trump Organization, the Downtown Dubai tower is the second project with a residential part to it. Earlier, there was the Trump Estates in Damac Hills, with Property Finders showing listings of Dh16.9 million for a six-bedroom villa there and Dh8.3 million for a 5-bedroom ready home.
According to Aakarshan Kathuria, CEO of the property firm RiseUp, 'The launch prices for Trump Estates' villas started from Dh3 million to Dh3.5m back when they launched in 2013. Now, the ready villas there are transacting in the range of Dh5 million plus.
'Coupled with the adjoining Trump International Golf Club - which opened in 2017 – there is significant visibility for the Trump brand in Dubai's real estate.'
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