30 July 2017

Dubai-based developer Damac Properties PJSC on Sunday announced the launch of new Trump-branded villas at its Damac Hills development.

The Trump Estates Park Residences project, which is part of Damac’s partnership with The Trump Organization, the company founded by United States President Donald J. Trump, will be priced from 2.96 million UAE dirhams ($805,400).

The villas are part of a gated community and will contain four bedrooms and a basement which can be used as additional recreational or utility space for the owners or tenants.

The new Trump villas will go on sale on August 5.

As part of Damac’s agreement with The Trump Organization, the Dubai developer will open the Trump International Golf Club during the final quarter of 2017, while another Trump-operated golf course, the Trump World Golf Club, is expected to open next year.

In May, Damac reported a net profit of 880.4 million dirhams for the three months to March 31, a fall of 16.2 percent compared to the same period last year. The developer's 2016 full-year net profit was 3.69 billion UAE dirhams, down from 4.51 billion UAE dirhams in 2015.

Founded in 2002, Damac Properties has delivered 18,500 homes as of March 31, 2017 and has a pipeline of over 44,000 units at various stages of development, according to a company press statement on Sunday.

© Zawya 2017