AED 2.9 billion contract awarded to Al Habtoor/Murray & Roberts JV
Dubai, 10 June 2008: Nakheel, a Dubai World company and one of the world's largest and most innovative real estate developers, has signed a contract with an Al Habtoor / Murray & Roberts joint venture for the construction of the Trump International Hotel & Tower on Palm Jumeirah.
The contract valued at AED 2.9 billion has been awarded for the construction of the eagerly awaited 62-storey structure, which is set to become a focal point of the Palm Jumeirah. The 270 metre design, which has a total gross built-up area in excess of 250,000 square metres, will feature two towers that rise above the Palm Monorail and central park, merging as one towards the sky. The development comprises a unit mix of 378 hotel rooms and suites, 385 condominiums, 12 exclusive townhouses, and 45,000 square feet of retail and 60,000 square feet of office space.
Trump International Hotel & Tower Dubai is the only planned mixed-use development in Dubai under the Trump name, bringing Donald Trump's internationally respected brand cache and legendary implementation, service standards and world class properties to the emirate for the first time. The building will offer panoramic views of the Arabian Gulf and a range of exclusive leisure facilities including a private beach, yacht club, and a multitude of fine dining experiences.
Donald J. Trump, Chairman and President, The Trump Organization, said:
"Trump, Nakheel and Dubai--this is a combination that makes a luxury destination point an absolute necessity for the world traveller. Trump International Hotel & Tower Dubai will not only be spectacular, but will offer the ultimate in luxury with the finest amenities available in the world. That's what Trump stands for, and that's what we'll deliver. Having the combined expertise of the Al Habtoor/Murray & Roberts construction teams will ensure the greatness of our plans. I'm looking forward to a fantastic success!"
Chris O'Donnell, Nakheel CEO, said:
"Nakheel and Donald Trump have come together to create one of the most anticipated new builds in Dubai and perhaps the world. No other development in Dubai will offer the same standards of service and amenities in such a highly coveted location - where else in the world could you step out of your luxury apartment and have instant access to world class marinas, 30 five star hotels, Atlantis and Cirque du Soleil?
"The partnership with the Al Habtoor / Murray & Roberts joint venture will ensure that the bold and ambitious design of Trump International Hotel & Tower Dubai is brought to life. Both construction companies have vast experience of delivering high quality developments across the Middle East and possess the expertise necessary to turn this iconic design into reality."
Trump International Hotel & Tower Dubai is the first joint venture between Nakheel and The Trump Organisation with construction on the project commencing in July 2008 and completion due in May 2011.
Al Habtoor Leighton Group was established in September 2007 following the merger of Al Habtoor Engineering with the Arabian Gulf operations of Leighton International. The new entity immediately became the UAE's largest construction group, with revenue of over AED 6 billion in 2007. Murray & Roberts is South Africa's leading construction and engineering group specialising in a number of regions across the world including the Middle East.
-Ends-
About Nakheel
Nakheel is one of the world's largest privately held real estate developers, and a key player in realising the vision of Dubai for the 21st century: creating a world class destination for living, business and tourism.
Nakheel is developing an iconic portfolio of innovative landmark projects in Dubai, and now in key markets around the globe, across a range of sectors - residential, commercial, hotels, retail, and leisure. Nakheel's projects are conservatively estimated to be worth US$80 billion. Upon completion Nakheel's waterfront projects will have added more than 1,000km of shoreline to Dubai's coastline.
Nakheel's Dubai portfolio currently includes Palm Jumeirah, Palm Jebel Ali, Palm Deira, The World, Waterfront, The Universe, Jumeirah Islands, Jumeirah Village, Jumeirah Park, Jumeirah Heights, The Gardens, Discovery Gardens, Ibn Battuta Mall, Al Furjan, International City, and Dragon Mart.
Nakheel is a key entity within Dubai World. Dubai World is one of the world's largest holding companies and supervises a portfolio of businesses and projects for the Dubai government across five continents and more than 100 countries.
About The Trump Organization
The Trump Organization is a global leader in real estate development, sales and marketing, and property management representing the highest level of excellence and luxury in residential, commercial, hotel and golf properties. With over 70 projects current and upcoming, The Trump Organization is responsible for many of the world's most recognized developments, and is renowned for commanding a sizeable premium on saleable real estate relative to the markets that it enters.
The Trump Hotel Collection, a division of The Trump Organization, has 11 hotels in development representing the next generation of luxury hospitality - one that promises to raise the bar on top-end travel experience with a style of customized service that is unmatched. The newly opened Trump International Hotel & Tower Chicago was named Condé Nast Traveler's "Hottest New Hotel in North America", and its sister hotel in Las Vegas has also received rave reviews.
Highlighted properties in The Trump Organization portfolio include Trump Tower, Trump International Hotel & Tower New York, Trump Park Avenue, Trump Ocean Club International Hotel & Tower Panama, and Trump National Golf Club Bedminster, New Jersey. In addition, exciting upcoming properties include Trump SoHo Hotel Condominium New York, Trump International Hotel & Tower Waikiki, Trump International Hotel & Tower Toronto, Trump Towers Philadelphia, Trump Towers Istanbul Sisli, Trump Ocean Resort Baja Mexico, Trump at Cap Cana, Trump International Golf Club Puerto Rico, and Trump International Golf Links Scotland.
Donald J. Trump is the Chairman and President of the Trump Organization, the privately held company in New York. His children, Donald J. Trump, jr. Ivanka Trump and Eric Trump, all Vice Presidents of the organization, work together diligently with Mr. Trump to manage and grow this global brand. (www.Trump.com)
About Palm Jumeirah
Palm Jumeirah is currently the world's largest man-made island covering 560 hectares of land dedicated to residential, tourism, leisure and retail developments. Synonymous with Dubai's vision of the future, Palm Jumeirah is an iconic landmark which during the next five to six years will become one of the world's premier resorts, offering more than 30 beach front hotels as well as a wealth of retail and leisure choices. Further information can be found at www.nakheelmediacentre.com
For more information please contact:
Four Communications: nakheel@fourcommunications.com
tel: +971 55 985 3375/3377
Nakheel:
Aaron Richardson,
Media Relations Manager
+971 (0)50 553 8201
aaron.richardson@nakheel.com
© Press Release 2008
