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Nakheel Taps Trump to Develop on Manufactured Islands

DUBAI-The Trump Organization enters into a joint venture with the developer for hotel and condominium developments on its man-made islands in the Persian Gulf.

By Brian K. Miller | Updated on October 06, 2005

DUBAI-Locally based developer Nakheel LLC has entered an agreement with the Trump Organization to develop properties on its man-made islands. Trump’s first project will be on “the Palm,” Nakheel’s name for a trio of manufactured islands in the Persian Gulf.

The first Trump the first development will occur on a 6,177-acre island shaped like a palm tree. The island, called Jumeriah, will be home to the 50-story Palm Trump International Hotel & Tower and, after that, the Trump Plaza and Marina Residences. The announcement comes after the sell out of the existing residential components on Jumeriah, which includes hotels, condominiums, villas and townhouses.

The Trump Organization will also be launching a development on Nakheel’s other major development, The World, which consists of a series of 300 man-made islands positioned to form the shape of the world map on the sea. In both projects, Trump not only will be the developer but also will also co-ordinate all sales, operate the hotels and manage each real estate development.

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