Donald Trump To Work With Developer DAMAC To Build Golf Resort In Dubai
Privately held developer DAMAC Properties said on Sunday that "it would work with American real-estate mogul Donald Trump to build a new golf course in Dubai, adding to a growing list of project announcements in the emirate," according to REUTERS. Developers in Dubai "are reviving stalled projects and announcing new ones as the emirate's property market recovers gradually after prices tumbled" by 50% in '08. DAMAC Properties said that the Trump Int'l Golf Club Dubai will be at the center of its 28 million square foot development called "Akoya by DAMAC." Construction "is already underway and the course will be ready next year" (REUTERS, 5/5). ARABIAN BUSINESS' Courtney Trenwith wrote the golf course is to be "surrounded by mansions, villas, townhouses and luxurious apartments." It will also include a spa, boutique hotels and int'l schools from kindergarten to secondary, as well as globally-recognized retail brands, "leisure and entertainment offerings and a sports complex." Trump Int'l Golf Club "will include a 30,000 square foot state-of-the-art club house and luxurious Trump Spa & Wellness Centre, which will be managed by The Trump Organization" (ARABIAN BUSINESS, 5/6). GLOBEST's David Phillips wrote a recent study by accounting firm KPMG for the first time "placed the UAE in the top 10 most popular destinations worldwide for golf tourism." Dubai and Abu Dhabi "sit in 6th place on the table," ahead of more established destinations including the U.S., U.K. and South Africa (GLOBEST, 5/7).