Dubai's Nakheel still touting shelved Trump Tower

  • Share via facebook
  • Tweet this
  • Bookmark and Share

Debt-ridden Dubai developer Nakheel is still promoting its Trump International Hotel  & Tower project, more than four years since it was halted.

According to Nakheel’s website for the Palm Jumeirah, the project is “The striking centrepiece of the island”, adding that it is “a 60-storey mixed-use luxury hotel and residential building destined to become a landmark icon in Dubai’s skyline”.

The project was first halted in 2009 after the Dubai property crash, and two years ago local media reported it had been scrapped. "We have to be realistic about these projects now… There is no market demand for them. We will be selective," chairman Ali Rashid Lootah told The National newspaper.

Last November, Nakheel opened its new US$6m Al Ittihad Park on the proposed site of the Trump project, with the monorail 'Trump Tower' station renamed 'Al Ittihad'.

Lootah said then: “Al Ittihad Park is a new, unique venue for residents to walk, jog or simply relax in natural, shaded surroundings, and a new tourist attraction for visitors to the UAE who want to learn about our country’s diverse plantlife.”

However, according to Nakheel’s website: “[Trump Tower] comprises a 368 room condo hotel and 388 freehold residential apartments. A dramatic sky lobby, suspended above The Park will create a grand sense of arrival. The lower floor retail area will provide a natural extension of The Golden Mile.”

The website adds: “The Trump International Hotel & Tower features a split-linked tower, an innovative open core design, which will minimise shadows and maximise views from the Shoreline Apartments and straight up The Trunk. Views from inside the tower will be spectacular as well, revealing inspiring panoramas of the island, Dubai and the Arabian Gulf, with all rooms benefiting from a sea view.”

Nakheel did not respond to enquiries from Arabian Business on why it continued to promote the project.

The company has been made to write down the value of its real estate assets by US$21.4bn since 2008 and has been forced into a US$16bn debt restructuring plan.

Related:
Companies
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

Posted by: Paolo C

How about opening a museum with all the nice brochures of the good old days. Maybe Dubai can repay some of its debts.

Posted by: OnceLovedNakheel

Please don't expose these small slips.
Nakheel has already shut most of the informative sites like jumeirah park.com or alfurjan.com etc... Even the customer info centres bluntly tell you that they have no maps of community and are unaware of most of the handover or development plans( when will community centre or retail will come up?....etc )

Posted by: Red Snappa

Well the vast majority are under the impression that 'The Donald' has long since washed his hands of the whole affair. If it was hoped that by leaving all these abandoned megaliths on the website, a sense of continuing substance would be conveyed, then the strategy is gravely flawed.

I'd prefer to think it's all a glaring oversight, but you never know!

Posted by: Mark

This looks like someone is not telling the TRUTH

Posted by: Johnny

Not sure it's about not telling the truth - think it's more about Nakheel being lazy on not amending their website since 2008. They still have the ridiculous Blue Communities project up there which was a joke when it was announced in 2008 and a joke now

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Time to invest?

Time to invest?

Foreign investors are seeing Qatar as an ideal place to purchase...

1
Heading for a correction?

Heading for a correction?

Property prices may have held relatively steady in Lebanon during...

1
Emaar's 'city of the future' explained

Emaar's 'city of the future' explained

The Iraqi city of Erbil is aiming to build on Dubai’s rapid march...

1
Most Discussed
  • 54
    Three UAE women attacked with hammer at London hotel

    I really feel that Arabian Business.Com should now close this comments page. This should be all about sympathy for the families not what it is/has turned... more

    Wednesday, 16 April 2014 1:06 PM - Adrienne
  • 51
    Why Dubai isn't a plastic city

    What is definitely not a plastic city. The Arabs have a culture dating back to several centuries. 50 years back Dubai was just a fishing village. Today... more

    Tuesday, 8 April 2014 3:49 PM - P. MADHUSUDAN
  • 48
    DMCC boss Ahmed Bin Sulayem entertains Robert Mugabe in Dubai

    @fga ''However today, simply because he decided to dispossess a few white farmers of their land and redistribute to the poorer indigenous blacks'' more

    Sunday, 13 April 2014 3:02 PM - Matt Williams