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Wed 21 May 2014 09:27 AM

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"Trump effect" will see Dubai properties rise 50% - The Donald

US billionaire says his self-titled golf course will bring celebs, tournaments to Dubai, which he says has a “tremendous” way to go to return to peak property prices

"Trump effect" will see Dubai properties rise 50% - The Donald

US businessman Donald Trump reckons his self-titled new golf course in Dubai will cause nearby property prices to rise by about 50 percent and will attract celebrities who otherwise would not travel to the emirate.

The billionaire said he also expected to attract international professional golf tournaments to the course, which will be the centrepoint of Akoya by Damac, a master development near Arabian Ranches.

Trump said that the golf course he built in Aberdeen, Scotland, was the catalyst for a similar effect on its surrounding areas and that he believed this would be repeated in Dubai.

“You saw the Trump effect, I mean it's over 50 percent,” Trump told Arabian Business during an interview after launching the Dubai course.

“It's tremendous, people just pouring in all over the world to play this course. If you do a good course or a ... world-class facility, people are going to come from all over the world to play it.”

Trump’s project in Dubai also involves 100 villas in the Trump Estates, which will overlook the golf course. He expects prices of not only his development but surrounding properties to benefit from his name.

“I think you’re going to have a huge Trump factor here,” he said. “I think it’s going to have a tremendous positive effect.

“I think it’ll have a spill over beyond this development; I think it’s going to benefit other developments as well.”

The avid golfer – his handicap is four – said the Dubai course, which is designed by renowned golf course architect Gil Hanse, would attract big names and tournaments.

He said he had a “good chance” of bringing the prestigious Ryder Cup to the emirate.

“I think you’ll have Michael Jordan coming, I think you’ll have President Clinton coming, I think you’ll have the biggest celebrities in the world coming, because this is going to be a truly great course,” Trump said.

The golf course and Trump Estates will be the businessman’s first completed project in Dubai, after a plan to build Trump Towers on Nakheel’s Palm Jumeirah was scrapped amid the property market crash.

Trump said he had always wanted to do something in Dubai and now was a better time to return to the market. Property prices had a “tremendous” way to go to return to their 2008 peaks, he said.

“I think the real estate in Dubai is only going to go up,” he said.

“These numbers are much lower than years ago [before the market crash].

“Look at the prices prior to the world going down and then look at them now; there’s a tremendous gap.”

Trump said Dubai had become “very conservative” in lending and had introduced “tremendous” checks and balances to improve the property market.

“This is a much more different time and I think it’s a much smarter time,” he said.

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