DAMAC teams up with Trump to build Dubai golf course
Trump International Golf Club Dubai will be at the centre of DAMAC’s 28 million square foot development
Donald Trump and DAMAC Properties plan to build a golf course in Dubai.
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DAMAC Properties, the Dubai based property developer, said on Sunday that it would work with the 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.
A Reuters report said that the project announcement was part of a wider plan to revive stalled projects and announce new ones as the emirate’s property market recovers from the downturn in 2008.
The Trump International Golf Club Dubai will be at the centre of DAMAC’s 28 million square foot development called ‘Akoya by DAMAC’, the developer said.
Construction is already underway and the course will be ready next year. DAMAC will be the owner and developer of the property, with the Trump name used under the terms of a management agreement.
Donald Trump cancelled a previous foray into Dubai’s real estate market, a project to build an international hotel tower on Dubai’s Palm Jumeirah, after the emirate’s property downturn.
DAMAC, formed in 2002, has completed 37 buildings and has another 66 buildings under construction across the Middle East and North Africa region.
Sources told Reuters in April that the developer had submitted requests to leading international banks for a possible listing of its shares.
