IndustryTap recently wrote about $616 billion Millennium Tower Boston, a project that lay inert from 2006 to 2013, victim to the “Global Economic Crisis” or “Global Credit Crunch.” The project finally became an active worksite when its owner, Millennium Partners, cobbled together financing.
Donald Trump, who has more lives than a cat, having raised himself Phoenix-like from the ashes of bankruptcy four times and narrowly missing a helicopter crash that claimed the life of one of his most-trusted partners, was forced to halt construction of Trump Hotel Dubai in 2009 due to the financial instability of a key partner. The hotel was expected to be 62 stories tall and bring with it Trump’s signature “chutzpah,” becoming part of what is now called the “Eight Wonder of the World,” Palm Jumeirah. The clear lesson is that if Trump can get financing, the project will go forward. The original design was to feature split-linked pinnacles that would rise above the Palm Golden Mile.
Last month, Trump hired Shafi Syed, as VP of Development and Acquisitions for India, the Middle East and Africa. Syed will work out of the Trump Dubai headquarters. If anyone can revive the project, it is Syed, whose experience at Wyndham Exchange, Cendant VNG and Taj Hotels, Resorts & Palaces India should be a boon to Trump.
Trump’s most recent project in the region, “Trump International Golf Club, Dubai”, is a 7,205 yard, par 71,18 hole PGA Championship golf course with a 30,000 square foot state-of-the-art clubhouse and Trump Spa & Wellness Center. The course is being designed by world-renowned golf course architect Gil Hanse and will be completed in 2016. Trump owns luxury properties in New York, Chicago, Panama, Toronto, Miami and Washington, DC. The following video goes into detail on Trumps golf course projects.
