Dubai’s Trump-branded real estate project has a new name
It’s time for what seems like your weekly Trump update. The latest news comes from Damac Properties, who have just announced that their luxury development, Akoya by Damac, which will feature Trump International Golf Course, is being renamed ‘Damac Hills’.
According to a statement by the developer, the 42 million square foot community, which is made up of a high-end golf course, villas and low rise apartments, now has a name elevates the brand.
Niall McLoughlin, Senior Vice President at Damac Properties, said in a statement: “In celebration of the opening of its doors to new residents and soon-to-open golf club, we felt the name ‘Damac Hills’ elevates the brand, signifying refinement and sophistication. As a company, we feel it best encapsulates our sense of pride in this incredible development and marks our successful foray into master planned communities.”
“The launch of Damac Hills marks our evolution into becoming a successful master developer. The complexity and size of such a large-scale project is testament to our ability to deliver from start to finish a fully-integrated community and for this reason we are pleased to put our name to it.”
The development is a mega AED22 billion project now taking shape in Dubailand.
Within the project there are two Trump real estate projects, which now make up Damac Hills: a set of 100 villas that are specifically designed by the Trump Organisation and PVRT villas, which is a gated community overlooking the Trump International Golf Course.
According to Land Sterling, 5 bedroom villas are currently selling from between AED6.3 million to AED6.5 million. The PVRT villas are a bit more pricey, starting at AED6.5m. These ones look quite fancy. According to the website, “each mansion comes with its own Trump Card, which opens doors to a host of privileges across the globe. From the glamour of New York City and Las Vegas to exotic Waikiki and Ireland’s historic Doonbeg, you’ll enjoy stellar service and exclusive benefits in signature Trump style.
These prices are around 7 percent down on last year, but that seems to be more in line with the general slump in property prices rather than any negative sentiment around the new US president.
And if you don’t fancy any of those, you might not have to wait too much longer for more Trump projects. The new president said he had been approached by Damac earlier this year for a new $2 billion (AED7.3 billion) project in Dubai. Although he turned that down, his company is now said to be in talks with Damac over other new developments.