The family business · Before politics · № 5
Trump lends his name to a Dubai tower planned by state-owned developer Nakheel
- Date
- , Reported by The New York Times, the Associated Press and The National
- Subject
- United Arab Emirates
- Benefit
- Real estate and licensing
- Government
- United Arab Emirates
- Beneficiary
- Donald Trump (Trump Organization)
- Topic
- Ethics & conflicts
- Era
- Before politics
What happened
Trump made his first deal in Dubai in 2005, to build a hotel with a state-owned developer, The New York Times reported. The project, the Trump International Hotel & Tower on the Palm Jumeirah, was first announced in 2005 and unveiled at gala events in New York and Los Angeles in 2008, with Trump presiding over the Manhattan event, according to The National. The Associated Press described it as a 62-story tower with the state-backed developer Nakheel that fell victim to Dubai's financial crisis. Nakheel cancelled the project in February 2011, during a restructuring in which the Dubai government was injecting $8 billion into the company. None of the sources cited here reports what Trump was paid for the use of his name. Freedom House rated the United Arab Emirates Not Free in its 2005 report.