Words: Ashley Rigg
Published: 2nd December 2009
Hindsight is a wonderful thing for Donald Trump
Property billionaire and star of the American hit TV show, The Apprentice has declared what almost everyone in the industry has known for a long time; that Dubai is beset with problems of over-supply.
On Swawk Box, a show on
US TV network CNBC, he questioned why so many investors had piled into Dubai: "What is the purpose of Dubai, what's the purpose of building so much?" he said.
"You walked through those streets and it was like New York City times ten in its heyday. I've never seen anything like it in my life and you said 'where did these people come from?' Well, it turns out that they didn't come."
Could this be the same Donald Trump that
struck a deal with Nakheel in June 2008 to build a $1.1bn hotel on the luxury Palm Jumeirah development off the coast of Dubai? Penthouse suites were supposed to sell for $3,000 per square foot to actors and premiership footballers who attended the launch.
Not Donald’s fault
Explaining why work had
abruptly stopped on the hotel at the end of last year he said:
"I was going to do a deal there with Nakheel and they paid me a lot of money to go into a partnership and they were getting ready to start the building about a year ago and they were all excited and then the market collapsed on them".
Hindsight truly is a wonderful thing!
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User Comments
at least you got paid a tonne of money, Donald.
Will you say the same about Serrenia Trump marina when that is not built?
What does th Trump name mean these days? In your biography, and in the film of your life, It was your name that meant everything?
Sellout?
ross donaldson,
Experience International