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One of the largest Dubai developers Damac has close ties with Donald Trump’s company in the sphere of construction of golf courses, golf communities and luxury villas in Dubai. As a result, many of the projects nearing completion bear the name of the Trump’s brand. What such projects’ investors should expect after the owner of this brand has been elected for the US president?
Experts say that such a situation is quite a “quandary”, for usually everything happens quite the opposite: a politician or a public figure in the past, the owner of the brand becomes a businessman starting his own trademark or a brand. However, the fact that some residential clusters of luxury villas in Akoya by Damac, as well as golf courses and club houses now possibly may be qualified using the epithet "presidential", will definitely add to their market rating, and possibly may add some zeros to their price tags.
Damac has so far refused to give comments on the matter, preferring to stick to the wait-and-see strategy, but the golden rule of branding, especially in real estate, says that units having any privileged status and associated with the royals, presidents of countries and other high-ranking officials, bring the average of 30 per cent more ROI than those not having the same status. However, due to the ambiguous global attitude to Donald Trump as a character, it could be quite the opposite, experts presume.
The Trump International Golf Course is now being completed in the middle of the 42 million square feet Akoya by Damac project in Dubailand, being launched back in May 2013. Damac has a deal for two more golf courses and a residential development under Trump’s brand, and Niall McLoughlin, a senior vice-president at Damac Properties, has emphasized the following:
“We would like to stress that our agreement is with the Trump Organization as one of the premium golf course operators in the world and as such we would not comment further on Mr Trump’s personal or political agenda, nor comment on the internal American political debate scene.”
However, there is enough premium real estate in Dubai, including, for example, luxury villas on the man-made island of Palm Jumeirah and Emirates Living, which bring their owners up to 10 per cent of ROI annually without any mention of certain politicians in their community names. And, by the way, these areas commanded for the highest value property transactions registered in the previous quarter. Read about it in our news tomorrow. And to always stay aware of the current events, subscribe to IMEX Real Estate news right down here:
