DONALD TRUMP LAUNCHES NEW HOTEL AND TOWER ON PALM JUMEIRAH DUBAI

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Nakheel, a Dubai World company and one of the world's largest and most innovative real estate developers, has signed a contract with an Al Habtoor / Murray & Roberts joint venture for the construction of the Trump International Hotel & Tower on Palm Jumeirah.

The contract valued at AED 2.9 billion has been awarded for the construction of the eagerly awaited 62-storey structure, which is set to become a focal point of the Palm Jumeirah. The 270 metre design, which has a total gross built-up area in excess of 250,000 square metres, will feature two towers that rise above the Palm Monorail and central park, merging as one towards the sky. The development comprises a unit mix of 378 hotel rooms and suites, 385 condominiums, 12 exclusive townhouses, and 45,000 square feet of retail and 60,000 square feet of office space.

Trump International Hotel & Tower Dubai is the only planned mixed-use development in Dubai under the Trump name, bringing Donald Trump's internationally respected brand cache and legendary implementation, service standards and world class properties to the emirate for the first time. The building will offer panoramic views of the Arabian Gulf and a range of exclusive leisure facilities including a private beach, yacht club, and a multitude of fine dining experiences.

Donald J. Trump, Chairman and President, The Trump Organization, said:

"Trump, Nakheel and Dubai‎this is a combination that makes a luxury destination point an absolute necessity for the world traveller. Trump International Hotel & Tower Dubai will not only be spectacular, but will offer the ultimate in luxury with the finest amenities available in the world. That's what Trump stands for, and that's what we'll deliver. Having the combined expertise of the Al Habtoor/Murray & Roberts construction teams will ensure the greatness of our plans. I'm looking forward to a fantastic success!"

Chris O'Donnell, Nakheel CEO, said:

"Nakheel and Donald Trump have come together to create one of the most anticipated new builds in Dubai and perhaps the world. No other development in Dubai will offer the same standards of service and amenities in such a highly coveted location - where else in the world could you step out of your luxury apartment and have instant access to world class marinas, 30 five star hotels, Atlantis and Cirque du Soleil?

"The partnership with the Al Habtoor / Murray & Roberts joint venture will ensure that the bold and ambitious design of Trump International Hotel & Tower Dubai is brought to life. Both construction companies have vast experience of delivering high quality developments across the Middle East and possess the expertise necessary to turn this iconic design into reality."

Trump International Hotel & Tower Dubai is the first joint venture between Nakheel and The Trump Organisation with construction on the project commencing in July 2008 and completion due in May 2011.