Work on iconic Trump Tower in Dubai halted indefinitely and site levelled
|Saturday, 30 May 2009|
It was to be one of Dubai's flashiest developments and success was assured by the Trump name. But now the Trump International Hotel and Tower site has been levelled and what was to be the centre piece of developer Nakheel's prestigious Palm Jumeirah project will fall quiet.
Nakheel, which was developing the project, first called a halt at the end of last year and a statement said that they project was delayed. Now it has been suspended indefinately.
The Al Habtoor Leighton Group confirmed that it is finishing levelling work and it will leave the site next month. A spokesman admitted that they have no idea when work might re-start but the site is ready for a possible resumption in the future.
'Initially they (Nakheel) thought it would be six to 12 months, but the honest answer's going to depend on what happens in the market. It's a high-end product, so it's got quite an unusual market,' said David Savage, the managing director of Al Habtoor Leighton Group.
'We're finishing off the ground levelling and will be leaving the site in the next month. Nakheel stopped the contract but we kept working with them to get the site closed up,' he added.
Trump Tower was to be the first in the region for global property entrepreneur Donald Trump. He even attended a lavish even in New York to launch the project.
Nakheel has delayed work on most of its high-profile projects, including Palm Deira, The Universe and Nakheel Harbour and Tower. Many of Dubai's iconic construction projects are either cancelled or on hold as the global property crisis hits the region hard.
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