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The future of the Trump International Hotel and Tower depends on Nakheel, according to Donald Trump Jnr.
The real estate tycoon told Construction Week in a meeting behind closed doors that the recommencement of construction of the hotel, that was to become the Palm Jumeirah’s central iconic structure, is now in the hands of the local developer.
Dubai-based Nakheel is the master developer of the project.
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“I am hoping we can restart work on the project within the next two years but it all depends on the market situation,” said Trump Junior.
“We are not an equity investor in the project; we have an active marketing role but at the end of the day, the ball is in their (Nakheel’s) court,” he added.
He also said that he did not think it wise to begin construction on the hotel and tower project at this stage because of the current market situation.
“You’ve got to see what the market demands and restarting the project of that nature in this region at this stage doesn’t make much sense,” he clarified.
Work on the project came to a grinding halt in May when it was announced that it had been delayed indefinitely.
No-one at Nakheel's stand was available to comment on Trump's remarks at the time of writing.
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