Dubai is one of the hottest property markets in the world, according to Eric Trump, executive vice president of the Trump Organisation.
The organisation, in partnership with London-listed Dar Global, has unveiled the Trump International Hotel and Tower, a $1 billion development in Dubai. It will have a Trump-branded hotel, residential units and a clubhouse.
The development will have two penthouses costing Dh75 million ($20.4 million) each, while a three to four-bedroom apartment will be sold for about Dh4 million to Dh5 million, according to the company's top executives.
Mr Trump said he would accept cryptocurrency for property purchases at the new project.
The project will emerge at the entrance of Downtown Dubai on Sheikh Zayed Road and will be completed in five years.
Dubai is “certainly one of the” hottest property markets in the world, “as evidenced by the amount of tower cranes and the kind of luxury projects being built”, Mr Trump told The National in an interview in the emirate on Tuesday.
“What's interesting is everybody's trying to redefine luxury, redefine kind of the highest pinnacle, and they're all succeeding,” he said.
Dubai has “become a destination for the entire world", he added.
"It's become such a safe haven for so many people, so many countries, so many people want to put money here," Mr Trump said. "So many people want to invest here, from all over the world, all over Europe, the Asian continent, all over Africa. Dubai has really become the epicentre.”
The influx of high-net-worth individuals has been boosting Dubai's property market, which has been benefiting from government initiatives such as residency permits for retired and remote workers, expansion of the 10-year golden visa programme and overall growth in the UAE’s economy on diversification efforts.
Dubai registered 111 sales of homes valued at more than $10 million in the first quarter of 2025, up 5.7 per cent on an annual basis, with a total value of $1.9 billion, Knight Frank said in a recent report on Tuesday.
Last year, the UAE saw the arrival of 7,200 millionaires, building on an influx of 4,700 in 2023 and 5,200 in 2022, Knight Frank said, quoting data from Henley & Partners. The total number of dollar millionaires in the UAE stood at 130,500 at the end of December, ranking the Emirates as the 14th-largest wealth market globally.
“Dubai's real estate market is going to continue to absolutely boom and we're going to set the kind of new standard in terms of price per square foot and luxury in the market,” Mr Trump said.
The Trump Organisation, with a portfolio of real estate developments comprising resorts, hotels, golf courses and residential properties in several countries, is not new to the region.
The company has a presence in Dubai as part of a partnership with developer Damac for two golf developments in its Akoya project.
It has also teamed up with Dar Global for the development of a resort that will include villas, a hotel and golf course in Muscat as well as a two billion Saudi riyals ($533 million) residential development in Jeddah that was unveiled in December.
The company is also working with the Saudi developer on two more residential projects in Riyadh.
The Trump International Hotel and Tower will accept cryptocurrencies from buyers to purchase property, Mr Trump said.
Both Mr Trump and his father, the US President, are huge supporters of cryptocurrencies.
The project “is going to be the first truly large-scale project that accepts Bitcoin, that accepts cryptocurrency to purchase units, and that's really exciting for me, because I love that world and I am deeply invested in that world”, he added.
“I believe in cryptocurrency. It's the financial mechanism of the future … it’s still in its infancy, but the growth has been explosive,” he said. Real estate and cryptocurrencies are “credible hedges for one another” and “when I can see two worlds that I truly love come together, it's very exciting”.
More people from the US are expected to invest in property in Dubai as “Americans are trying to learn what the Middle East is, better than ever before”, Mr Trump said.
“The Middle East for so many Americans was always fairly misunderstood, and now you can't go anywhere without hearing somebody talk about Dubai or the experience they had and I think that's great.”
Dubai is a mix of global cities including Monaco, Las Vegas and New York with a “tax haven, entertainment and true financial power”, which is appealing to buyers, he added.
The company will also be looking to launch more projects in the region as the economies continue to grow, Mr Trump said.
“It certainly won't be our last project. We've got the greatest partners in the world in Dar Global.”
US President Donald Trump's tariffs will have a minimum impact on the Gulf region, according to him. “The Gulf's service-based economy and lack of significant manufacturing make it less vulnerable to tariffs,” he said.
The Gulf region was levied with 10 per cent tariffs by the US administration earlier this month, much lower than other Middle East countries such as Tunisia, Jordan, Syria and Iraq.
The Trump International Hotel and Tower will be funded through a mix of bank borrowing, the company's own equity, cash and collections from investors, Ziad El Chaar, Dar Global's chief executive, said.
“We have approximately half a billion dollars of equity in the company, and we finished the year with a good cash position, close to $160 million,” Mr El Chaar said.
“We will also work with the local banks to fund mainly the construction of the hotel and the club.”
Dar Global, the international property development unit of Saudi Arabia's Dar Al Arkan, has a property portfolio worth $10 billion with projects in countries including the UAE, Oman, Saudi Arabia, the UK and Spain.
The company is also looking at developing projects in Athens, Greece, and some parts of the US.
“The common denominator of all these cities is that they are diversified. Each city attracts a big number of nationalities. Thereby, the investment is always more secure, more stable,” Mr El Chaar added.
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Mohammed bin Zayed Majlis
MATCH INFO
Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid
When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
Key findings of Jenkins report
- Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
- Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
- Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
- Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.
Sunday's games
All times UAE:
Tottenham Hotspur v Crystal Palace, 4pm
Manchester City v Arsenal, 6.15pm
Everton v Watford, 8.30pm
Chelsea v Manchester United, 8.30pm
Mobile phone packages comparison
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Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
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Company profile
Name: The Concept
Founders: Yadhushan Mahendran, Maria Sobh and Muhammad Rijal
Based: Abu Dhabi
Founded: 2017
Number of employees: 7
Sector: Aviation and space industry
Funding: $250,000
Future plans: Looking to raise $1 million investment to boost expansion and develop new products
THE SPECS
Range Rover Sport Autobiography Dynamic
Engine: 5.0-litre supercharged V8
Transmission: six-speed manual
Power: 518bhp
Torque: 625Nm
Speed: 0-100kmh 5.3 seconds
Price: Dh633,435
On sale: now
Queen
Nicki Minaj
(Young Money/Cash Money)
Essentials
The flights
Etihad and Emirates fly direct from the UAE to Delhi from about Dh950 return including taxes.
The hotels
Double rooms at Tijara Fort-Palace cost from 6,670 rupees (Dh377), including breakfast.
Doubles at Fort Bishangarh cost from 29,030 rupees (Dh1,641), including breakfast. Doubles at Narendra Bhawan cost from 15,360 rupees (Dh869). Doubles at Chanoud Garh cost from 19,840 rupees (Dh1,122), full board. Doubles at Fort Begu cost from 10,000 rupees (Dh565), including breakfast.
The tours
Amar Grover travelled with Wild Frontiers. A tailor-made, nine-day itinerary via New Delhi, with one night in Tijara and two nights in each of the remaining properties, including car/driver, costs from £1,445 (Dh6,968) per person.
The specs
Engine: Turbocharged four-cylinder 2.7-litre
Power: 325hp
Torque: 500Nm
Transmission: 10-speed automatic
Price: From Dh189,700
On sale: now
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
MATCH INFO
What: India v Afghanistan, first Test
When: Starts Thursday
Where: M Chinnaswamy Stadium, Bengalaru
How to apply for a drone permit
- Individuals must register on UAE Drone app or website using their UAE Pass
- Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
- Upload the training certificate from a centre accredited by the GCAA
- Submit their request
What are the regulations?
- Fly it within visual line of sight
- Never over populated areas
- Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
- Users must avoid flying over restricted areas listed on the UAE Drone app
- Only fly the drone during the day, and never at night
- Should have a live feed of the drone flight
- Drones must weigh 5 kg or less
RESULTS
Bantamweight title:
Vinicius de Oliveira (BRA) bt Xavier Alaoui (MAR)
(KO round 2)
Catchweight 68kg:
Sean Soriano (USA) bt Noad Lahat (ISR)
(TKO round 1)
Middleweight:
Denis Tiuliulin (RUS) bt Juscelino Ferreira (BRA)
(TKO round 1)
Lightweight:
Anas Siraj Mounir (MAR) bt Joachim Tollefsen (DEN)
(Unanimous decision)
Catchweight 68kg:
Austin Arnett (USA) bt Daniel Vega (MEX)
(TKO round 3)
Lightweight:
Carrington Banks (USA) bt Marcio Andrade (BRA)
(Unanimous decision)
Catchweight 58kg:
Corinne Laframboise (CAN) bt Malin Hermansson (SWE)
(Submission round 2)
Bantamweight:
Jalal Al Daaja (CAN) bt Juares Dea (CMR)
(Split decision)
Middleweight:
Mohamad Osseili (LEB) bt Ivan Slynko (UKR)
(TKO round 1)
Featherweight:
Tarun Grigoryan (ARM) bt Islam Makhamadjanov (UZB)
(Unanimous decision)
Catchweight 54kg:
Mariagiovanna Vai (ITA) bt Daniella Shutov (ISR)
(Submission round 1)
Middleweight:
Joan Arastey (ESP) bt Omran Chaaban (LEB)
(Unanimous decision)
Welterweight:
Bruno Carvalho (POR) bt Souhil Tahiri (ALG)
(TKO)
