Donald Trump Jr, the son of the flamboyant New York property scion, said the fate of the planned Trump International Hotel & Tower on the trunk of the Palm Jumeirah rested solely with Nakheel.
"I'd love to go forward within two years," he said in an interview at Cityscape Dubai, the annual property conference that started today. "We're not an equity investor... The ball is in their court. They will make the determination going forward because it is their dollar being spent."
The planned tower, which would be comprised of two buildings that connect at the top, began initial construction last year but was put on hold as a property downturn took the market by storm last autumn. Nakheel, a Government-owned development company, is undergoing a major restructuring as it tries to deal with a dramatically changed market and a US$3.5bn (Dh12.8bn) Islamic bond coming due in December.
Mr Trump said the Dubai property market was oversupplied and lacking a clear road to recovery, but was beginning to re-emerge with a "sense of reality".
"There was an element of one upmanship before," he said. "I think we are starting to see people come back with a sense of reality of what you should and shouldn't do."
A crucial concern for the market over the next year will be the regulations governing visas, Mr Trump said.
The system of cancelling visas for people who were laid off from their jobs was "ostracising the same people who took the leap to come here".
"You should be welcoming these people," he said. "If you throw them out, they are not likely to come back in six months when you need them. There is a wasteful mentality to that system."
bhope@thenational.ae
Need to know
The flights: Flydubai flies from Dubai to Kilimanjaro airport via Dar es Salaam from Dh1,619 return including taxes. The trip takes 8 hours.
The trek: Make sure that whatever tour company you select to climb Kilimanjaro, that it is a reputable one. The way to climb successfully would be with experienced guides and porters, from a company committed to quality, safety and an ethical approach to the mountain and its staff. Sonia Nazareth booked a VIP package through Safari Africa. The tour works out to $4,775 (Dh17,538) per person, based on a 4-person booking scheme, for 9 nights on the mountain (including one night before and after the trek at Arusha). The price includes all meals, a head guide, an assistant guide for every 2 trekkers, porters to carry the luggage, a cook and kitchen staff, a dining and mess tent, a sleeping tent set up for 2 persons, a chemical toilet and park entrance fees. The tiny ration of heated water provided for our bath in our makeshift private bathroom stall was the greatest luxury. A standard package, also based on a 4-person booking, works out to $3,050 (Dh11,202) per person.
When to go: You can climb Kili at any time of year, but the best months to ascend are January-February and September-October. Also good are July and August, if you’re tolerant of the colder weather that winter brings.
Do not underestimate the importance of kit. Even if you’re travelling at a relatively pleasant time, be geared up for the cold and the rain.
The biog
Favourite Quote: “Real victories are those that protect human life, not those that result from its destruction emerge from its ashes,” by The late king Hussain of Jordan.
Favourite Hobby: Writing and cooking
Favourite Book: The Prophet by Gibran Khalil Gibran
