Key contract issued for Dubai's $1 billion Trump tower as 80 percent of units are pre sold

Developer Dar Global said on Thursday, August 6, 2026 (15 Mordad 1405) that it has awarded a contract to build the podium of the Trump International Hotel and Tower in Dubai to Gulf Asia Contracting, a step The National reported brings the $1 billion project closer to completion. The contract follows the completion of enabling works, and the 80 floor tower on Sheikh Zayed Road is expected to be finished within five years.

Ziad El Chaar, Dar Global's chief executive, told The National that sales performance has been "outstanding," with 80 percent of the tower's more than 500 units already sold to buyers from about 40 countries including India, Pakistan, the UK, Saudi Arabia, Lebanon, Iraq, Kuwait, Oman, Turkey, Romania and Russia. Construction continues at a time when, The National reported, the UAE property market has largely weathered the fallout from the Iran war; a CBRE report showed Abu Dhabi residential prices rose about 21.6 percent year on year in the second quarter of 2026, while Dubai prices grew by about 1.9 percent.