Key contract issued for Dubai's $1 billion Trump tower as 80 percent of units are pre sold
Aug 7, 2026
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.
Source
The National
Related news
Tehran Rents Outpace 25 Percent Legal Cap as Some Deposits Rise to 1 Billion Tomans
According to Khabar Online, citing Mehr News Agency, published Sunday, September 6, 2026 (15 Shahrivar 1405), field reports point to some landlords exceeding the 25 percent cap on rent and deposit increases that Iran's three branches of government set for 1405 (2026 to 2027) residential lease renewals. One tenant on Tehran's Piroozi Street, who signed last year at a 150 million toman deposit and 12 million tomans in monthly rent, said his landlord is now demanding either an extra 1 billion toman deposit or 30 million tomans a month to renew, a figure he said far exceeds the area's actual market rate, estimated by local real estate agents at about 700 million tomans for a full deposit or up to 17 million tomans in rent. According to the latest data from Iran's Statistical Center, the annual inflation rate for residential unit maintenance and repair services reached 65.9 percent in the month ending August 22 (Mordad 1405), a figure showing that cost pressure on tenant households is not limited to rent and deposits alone.
Khabar Online, citing Mehr News Agency · Sep 6, 2026
Iran's Housing Rent Inflation Hits a 45 Month Low in Mordad
According to a report by the Ministry of Roads and Urban Development and Iran's Statistical Center, published by IRNA and carried by Donya-e-Eqtesad on Saturday, 7 Shahrivar 1405 (August 29, 2026), annual inflation in Iran's housing rent index reached 32.3 percent in Mordad (the month ending August 22, 2026), the lowest annual rate for this market since Azar 1401 (November/December 2022). Point to point rent inflation for the month was reported at 31.8 percent, while the country's overall point to point inflation for the same month was 89 percent, about three times the rent figure. Annual overall inflation was reported at around 70 percent, more than double Mordad's annual rent inflation. Among 12 categories of household goods and services, the rental market recorded the lowest point to point and annual inflation in Mordad, while the tobacco and food and beverage categories saw the steepest price increases, at about 161 percent and 127.5 percent point to point inflation respectively.
Donya-e-Eqtesad, citing IRNA and Ministry of Roads and Urban Development · Aug 29, 2026
2,295 National Housing Units Delivered in Hamedan Province
A total of 345 urban and 1,950 rural housing units under Iran's National Housing scheme were delivered in Hamedan province, Khabar Online reported. Speaking at the inauguration ceremony in Nahavand, Roads and Urban Development Minister Farzaneh Sadegh Malvajerd said about 100,000 National Housing units have been opened in Hamedan to date, with 80,000 of them delivered over the past two years. She said 850,000 people have registered for the scheme in Hamedan, of whom 350,000 belong to the lowest four income deciles, and that the government remains committed to housing them. The minister cited income tier based loans, land swaps with contractors, and Housing Foundation loans for low income applicants as support measures. The ceremony was held on August 25, 2026 (3 Shahrivar 1405).
Khabar Online · Aug 25, 2026
In Mazandaran, Construction Begins on the 10,000 Unit Gohar Baran Housing Town
Construction has begun on a 10,000 unit residential town called Gohar Baran in Mazandaran province, Khabar Online reported. Hojjatoleslam Majid Ansari, the president's deputy for legal affairs, said at the groundbreaking ceremony that housing supply is one of the government's top priorities and is emphasized in the country's Seventh Development Plan. He said that given limited government resources, the project was designed to draw on asset monetization and private sector investment. Ansari also pointed to the high value of land in Mazandaran and stressed the need to use it efficiently to secure housing for future generations. The ceremony was held on August 25, 2026 (3 Shahrivar 1405).
Khabar Online · Aug 25, 2026