Trump’s Middle East peace plan enjoyed majority support from respondents in the United Arab Emirates, Saudi Arabia and Egypt, according to a recent Zogby poll. Meanwhile, the latest ASDA’A BCW Arab Youth Survey found that 56% of those polled in 2020 called the U.S. an ally, up from 35% in 2018.
Damac’s support for Trump hasn’t always been steadfast. A year after the Trump World project was first announced, Damac pulled the then-candidate’s image from a billboard after he proposed barring Muslims from entering the U.S.
At the time, Damac declined to comment on personal or political matters regarding Trump.
Less than two years later, the relationship was back on track. Within a month after Trump’s inauguration in 2017, Eric and Donald Trump Jr. flew to Dubai to celebrate the opening of the partners’ first golf course in the city, the Trump International Golf Course.
The opening of the second Trump golf course will be an important test for Dubai — synonymous with luxury, glimmering skyscrapers, massive malls and breakneck growth — as it tries to dig out of a long real-estate slump.
Even before the pandemic, developers in Dubai were struggling to finish construction projects. Property prices have fallen for the past six years, shaving nearly 35% off home values.
Sajwani has called for a moratorium on new construction to allow the market to absorb existing supply and prevent further deterioration to values. The government was forced to set up a committee to manage supply and demand as some of the city’s largest developers continued to build and predictions of recovery since 2014 have fallen flat.
The latest project will be part of the “prestigious 55 million-square-feet community of Akoya Oxygen,” according to the Trump Organization’s website. Akoya Oxygen will also include restaurants, swimming pools, a hospital and a mosque.
This article was provided by Bloomberg News.