Darvesh Group Holding, of Dubai, is to bring the “Ivana Trump” brand of buildings to the GCC ahead of plans to take the brand to India.
A mixed-use development, valued at Dh1.5 billion, will be built in Dubai with similar projects in Bahrain worth Dh1bn. Details of the location of the Dubai project have yet to be disclosed.
Ivana Trump, ex-wife of billionaire businessman Donald Trump, teamed up with Damac Properties in June 2006 for a luxury residential tower project in Beirut, Lebanon.
The $150m (Dh550m) La Residence tower will feature one- to three-bedroom apartments, duplexes and penthouses.
A year earlier, Donald Trump and Nakheel joined hands to build a tulip-shaped hotel on The Palm Jumeirah. Construction is under way on the residential and retail boulevard named the Golden Mile.
“We always wanted to get into the real estate business, but in the luxury segment. We were looking for the right partner and the right location,” said Ahsan Hassan Darvesh, director of the Darvesh Group. “The first projects will come up in Dubai and Bahrain simultaneously. We will be investing Dh2.5bn in these projects.
“We will introduce three more signature brands, with the second one being announced in the next six months.” The Ivana Trump brand will soon be rolled out across India, he said.