Industry Update
Press Release23 June 2008

The Trump Organization and Nakheel Sell Most Expensive Penthouse in Dubai

Donald J. Trump Reserves a Residence at Palm Jumeirah Centerpiece

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NEW YORK | Nakheel and the Trump Organization, two of the world's leading developers, are set to break property records in Dubai after receiving bids for an exclusive penthouse in Trump International Hotel & Tower on Palm Jumeirah.

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Trump International Hotel & Tower, one of the most anticipated new builds in Dubai and Donald J. Trump's first in the region, will provide Trump's renowned highest level of luxury, impeccable service and exclusive amenities in a building that is poised to become a stunning landmark on the skyline of Dubai. In addition to a range of phenomenal one to four bedroom units, the Tower will feature the most coveted and expensive penthouse in Dubai. Donald J. Trump has already reserved an apartment in the Tower, while pre-sales of some properties have sold for as much as $3000USD per square foot, with the average price per square foot selling for $2450USD. Public sales of the exclusive residences begin today, June 23, 2008.

Donald J. Trump, CEO of the Trump Organization, said:

"I have created some of the world's most spectacular buildings and hotels, but my project with Nakheel will be one of the most impressive undertakings I have ever been a part of. Palm Jumeirah is on course to becoming one of the world's premier tourist destinations and the perfect location for my first venture in the Middle East. I'm thrilled with the early sales of the residences and I plan to reserve a property in the Tower for myself. I can assure you that the hotel will be a destination in itself, providing a stunning centerpiece to the skyline of Dubai."

Sultan Ahmed bin Sulayem, Nakheel Executive Chairman, said:

"Nakheel is best known for creating larger than life developments such as the Palm islands and The World and Donald J. Trump is synonymous with luxury and glamour. Both companies are famous for making the impossible possible. Working as one, Nakheel and Trump, together, will bring a breathtaking and awe-inspiring structure to Palm Jumeirah and once again set the standard for big ideas and ultimate luxury. It's no surprise that with such an incredible and sought-after project we have broken sales records in Dubai which is testament to the exclusive product we are delivering to buyers."

A masterpiece of architecture, the 62-story, stainless steel and glass Trump International Hotel & Tower will be the tallest structure on Palm Jumeirah and is expected to be completed in summer 2011. The property will be comprised of two freestanding towers that straddle the center line of Palm Jumeirah, making it the gateway to the heart of the development. The towers stand on a four-story bisected podium structure converging at the 40th-floor to create the building's glazed diamond shaped pinnacle. This distinctive design will offer residents and guests unobstructed panoramic views of the Arabian Gulf and beyond.

A highlight of the spectacular Trump International Hotel & Tower will be the two expansive penthouse residences designed by one of Architectural Digests Top 100 interior designers, Kelly Hoppen. Hoppen is best known for introducing the "East Meets West" philosophy to interior design, which has remained her signature over the years. The classic Kelly Hoppen look is defined by using straight lines, symmetry and a neutral and subtle color palette to create balance within the home.

Trump International Hotel & Tower will offer an extraordinary opportunity for sophisticated buyers. Located just steps away from five-star marinas, hotels, the Atlantis resort, and Cirque du Soleil, the 399 residences and townhouses will be offered in three categories: the Platinum Collection, the Titanium Collection, and the Pinnacle collection. Units will range from 890 to 7,500 square feet with options in one, two, three and four bedrooms.

Additional Information

Interiors, designed by internationally renowned design firm BBG - BBGM, will set the standard in luxury. Norman Foster bathtubs surrounded by white crystallized glass tiles, Boffi kitchens and Gaggenau appliances are just a few of the high-end details within the residences. A Soundcreation package will be available with each residential purchase. This system provides owners with complete home automation, an awe-inspiring home cinema, multi-room audio, and spectacular custom lighting. Using the apartments fully integrated systems residents can create their own intimate ambience.

For those wishing to purchase a furnished unit in the Platinum and Titanium residences, Trump International Hotel & Tower will offer three distinct style collections by high-end Italian furniture designer Poltrona Frau. Each furniture collection embodies the perfect marriage of ageless beauty, modern styling and 21st century ergonomics. Poltrona Frau furniture is found in ocean liners, palaces, embassies, luxury hotels and private homes around the world.

The Tower's 399 freehold residential apartments and 378-room hotel will offer a host of luxury amenities to guests and residents alike, including a five star restaurant, a signature spa, beach club, business center, super- yacht marina, fitness center, and 50,000 square feet of luxury retail space.

A three-story Beach Club will be available exclusively to Trump International Hotel & Tower residents and guests. This sophisticated private club will feature multiple sports, leisure and entertainment facilities, and will be conveniently accessed via pedestrian walkways and golf carts linked directly to the Hotel & Tower. The ground floor will feature an indoor/outdoor infinity pool and leisure deck overlooking the gulf and northeastern crescent of the Palm. Food and beverage service will be offered throughout the day. The Beach Club's top floor will be a 5400 square foot indoor/outdoor club highlighted by modern design elements in a style that transitions from comfortable and relaxed during the day to hip, sophisticated and vibrant at night. The Beach Club will also feature a fully equipped fitness center with a range of activities for staying healthy including Yoga, Pilates, boxing and wall climbing, as well as a health café and juice bar. For sea-faring guests and residents, Trump International Hotel & Tower will be home to a super-yacht marina located directly adjacent to the Beach Club offering 70 slips with provisions for 30-150 meter vessels.

Residents will enjoy a comprehensive array of services designed to create an ownership experience that is lavish and exceptional. This experience will be realized through the award winning Trump Touch Concierge Service offered 24 hours a day, 365 days a year: residents will be able to avail themselves of the buildings own Attache services, private trainers, private nutritionists, personal shoppers, babysitting services, Nakheel Letting Services and many more.


About Nakheel:

Nakheel is one of the world's largest privately held real estate developers, and a key player in realizing the vision of Dubai for the 21st century: creating a world class destination for living, business and tourism.

Nakheel is developing an iconic portfolio of innovative landmark projects in Dubai, and now in key markets around the globe, across a range of sectors - residential, commercial, hotels, retail and leisure. Nakheel's projects are conservatively estimated to be worth US$80 billion. Upon completion Nakheel's waterfront projects will have added more than 1000km of shoreline to Dubai's coastline.

Nakheel's Dubai portfolio currently includes Palm Jumeirah, Palm Jebel Ali, Palm Deira, The World, Waterfront, The Universe, Jumeirah Islands, Jumeirah Village, Jumeirah Park, Jumeirah Heights, The Gardens, Discovery Gardens, Ibn Battuta Mall, Al Furjan, International City, and Dragon Mart.

Nakheel is a key entity within Dubai World, one of the world's largest holding companies that supervises a portfolio of businesses and projects for the Dubai government across five continents and more than 100 countries.

About The Trump Organization:
The Trump Organization is a global leader in real estate development, sales and marketing, and property management representing the highest level of excellence and luxury in residential, commercial, hotel and golf properties. With over 70 projects current and upcoming, The Trump Organization is responsible for many of the world's most recognized developments, and is renowned for commanding a sizeable premium on saleable real estate relative to the markets that it enters.

The Trump Hotel Collection, a division of The Trump Organization, has 11 hotels in development representing the next generation of luxury hospitality - one that promises to raise the bar on top-end travel experience with a style of customized service that is unmatched. The newly opened Trump International Hotel & Tower Chicago was named Conde Nast Traveler's "Hottest New Hotel in North America", and its sister hotel in Las Vegas has also received rave reviews.

Highlighted properties in The Trump Organization portfolio include Trump Tower, Trump International Hotel & Tower New York, Trump Park Avenue, Trump Ocean Club International Hotel & Tower Panama, and Trump National Golf Club Bedminster, New Jersey. In addition, exciting upcoming properties include Trump SoHo Hotel Condominium New York, Trump International Hotel & Tower Waikiki, Trump International Hotel & Tower Toronto, Trump Towers Philadelphia, Trump Towers Istanbul Sisli, Trump Ocean Resort Baja Mexico, Trump at Cap Cana, Trump International Golf Club Puerto Rico, and Trump International Golf Links Scotland.

Donald J. Trump is the Chairman and President of the Trump Organization, the privately held company in New York. His children, Donald J. Trump, jr. Ivanka Trump and Eric Trump, all Vice Presidents of the organization, work together diligently with Mr. Trump to manage and grow this global brand. ()

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