Trump Ocean Club Panama Targets Middle East Clients

Trump Ocean Club Panama Targets Middle East Clients

Residential News » Residential Real Estate Edition | By Alma Kadragic | November 19, 2008 12:33 AM ET

(DUBAI, UAE) - For those interested in buying real estate, Dubai is a year round shopping festival, and what's on offer is around the world as well as in the Middle East. At the recent Worldwide Property Show, agents showed off Donald Trump's Ocean Club in Panama City to top level potential buyers.

The Trump Ocean Club doesn't exist yet; it has been under construction since May 2007 and will be a spectacular building somewhat reminiscent of the Burj Al Arab Hotel in Dubai when complete in 2010 with a sail-like ondulating shape. The magic of the Trump name has already sold many of the residential units.

The Club is based in a 70-story tower with everything needed for work and play, including hotel condominiums, restaurants, shops, spa, business center, and, as is often the case with Trump properties, a casino. The project is estimated at $400 million and according to the website has the financing needed to complete.

In Dubai apartments at the Trump Ocean Club were being marketed for 30 percent down and 70 percent on completion. Condos from studio to 3-bedrooms in size range from under $400 thousand to under $1 million.

Panama is an up and coming travel and vacation destination with the Latin charm and big city feel of Miami as well as older neighborhoods that reflect the architecture of previous centuries.

Americans and Europeans have discovered Panama where prices are still considerably cheaper than in their home countries. International brokers are betting that Middle East buyers will be the next to discover Panama.

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