Thursday, December 11, 2025

AGBI ARABIAN GULF BUSINESS INSIGHT: Construction starts on ($545 million) Trump International Hotel and Tower 80 Stories- High Trump Tower Dubai

Central banks across the Gulf Cooperation Council (GCC) countries have cut their key interest rates by a quarter point, following the US Federal Reserve’s move.
 
 

Construction starts on ($545 million) Trump International Hotel and Tower 80 Stories- High Trump Tower Dubai
By Pramod Kumar
Urban, Architecture, Building Dar Global
The expected completion date of Trump International Hotel and Tower in Dubai is December 2031
Construction has started on what will be the 350-metre-high Trump Tower Dubai, developer Dar Global said.
  •  The global development arm of Saudi-listed Dar Al Arkan has awarded the enabling works contract for the AED2 billion ($545 million) Trump International Hotel and Tower to Edrafor Emirates, a local contractor.

Edrafor Emirates will undertake the enabling and foundational works required to prepare the site for full construction, Dar Global said in a statement. The scope includes ground engineering, deep enabling systems and logistical mobilisation.

https://cdn.darglobal.co.uk/TTD_ext_1600_1000_aa90083c1a.webp 

https://pbs.twimg.com/media/G7z7jjnW8AAsGnO.jpg

Gulf Central Banks follow U.S. Fed in Key Rate Cuts

By Pramod Kumar
Electronics, Screen, Computer Hardware Reuters/Brendan McDermid
A trader works as a screen broadcasts a news conference by Federal Reserve chair Jerome Powell following the Fed rate announcement, on the floor of the New York Stock Exchange
  • GCC generally mirrors US central bank
  • Borrowing costs cut by 25 basis points
  • Fed earlier lowered benchmark rate
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