Russia moves North Korean missile unit into Voronezh region, Ukraine says
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Trump International Hotel & Tower, Dubai, has entered its next phase of construction following the award of its podium construction contract.
Following the Iran war, Dubai’s real estate market has recorded a significant slowdown, with a 13.6% contraction in sales in H1 compared to 2025. Still, Dubai retains its position as the world's leading luxury residential market. In the 12 months to March 2026, 581 properties sold for over $10mn, surpassing London and New York. This resilience justifies the Trump Organization’s interest in establishing its presence in Dubai.
Dar Global has awarded the contract to Gulf Asia Contracting, advancing the AED1.28bn ($350mn) Sheikh Zayed Road development into its next phase as enabling works approach completion in September 2026.
The London-listed luxury developer said that the appointment follows the successful wrap-up of all enabling works on the site, carried out by Edrafor Emirates. Gulf Asia Contracting will now take over for the podium phase, with the broader project continuing on schedule.
"This marks another important milestone as the project continues to progress according to plan and reflects our commitment to partnering with leading contractors to deliver exceptional quality throughout every stage of development," CEO Ziad El Chaar said in a company statement.
The tower is designed to rise approximately 350 metres across 80 floors on Sheikh Zayed Road, combining a five-star hotel, branded residences and a private members' club. Signature amenities include Dubai's highest outdoor swimming pool and two penthouses featuring sky pools modelled on the Trump Tower Penthouse on New York's Fifth Avenue.
The project was first announced in April 2025 as a collaboration between Dar Global and the Trump Organisation, representing the region's first Trump International Hotel and Tower. It is the fifth joint development between the two firms, following Trump Tower Jeddah in Saudi Arabia and Trump International Golf Club and Hotel in Oman.
The podium contract award signals that the project is moving beyond its preparatory phase at a time when Dubai's luxury real estate market continues to attract significant foreign capital, with branded residences on Sheikh Zayed Road among the emirate's most closely watched pipeline assets.
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