Damac teams up with Ivana Trump for ‘La Residence’ tower

It’s one of the most unlikely pairings you are ever likely to see. But against the odds, Real estate developer Damac Properties and flamboyant real estate mogul Donald Trump’s ex-wife Ivana Trump are pouring millions into a massive joint development. Ivana Trump is following Donald Trump’s footsteps and has collaborated with real estate developer Damac Properties in Dubai for a luxury residential tower project planned for Lebanon’s capital Beirut. The $150 million La Residence tower will be built at the intersection of Omar Daouk and Fakhreddine streets in Beirut’s downtown area with a three year construction period set to start in 2007. Interior design work on the 27-storey tower’s one to three bedroom apartments, duplexes and penthouses will be influenced by Ivana Trump, the former vice-president of interior design for the Trump Organization.

“We are honored to be endorsed by Ivana Trump, a world-renowned celebrity who is considered a symbol of style, glamour and class,” said Peter Riddoch, CEO of Damac. Ivana Trump is the latest globally recognized luxury brand – including the Four Seasons, the Hyatt, the Hilton, and Phillipe Starck – to partner with GCC nationals for a franchise deal. Damac officials admitted apartments in the La Residence tower will not be cheap, due to Beirut’s surging land prices, and are targeted at mid- and high-income end users.

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