News

Donald Trumps' move into the Dubai real estate market signals heightened demand for the AV installation industry (26/10/2005)

Yet another high point in the impressive recent history of Dubai's booming real estate business has been announced, with the Trump Organisation unveiling its plans for a landmark hotel on the Palm Jumeirah.

The American real estate and gambling mogul, Donald Trump has teamed up with local property developers Nakeel LLC to build a tulip-shaped hotel on the man-made island off Dubai's Jumeirah coastline.

The largest privately held company in New York, the Trump Organisation is one of the world's leading real estate developers, with an estimated revenue of US$10.4 billion in 2004 and 22,000 employees. Donald Trump, the company's Chairman and President, is recognised as one of the world's most successful businessmen and real estate developers. The Trump Organisation already has an extensive portfolio of properties including the renowned Fifth Avenue skyscraper, Trump Tower, luxury residential buildings Trump Palace and The Trump International Hotel and Tower in New York.

This is the first time that the company has invested in real estate development anywhere in the Middle East and illustrates the current high level of confidence in both Dubai and Nakheel's developments. The existing residential components on The Palm, Jumeirah, including hotels, condominiums, villas and townhouses, have already sold out and the planned Trump properties will offer additional opportunities for investment in the region's fastest growing tourist destination, with the number of tourists in Dubai doubling between 1999 and 2004 to reach 5.4 million.

As the United Arab Emirates conducts its latest population census, figures are expected to meet the 5 million mark, twenty times more than the figure for 1971. The number of buildings in Dubai has increased to 79,214, a 42.3% increase on 2000. These figures alone, even without the recent Trump addition, show there is a massive market for companies offering all kinds of lifestyle and interior products from world class furnishings and interiors to the latest in cutting edge audio and visual installation technology.

One local company making the most of this boom is Al Bishara International, a specialist supplier of the latest in audio/visual systems. Sales Manager Samar Singh Bhal commented that "due to low import duties and the ability to obtain supplies direct from manufacturers, prices have been kept substantially lower than in other markets in the region and there is a wealth of home entertainment and audio visual systems now available in the market place."

Al Bishara International exhibited at PALME 2005 and will be taking a larger stand at the show in 2006. "The key benefits we saw at Palme 2005 were the high number of trade enquiries from all sectors, the increase in brand awareness, technological updates and competitor information. After the show, business was very good, based on feedback received during the exhibition and even to date, we are still maximising on the impact of this show" Mr Singh commented. "On our 2006 stand we will have more space to display the latest products to various traders from across the globe".

Al Bishara is the sole UAE and GCC distributor for Klipsch RVX speakers, which have been newly introduced into the market. These will be showcased on their stand at Install along with a new ipod docking station with digital amplifer.

INSTALL @ PALME 2006, organised by IIR Exhibitions Middle East, is the dedicated business arena for the AV installation industry at PALME 2006. It provides a focal point for installers, specifiers and architects to meet manufacturers and suppliers of residential and commercial installation and integration products. "The fact that this event is now just about sold out, despite an increase in the amount of available floor space, is testimony to the huge growth in home networking and home control applications, and we are committed to providing the best arena in which to showcase these products and services. We look forward to a highly successful and productive event for all concerned," said Darren Brechin, Exhibitions Director - Entertainment & Installation Technology Group, IIR Exhibitions Worldwide.

Install is part of PALME, the Middle East's premier professional sound, light, music, audio visual and systems integration exhibition, which takes place at Dubai International Exhibition Centre from April 23-25, 2006.

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