DALLAS-Locally based JMJ Holdings has wed Ivana Trump and a Dubai-based developer for the first condo building in a branded luxury line. The $150-million, 27-story tower is expected to break ground in a few months in Beirut's city center.
The award-winning Damac Properties has inked a deal to raise the "la Residence by Ivana Trump" flag throughout the Middle East, according to Christopher Knable, president and managing director of JMJ Hospitality, the New York City-based affiliate of JMJ Holdings that will be crafting the condo branding. "Where we go from there," Knable tells GlobeSt.com, "the sky's the limit." He says the high rise is still on the drawing board, but the preliminary plan calls for five condos per floor with views of the Mediterranean Sea in a landmark design for the Solidere district.
Knable stresses that the project and the high-powered deal with an icon like Trump are not one-offs. "We hope other people will have confidence and approach us to put together this type of relationship," he says. Trump's signature fashion and cosmetics lines have laid the groundwork for her branding. "We are looking to translate that brand into the real estate arena," he says. Meanwhile, Knable and JMJ Holdings' president and CEO Timothy Barton have started screening cities in North America for the la Residence line.
Peter Riddoch, Damac's CEO, says the development company has "a long-term plan for Lebanon and will introduce a number of highly exciting projects in the near future." The Trump development, of which the lady contributed to the design, will contain one-, two- and three-bedroom, smart-home designs commingled with restaurants and designer boutiques plus a first-class amenity roster that includes round-the-clock concierge services.
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