India's Darvesh Group to join hands with Ivana Trump

Dubai: Indian business conglomerate Darvesh Group yesterday announced it will partner New York property tycoon Ivana Trump in a Dh1.5 billion, one-of-a-kind luxury property development in Dubai.

The Le Diamond towers will be located at Dubai Waterfront. It will be a twin-tower project in the shape of a diamond. The construction is due to start in January 2009 and will take about three and a half years.

"The twin towers will mix commercial and residential, which don't exist today on an upscale market," said Ahsan Hassan Darvesh, managing director of Darvesh Group.

"It's not about the biggest, the tallest, the widest, it's about offering a niche product. It's the first concept of its kind which will be multiplied in 10 countries in premium locations, all offering luxury facilities," he said.

Speaking at the press conference, Ivana Trump said: "Dubai is like Geneva because it's a tax haven and it's a secure place. For countries around the Middle East that are in trouble, people come here to secure their residences.

"For me, I enjoy the architecture. It's such a thrill that you can do almost anything. In Europe or America, you have to go through all the bureaucracy which takes so long. Here you can throw up a building in 18 months. I love that you can fulfil your visions."

Darvesh said that they want to be "the largest branded developer in the world."

There are three other brands in the pipeline that will incorporate fashion, movie and other industries. Ivana Trump is the first brand and Le Diamond the first of ten projects Trump will build with Darvesh Group. They intend to launch 40 projects over the next five years. Le Diamond will move next to Bahrain, and then to Mumbai and Delhi.