- A property firm owned by DAMAC International has awarded a £250 million ($US320 million) contract to developers to build a 50-storey skyscraper in London.
- DAMAC chairman Hussain Sajwani is a close business associate of Donald Trump.
- The interiors of the building will be “Versace-branded.”
LONDON — A property firm run by a business partner of US President Donald Trump has awarded a £250 million ($US320 million) contract to developers for the construction of a “Versace-branded” skyscraper in London.
Nine Elms Property awarded the contract to developers Multiplex for the construction of AYKON London One, a fifty-storey tower to be built in central London at Nine Elms on the South Bank.
Nine Elms Property is a wholly-owned subsidiary of real estate developer DAMAC International, which is owned by Dubai-based developer Hussain Sajwani.
Sajwani is a close associate of Trump, and was frequently seen at the president’s side during his recent trips to Croatia and Malta. DAMAC also partnered with the Trump Organisation to develop the Trump International Golf Club in Dubai.
“The world’s first Versace-branded tower”
AYKON London One is valued at £590 million and is scheduled for completion in 2020. Forty-five per cent of the apartments are currently pre-sold, according to an emailed statement.
The tower forms part of the multi-billion pound regeneration scheme on the River Thames that also includes the construction of luxury apartments in Battersea Power Station and a new US embassy.
It will consist of 450 apartments from one to three bedrooms, and its interiors will be designed in partnership with luxury fashion house Versace. Each apartment will feature a “winter garden” which developers say will offer panoramic views of the city.
In addition to residential units, the building will contain just under 10,000 square feet of communal gardens, four storeys of office space, and a”sky bridge” between the two towers.
Sajwani said in a statement that the project will be the “first of its kind” in London.
“The project continues to garner interest from investors who appreciate such a niche investment opportunity and seek premium branded real estate in one of the most desirable cities in the world,” he said.