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Darvesh Group partners with Ivana Trump for Le Diamond
The Darvesh Group, an international business conglomerate, will be undertaking 40 real estate developments over the next five years at a total cost of $6 billion, the groups managing director, Ahsan Hassan Darvesh, said in Dubai yesterday.
He was speaking at a Press conference to announce a joint property venture with Ivana Trump to launch a branded property concept called Le Diamond. The branding will feature in properties across the Middle East and India.
Under the partnership, Darvesh Group will construct premium residential and commercial twin towers designed by Ivana Trump. The first two Le Diamond Ivana Trump projects will be constructed in Dubai and Bahrain. Construction will commence in early 2009 and will take about three years to complete. The Dubai tower will be located at the Waterfront, Nakheel’s mega-city development and will cost Dh1.5 billion, Darvesh said. The Ivana Trump venture is the first project in Darvesh Group’s strategy to create branded development themed projects through partnerships with well-known personalities from the business, fashion and movie industry.
Commenting on the announcement Darvesh said: “We plan to have four different branded developments, Ivana Trump is the first brand that Darvesh Group has signed up. Under each brand, we’ll develop 10 properties in different cities. Each property, regardless of its location, will offer the same premium living and working experience in prime locations”.
Ivana Trump said: “I feel the partnership with Darvesh Group is the right fit. I feel they have the right business acumen, experience and plans to make this project a great success. Their reputation and long standing credibility, combined with their passion for diversification is what drew me into the partnership.”
She also commented that her commitment to Damac in Lebanon, where was designing “La Residence” in downtown Beirut, had come to an end.
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