IPJ Report

A daily feed of news and analysis on the international property business.

 

Kevin Brass
Author: Kevin Brass is editor of the International Property Journal. For the past decade he's covered the quirks and trends of the global property industry for the International Herald Tribune and the New York Times.
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In an interview with CityscapeConnect, Donald Trump, Jr., the executive v.p. of development and acquisition for his father’s company, wanted to make it clear he’s “not necessarily the spoiled brat that many people would love to envision me as.”

 

Once he cleared that up, Heir Trump focused on business and he wasn’t painting the same rosy pictures favored by his perpetually cheerleading father.

 

For buyers, his negotiating advice was to make an offer. “You don’t get anything you don’t ask for,” Trump, Jr. said. “Try for it, you’ll probably get it.”

 

Trump urged developers to grasp a better understanding of the reality of the market. “The days of thinking you’re going to sell average building sell outs at $3,000-plus a square foot anywhere is over,” he said. “It doesn’t exist anymore.”

 

Developers need to stop “trying to squeeze blood out of a rock” and make deals, he said. “It’s more important to make deals and create velocity.”

 

In Dubai and other emerging markets, the Trump Organization is likely stick to licensing its name to projects “for the time being,” rather than invest capital, he said--even though the licensing strategies has led to several embarrassing legal actions on projects sporting the Trump name.

 

“We don’t have the ultimate grasp of the political risks, development risks in this market or frankly in many of the other emerging markets that we do in America or our own backyard,” Trump, Jr. said.

 


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Comments  

 
0 # 2009-11-23 22:06
The Trumps cost investors millions in losses in Baja and Las Vegas, to name only two of many disasters.
I cant believe anybody would invest with them with their terrible record of losing investors money.
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0 # 2009-12-01 18:35
just wait till no one get a loan lets see how many are for sale?
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