The decision by US developer Donald Trump to once again put his name on a real estate project in Dubai is a deja vu moment for the emirate amid a wave of high-profile property launches that echo the period before the real estate crash.
Back in 2008, the Trump Organisation unveiled plans for the Trump International Hotel & Tower Dubai on Palm Jumeirah, with gala events held in Los Angeles and New York. The developers bold and brash style was ideally suited to the Dubai property market, which seemed to be going nowhere but up.
But in a turn of events that mirrored Trumps own hit-and-miss career as a developer, the emirates market went bust in the wake of the global financial crisis, leaving the billionaire no choice but to cancel his project on the Palm.
Six years later, with Dubais property sector enjoying a major resurgence, Trump has returned to the emirate with a new golf community that he is planning to launch in the desert with the local Damac Properties.
Trump said he has never lost confidence in Dubai and now believes the market is much stronger thanks to tighter controls that have been implemented by the government.
But time only will tell if the emirate and the developer have learned their lessons from the past and will build projects that are sustainable for the future of Dubai.