Cape Town, South Africa
Donald Trump recently announced that his real estate company will move into South Africa in a joint venture with local businessman Neill Bernstein. The two real estate moguls will work on a variety of properties, including golfing, hotel and residential developments. They have signed a 10 year agreement, and the next few years are expected to produce a myriad of new properties for sale.
Bernstein, who
is one of the largest real estate developers in the country and owns
Devland Holdings, has indicated that there are several projects already
in the works. He recently took Donald Trump Jr., the eldest son of
Trump, on a tour of potential projects and sites in South Africa. Trump
Jr. is expected to lead the company’s venture in South Africa.
The Trump
Organization, once a mostly US oriented company, has expanded overseas
in recent years with new developments in Dubai, Panama, and Asia.
“It makes
sense for them to look at projects in Africa too,” said Bernstein. “The
organization has a great formula for success, enormous experience and
an appetite for quality developments across the leisure, golf and
residential spread. There is an opportunity for all these in our
market.”
