Nakheel and the Trump Organisation say they will set to break property records in Dubai after receiving bids for an exclusive penthouse in Trump International Hotel & Tower on Palm Jumeirah.

Pre-sales of some properties within the tower have sold for $3,000 per square foot, with the average price hovering around $2,450.

Trump Organisation CEP Donald Trump said the tower is one of the most impressive undertakings he has been a part of.

“Palm Jumeirah is on course to becoming one of the world’s premier tourist destinations and the perfect location for my first venture in the Middle East.

“I’m thrilled with the early sales of the residences and I plan to reserve a property in the Tower for myself. I can assure you that the hotel will be a destination in itself, providing a stunning centrepiece to the skyline of Dubai,” he said.

The 62-storey tower is expected to be completed in summer 2011.

The property will be comprised of two freestanding towers that straddle the center line of Palm Jumeirah, making it the gateway to the heart of the development.

By Elizabeth Clifford-Marsh