nav
\"Trump

Trump snagged Doonbeg for $8 million less than reported. Photo by: Thinkstock

Donald Trump snapped up Irish golf course for just $11.4 million

\"Trump

Trump snagged Doonbeg for $8 million less than reported. Photo by: Thinkstock

The receivers report on the sale of Doonbeg golf resort, in County Clare, shows that Donald Trump paid $11.4 million (€8.7m).

Previously it was believed that the US billionaire had paid $19.7 million (€15m) for the luxury resort now under the name Trump International Golf Links & Hotel.

The figures were filed in a report by the property’s receivers, David Hughes and Luke Charleton of accounting firm Ernst & Young.

The property, which includes a five-star hotel lodge, seven unsold suites and the Greg Norman-designed golf course, had been developed at an initial cost of $36.9 million, when it opened in 2002.

Trump did not purchase the entire property. Several luxury suites had been sold to investors and leased back to the hotel. Close to 47 suites were sold to investors for between $1.2 and $2.3 million.

The US billionaire had pledged to invest $59 million (€45m) in Doonbeg and create hundreds of jobs.

It’s suspected that this promise prompted the very strange greeting Trump received at Shannon Airport in May of this year when the red carpet, literally, was rolled out for the major investor, while musicians in traditional garb trumpeted his arrival. Ireland’s Minister for Finance Michael Noonan, the second most powerful man in the government, was even there to shake his hand.

At the time many people in media branded the Irish welcome as “pathetic.” However, others defended it as Trump has promised to create hundreds of jobs at the resort saying he hopes to eventually “double or triple” his investment.

COMMENTS