Not withstanding the controversy surrounding the proposed Trump Tower in south Mumbai, Donald Trump Jr., American real estate magnet Donald Trump's 34-year-old son, has said that their company rates India above other emerging economies as an investment destination.
The flamboyantk Trump Sr. is building luxury homes and hotels under his brand in key markets across the world and has targeted India since the economy is growing and will produce more billionaires. Trump, whose portfolio includes projects in South Korea and Turkey, in addition to hotels and skyscrapers in the US, is close to signing a couple of deals with Indian developers, Trump Jr. said without providing details.
"India, among other emerging markets, is the biggest push for our organisation," Trump Jr., the executive vice-president of The Trump Organization, said on the sidelines of an international hospitality conference on Wednesday. He was in Mumbai to address a conference called HICSA 12, organised by HVS India.
He said their real estate group, named after Donald Trump, is looking at developing several residential and hotel projects in India in the coming five years. He added that talks are on with several Indian developers but did not reveal any names.
"Equity investment will depend on individual projects and partnerships but first we would like to form relationships which allow us to understand the processes and spectrum better."
The American real estate tycoon said that his company would look at cities like Mumbai, Delhi, Bangalore and Goa to first set up base and then to expand presence here. "The Indian market is starved of a good luxury product and needs a brand like ours," he said.
In 2011, the Donald Trump Organization had entered India with a joint venture with Mumbai-based Rohan Lifescapes to construct the 45-storey luxury residential skyscraper Trump.
Courtesy: Mail Today