Realty firm M3M India will develop US President Donald Trump-owned The Trump Organization's twin 'Trump Towers' in Gurgaon comprising 180 ultra-luxury homes each with a price tag of Rs 10 crore. Donald John Trump Jr is likely to visit India by November-end, when the project is to be launched. It is likely to be finished in five years, according to a brand licence agreement between the two.
The agreement for the buildings, planned at Golf Course Extension road as the tallest in central Gurgaon, was signed before Donald Trump became the president of America, company director Pankaj Bansal said on Friday.
The Gurgaon-based developer said the project will also have a golf course. While Bansal did not disclose the land size earmarked for this project and total investment for development of the twin towers, he said renowned architects and construction companies will be engaged to develop this project.
In India, Trump Organization --founded by US President Donald Trump -- has developed a luxury project in Pune partnering Panchshil Realty. It tied up with Lodha group in 2014 for housing project in Mumbai. We have signed a brand license agreement with Trump Organization for Trump branded twin towers in Gurgaon, Bansal told reporters here on Friday.
M3M India has a land bank of 2,200 acres in and around Gurgaon. It had bought 185 acres in Gurgaon for Rs 1,211 crore from Sahara group. The Lodha group is developing 75-storey, 800-feet Trump Towers, on a sprawling 17.5-acre plot, at Worli in Mumbai. Last year, Trump Organization tied up real estate private equity firm IREO to develop an office tower in Gurgaon. Trump Organization had earlier appointed Mumbai-based Tribeca Developers as exclusive India representative to identify projects in the country that can be developed under its brand.
Copyright©2021 Living Media India Limited. For reprint rights: Syndications Today