Half-a-dozen Trump Towers are set to come up in India

The Trump Organisation, founded and owned by the former US President Donald Trump, is planning to launch nearly half a dozen ultra-luxury properties in India. The group is in talks with Gurgaon-headquartered Tribeca Developers and are expected to initiate construction of at least two of these Trump properties within 2023.

Donald Trump Junior, executive vice president of the Trump Organisation and son of the flamboyant US President, met Tribeca founder Kalpesh Mehta. “I am very bullish about the India market. It is already the largest market for us outside of the US,” Trump Junior told Business Today.

Mehta, who has been associated with Trump Junior for nearly a decade and has been instrumental in bringing the Trump Towers to India, said nearly five Trump projects are in the pipeline and are likely to be launched within the next year. Together, these properties would add Rs 2,500 crore worth of inventory into the ultra-luxury market.

“Up to six new deals [under the Trump brand] are in the works. We plan to launch 3-5 of them within the next 12 months - starting mid-2023,” said Mehta. Two of the previous Trump Towers - in Pune and Delhi-NCR - were developed by Tribeca.

Among the upcoming Trump projects, apart from ultra-luxury residential apartments - the two entities are also exploring commercial real estate projects. At least one of them - planned in Pune - will be launched next year. Additionally, the Trump projects are expected to come up in markets like Hyderabad, Bangalore, Ludhiana & Chandigarh.

According to Trump Junior, Trump Organisation’s association with Tribeca has so far been a fruitful partnership as real estate development remains a domain of the local players. “Tribeca, under Kalpesh, have been helpful in materialising the previous projects,” he said adding that Trump Organisation plans to stick to its partner for future launches too. The company, unlike in the US, does not directly invest in these projects. In India, Tribeca is responsible for delivering the Trump brand properties, while Trump Organisation offers its expertise and ensures the quality.

Out of the four Trump Towers, two have already been completed. The 0.56 million square-feet Trump Tower in Mumbai and 0.27 million sq.ft. tower in Pune is being sold out. While Trump Tower in Kolkata (0.41 million sq.ft.) and in Delhi-NCR (1.2 million sq.ft.) are under construction.

Apart from Trump projects, Tribeca also plans to launch multiple   luxury projects worth Rs 2,500 crore in 2023 in markets like Mumbai, Pune and Delhi-NCR.

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