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.
