Trump Org set to expand India luxury realty footprint with Rs 15,000 cr projects
Trump Towers will expand in India. The Trump Organization's India partner Tribeca will develop six new projects. These projects will be in major Indian cities. The projects will cover 8 million square feet. They have a revenue potential of over R...
India already has the highest number of Trump branded projects in the world, after the US, with four such projects totalling over 3 million sq ft in the property markets of Mumbai, Pune, Gurgaon, and Kolkata. Of these, projects in Mumbai and Pune have already been delivered, while one each in Gurgaon and Kolkata are expected to be delivered in the next few months.
"We believe that a Trump presidency is fundamentally good for the world and for further strengthening the India-US relationship. Prime Minister Modi and President Trump greatly admire and respect each other, and this relationship has the potential to be greatly beneficial to the world at large," Kalpesh Mehta, founder, Tribeca, told ET while congratulating Trump for a historic win.
Tribeca is the largest developer of Trump branded properties in the world, second only to The Trump Organization.
"Trump is the only super luxury real estate brand in the world, and Tribeca has worked hard to ensure that our Trump projects in India become trophy properties. The new projects have been carefully selected over time, and we intend to push the boundaries of luxury even further with them, further solidifying Tribeca’s position as India’s leading trophy property developer," Mehta added.
India is already the New York-headquartered real estate company's largest market outside of the US. Tribeca has completed 12 years in business along with its association with The Trump Organization in India.
According to property consultants, these new projects with their estimated development and revenue potential will augur well for both the companies including Tribeca and its local partners as India real estate market is witnessing a positive momentum especially led by the luxury segment.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.