Trump Organization to Launch its First Commercial Project in India

Trump Organization has most number of properties out of North America. Now it is planning to launch its first commercial project by the end of this year. Donald Trump Jr., Executive Vice Chairman, The Trump Organization, said, “We are planning to launch a commercial real estate project this year in India.” The American real estate company is also focused on making alliances for hospitality in the country but will decide at the right time, he said. In 2016, Trump Organization had introduced its maiden commercial office project with developer IREO and private equity fund in India. The company will build the high-rise 600,000 to 700,000 sq. ft. commercial project in Golf Course Extension Road in Gurgaon. It will be developed by IREO along with a retail complex, company said when asked about the tie-up.

In the leading super-luxury development in the country, Trump Organization launched the whopping 1.25 million sq. ft. project on January 10 in Gurgaon. It marked the foray with the brand Trump Tower in Delhi-NCR region and it was India’s fourth Trump Tower. Trump Towers Delhi-NCR will be developed by Tribeca Developers, exclusive India partner of Trump, and M3M India, a real estate developer based in Delhi.

Kalpesh Mehta, Tribeca Developers founder, added, “Since the Trump Towers launched in Delhi-NCR, we have grossed worth Rs. 700 Cr of sales. It is all set to be the fastest selling Indian project. We have also achieved over Rs. 1,100 Cr of sales over the past few months in Kolkata.” With the revenue potential of over Rs. 2400 Cr, the development will have around 250 units in two towers with over Rs. 7.5 Cr of average price per unit. The construction was scheduled to start in February and it covers Rs. 1200 Cr. of total investment, excluding cost of land.

Trump said that India is going under specific regulatory changes. Hence, real estate market here is healthy and attractive for business entities and foreign investors. Trump added, “We have seen a lot of changes here over the past couple of years in a row. The country will soon open up to foreign markets.”