New Delhi: Apart from diplomatic relations, what is another interesting connection that India has with US President elect Donald Trump? It boasts of the highest number of Trump Towers, high rises associated with the Trump brand name, outside the US. In India, Trump Organisation has licensed Tribeca Developers to use the brand name.
Upcoming projects in India reportedly include office complexes, golf courses and villas. This will take the total count of properties under the Trump brand to 10 in India, according to the report.
Which cities in India will have Trump Towers?
Tribeca Developers has inked agreements for the construction of Trump Towers in 6 cities, namely: The total project area stood at 8 million square ft with an estimated sale value of Rs 15,000 crore. While Pune, Mumbai and Gurugram already house Trump Towers, Noida, Bengaluru and Hyderabad are new markets for the brand, the HT reported, citing Tribeca Developers founder Kalpesh Mehta. The repeat projects in Mumbai, Pune and Gurugram will be called Trump World Towers.
What is Trump Towers?
Trump Towers is an ultra-luxury real estate brand popularised by Donald Trump. Units in Trump Towers are purchased by high net worth individuals as well as Bollywood stars apart from non-resident Indians. Currently, the organisation is helmed by President-elect Trump’s sons Donald Trump Jr and Eric Trump, who are expected to visit India some time next year, said Mehta.
In a typical partnership, Trump Towers brings their brand name and software to the project while the local partner investors in the actual infrastructure, the TOI reported.
Pune is set to receive a large office development project as part of the plan. Some of the real estate companies involved in the construction of Trump Towers include Lodha Group in Mumbai, the Panchsil Realty Group in Pune, the M3M Group in Gurugram, and the Unimark Group in Kolkata.
Donald Trump’s second US presidential win has shed the spotlight on India for having a record number of Trump Towers. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
