Business

Tribeca plans 6 more Trump realty projects in India

Donald Trump Jr. with Kalpesh Mehta

Donald Trump Jr. with Kalpesh Mehta | Photo Credit: By arrangement

Tribeca Developers, the exclusive rights holder of the Trump Organization in India, said it is planning to ramp up construction of Trump Towers in India.

The firm is planning to add 5 to 6 more such luxury skyscrapers in various Indian cities before 2024, when former U.S. President Donald Trump may yet again venture a run for the White House.

Currently located in Pune, Mumbai, Gurgaon and Kolkata, Trump projects have now been planned in three cities in South India and three in western India. “In the last 12 years, we have made India the largest market for Trump branded products, second only to North America. Tribeca is the largest developer of Trump projects after Trump Organization. It’s a very strong partnership for us. The market in India has appreciated the Trump brand. We have done well with it,” said Kalpesh Mehta, founder, Tribeca Developers.

Across Trump projects in India, about 600 super-luxury homes have been sold with a total combined revenue of about ₹5,000-6,000 crore, he said.

The company now plans to add more Trump-branded homes before 2024 as it will have to stop licensing the Trump brand in case Mr Trump once again runs for the President’s post that year.

In between 2016 and 2020 when he was in office, Tribeca could not start any new Trump [projects] in India as per norms.

The company is now planning to do at least 5 to 6 more Trumps [projects] as it wants to ramp up the brand’s presence in the country.

Mr Mehta said his company was looking at new cities such as Bengaluru, Hyderabad, Chennai, Goa, Ahmedabad and Surat. “Over and above typical Trump Towers we are also introducing Trump Farms and Trump Villas. So, large farm houses and gulf villa communities is something that we are introducing now,” he added.

According to people familiar with the company, the brand value of Trump Homes has increased after Mr. Trump became president in 2016. There has been an increase in sales volume and pricing as well, the people said.

Tribaca has also tied up with YOO Worldwide to construct YOO branded homes in Pune for a project called YOO One.


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Printable version | Jun 30, 2022 1:35:37 pm | https://www.thehindu.com/business/tribaca-plans-6-more-trump-projects-in-india/article65583257.ece