SG Trump makes landfall in India
Property Here - Friday, April 12, 2013
In an effort to expand its footprint in India, US-based property firm Trump Organisation is in talks with real estate developers in Mumbai and the National Capital Region (NCR) for two Trump-branded housing projects.
“This is the first of its kind tie-up Trump has ever done. This signals how important (the) Indian market is for Trump. India would be (one of) the top three markets outside of North America for Trump in the next three to five years,” said Kalpesh Mehta, Managing Partner at Tribeca Developers.
Trump has since appointed Mumbai-based Tribeca as its exclusive representative in the country, identifying projects in India that can be developed under the Trump brand.
Specifically, Tribeca will bolster Trump’s efforts in picking sites and local developers for various Trump-branded projects such as hotels, luxury residences, golf courses and mixed-use developments.
“We are in (an) advance stage of discussions with developers in NCR and Mumbai who are keen to develop Trump branded properties. We hope to close two projects in these two markets in the next six to 12 months,” noted Mehta, adding that the two projects will be residential-based.
Aside from Mumbai and the NCR, other areas under Trump’s radar include Pune, Chennai, Bangalore and Hyderabad. The company is also looking at Goa and other areas where there is healthy demand for super-posh properties.
In particular, Tribeca is on the lookout for companies that have built high-end properties before, but wants to try for something more ultra-luxurious. Trump would also monitor the progress of these projects to ensure quality and support the chosen firms in terms of sales and marketing.
Notably, Trump last year unveiled its super-luxury project in Pune. Developed by Panchshil Realty, ‘Trump Towers Pune’ marks the company’s maiden venture in India.
Trump Organisation is involved in real estate management, global licensing and property development. Other major operations include entertainment, product licensing, brand development, sales and marketing, golf course development, restaurants as well as event planning.
Romesh Navaratnarajah, Senior Editor of PropertyGuru, wrote this story. To contact him about this or other stories email firstname.lastname@example.org