Mumbai:
Tribeca Developers, the Trump Organisation’s property development partner in India, on Wednesday launched the first Trump-branded commercial real estate project in the country targeting sales of over $289 million.
India has become the Trump brand’s largest real estate market outside of the US over the last decade, where Tribeca has helped to develop residential projects in four Indian cities under licensing agreements with other local developers.
The office project named “Trump World Center” will be developed in collaboration with real estate company Kundan Spaces in the western Indian city of Pune, where several large global and local IT firms have set up offices over the last decade.
The project is scheduled for completion in about four years, Kalpesh Mehta, founder of Tribeca Developers, told Reuters in an interview in Mumbai.
Mehta said that his company will also be launching three-to-four more Trump-branded luxury residential projects across northern and southern India over the next 4 to 6 weeks.
He forecasts the combined sales potential from the office project launched on Wednesday and upcoming residential projects at $1.15 billion.
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