Trump Organizations’ India partner Tribeca plans to launch Trump projects in major cities of India, including Mumbai and Bengaluru, this year.
Tribeca also plans to launch luxury villa projects in the first quarter of 2022 in Punjab and Maharashtra.
These plans were triggered by a good traction in the luxury market and focus on work-from-home, during Covid pandemic in India.
“We will continue to aggressively ramp up our Trump portfolio in India this year as the luxury market in India has made a respectable comeback during the pandemic. We are ready to do one more Trump project in Mumbai and one each in Noida, Bengaluru and Hyderabad,” Tribeca Founder Kalpesh Mehta said.
The firm plans to launch the Trump villas in the first quarter of 2022, he added.
“The market in India has not yet seen luxury villa developments on a large scale and I think there is a market for it,” Mehta said.
The firm has a unique business model. It does not buy land for its projects. Instead, it inks joint ventures or joint development agreements, he said.
The price of these apartments would be around Rs 3 to Rs 6 crore, Mehta said.
The firm is hoping to tie up with developers who are working with it for its new launches, he said.
“Our focus this year is on launching more projects under the Trump brand and we would like to partner with some of our existing development partners for these new projects. Where a relationship is already established and is working well, it becomes easier for everyone to do additional projects,” he said.
Trump’s ventures in India include four luxury residential projects and an office tower, all carrying his name under licensing deals. Of the four, two in Pune and Mumbai are complete.
The properties in Kolkata and Delhi-NCR are under construction.
In 2013, the Trump Organization tied up with Mumbai-based Lodha Group to develop the Trump Tower in Mumbai.
A year later, Donald Trump visited Pune to inaugurate the first of the Trump Towers in India.
Trump properties in India have reportedly generated around Rs 3,500 crore in a real estate market that is estimated to be worth around Rs 12.7 lakh crore.
The last project launched by Trump was in Delhi-NCR market in February 2018, though the deal was inked before 2016.
The Trump brand made inroads in the north Indian real estate market through a project being developed by Tribeca and M3M India.
Tribeca and M3M are building 250 ultra-luxury residences in Gurugram under a brand licence from The Trump Organization. The project is also expected to have a 35,000 sq ft area for amenities. These apartments are priced between Rs 5 crore and Rs 10 crore.