MUMBAI: Donald Trump’s victory in the US presidential elections has given a fillip to his India business partners, while the brand itself continues to scout for growth opportunities in India. Even as Trump got busy with the presidential elections, he continued his focus on his business, especially in India with the billionaire setting his sights on building a countrywide luxury development portfolio.
“India probably has the highest number of Trump branded real estate projects outside North America. Trump has five ongoing deals in India with a gross development value of about $1.5 billion. Sales have started on two projects and one of these projects is already delivered. Three more projects are likely to be launched in 2017 and we continue to scout for more opportunities,“ said Kalpesh Mehta, managing partner, Tribeca Developers, Trump’s India representative responsible for supporting the brand here.
Trump currently has five luxury projects including a readytwin tower 46-apartment block with Panchshil Realty in Pune and an under-construction 300 apartment project in the heart of Mumbai at Lower Parel with the Lodha Group.
According to Mehta, both the projects -in Mumbai and Pune -have performed well in terms of price premiums and sales velocity. The Mumbai project with Lodha has achieved a price premium of around 35%, while the Pune project with Panchshil has received a price premium of around 60% over neighbouring projects. Trump’s India developer partners have reaped the benefits of their alliance with the brand and are keen to work further with the organisation.
“The Trump Organization is a valued partner of the Lodha Group and we look forward to working together to create Mumbai’s finest development at Trump Tower Mumbai. With each of its branded properties, the Trump brand continues to raise the bar of superior luxurious living…the association with Trump brand continues to add value for our customers in India,“ said Abhishek Lodha, managing director, Lodha Group. In India, all Trump projects are handled by Abhijit Joshi of Veritas Legal.
“Our relationship with Trump has been positive and profitable not only for us but also for our customers. Donald Trump adds his own flair to the brand, which has just got bigger. We will be happy to launch a few more projects with the brand as the response has been fantastic for the first project, which is the first ready Trump property in India,” said Sagar Chordia, director of Panchshil Realty.
Recently, Panchshil Realty rented two apartments owned by actors Rishi Kapoor and Ranbir Kapoor in Trump’s Pune project for Rs 5.30 lakh and Rs 4 lakh per month, the highest rental achieved in Pune, he said. Earlier this year, Donald Trump Jr, Trump’s son and Trump Organization’s executive vice president, had told media that the brand has never been so strong in terms of its work and expansion plans.
“We have had tremendous success in India with two amazing projects in Pune and Mumbai and we have a very aggressive pipeline in the north and east,” Trump Jr had said. “I look forward to being back in India very soon to celebrate not only the milestones of our existing great developments but also for the announcement of several exciting new projects.”
Trump’s target cities for its future growth in India includes Mumbai, Pune, the National Capital Region, Bengaluru, Chennai, Hyderabad, Goa and other locations with good demand for super-luxury properties.
Credits ET Realty