(Agency) New Delhi, Former American President Donald Trump’s company is preparing an investment plan in the Indian real estate sector. Under it, the real estate company The Trump Organization will start 3 to 5 expensive residential projects in India next year. These real estate assets will be presented in Bangalore, Hyderabad, Chandigarh and Ludhiana.
According to the report, the Trump Organization has an exclusive licensing agreement with Kalpesh Mehta-run Delhi-based Tribeca Developers for the past 10 years. Mehta said during an event that Tribeca will invest around Rs 2,500 crore in the proposed three to five Trump-branded projects. Vice President of The Trump Organization at the event
Donald Trump Jr. was also present. Kalpesh Mehta continued talking about the announcement and said that, we are going to invest about 5000 crore rupees in the next 12 months.. 7 to 8 projects will be signed under it. He said that half of this investment or Rs 2500 crore will be in Trump branded schemes, for which we are also going to new cities. Bangalore and Hyderabad, Mumbai, Pune and Delhi stations are also in the list.
They are also in discussions with developers in Chandigarh and Ludhiana for Trump projects, said Zirin Harshvardhan of Tribeca Group. India already has four Trump-branded properties, making India the largest market for the Trump Organization outside the US. These four properties represent 2.6 million square feet of salable area. It has been developed in collaboration with Pune-based Panchsheel Builders.
At the event, Trump Jr. said, “We are very satisfied with our decade-long relationship with Kalpesh Mehta and are happy to extend it. “In the meantime, we have developed Tribeca’s development capabilities to a level that rivals the best global luxury developers so far,” he said. He has made India the biggest market for our brand outside our home market in such a short span of time.