Win set to boost Turmp’s investments in India

Updated on Nov 11, 2016 01:17 PM IST

With Donald Trump winning the US presidential election, Trump Organisation’s India investments are likely to become more valuable. Trump Organisation has interests in real estate development, property management and brokerage, among others. It is currently linked with five projects in India.

Donald Trump at a rally in Mississippi.(AFP)
Donald Trump at a rally in Mississippi.(AFP)
Hindustan Times | By, New Delhi

With Donald Trump winning the US presidential election, Trump Organisation’s India investments are likely to become more valuable. Trump Organisation has interests in real estate development, property management and brokerage, among others. It is currently linked with five projects in India.

Trump first entered the Indian market in 2011 with an agreement with Rohan Lifescapes for high-end luxury project in south Mumbai. But the deal fell through.

Later, the company partnered the Lodha Group and Panchshil Realty to build Trump Towers, high-end luxury residential projects, in Mumbai and Pune. The price premiums of these towers are already 35% and 60% compared to adjacent properties. A single apartment in these towers cost up to 25 crore.

While the Pune project with Panchshil Realty has been completed, the Mumbai project will be ready by 2018-19.

“India probably has the highest number of Trump’s real estate projects outside North America. Trump has five ongoing deals in India with a gross development value of about $1.5 billion. One project is finished and sales for two have begun,” said Kalpesh Mehta, founder and managing partner of Tribeca, a Mumbai-based developer and the exclusive India representative for Trump Organisation. “Three more projects are likely to be launched in 2017. Demand for the Trump brand in India remains strong.”

“It is a bit early to make any prediction on the full impact of Trump’s victory in the US presidential election on Indian real estate. The country’s real estate sector does depend a lot on the commercial demand generated by this sector. Likewise, the entire IT/ITeS sector has had a direct correlation to residential demand,” said Anuj Puri, country head at JLL India.

SHARE THIS ARTICLE ON
  • ABOUT THE AUTHOR

    Jyotindra Dubey was part of Hindustan Times’ nationwide network of correspondents that brings news, analysis and information to its readers. He no longer works with the Hindustan Times.

SHARE
Story Saved
×
Saved Articles
Following
My Reads
My Offers
Sign out
New Delhi 0C
Sunday, November 27, 2022
Start 15 Days Free Trial Subscribe Now
Register Free and get Exciting Deals