First Trump-branded office, Trump World Center, to come up in Pune
Tribeca Developers, Trump Organisation’s India partner, teams up with Kundan Spaces for the first Trump-branded commercial project in India
The Trump Organisation is foraying into India’s commercial real estate market with the first office project spanning 1.6 million sq ft in Pune. The Trump World Center Pune involves an investment of ₹1,700 crore and has a sales potential of ₹2500 crore.
Kalpesh Mehta, founder of Tribeca Developers, said the company, which already has four luxury residential Trump Tower projects in India, plans to develop three more housing projects in North and South India in the coming months, with an investment of around ₹6000 to ₹7000 crore.
Tribeca Developers and Kundan Spaces will develop the commercial project in Pune. It is located on a 4.3-acre land parcel on North Main Road in Pune's Koregaon Park annexe.
According to the company, Trump World Center Pune will have over 1.6 million sq ft and over 27 floors of office space.
This will be the Trump Organisation's first commercial office project in India and its second in Pune. The Trump Organisation has one residential project in Pune, which was signed in partnership with Panchshil Realty over a decade ago.
The company said that it plans to build for-sale strata offices in one tower and larger leasable offices in the other, catering to a range of business needs.
"From creches to salons, auditoriums to gyms, sports facilities, spas, restaurants, and grocery stores, the development will integrate a comprehensive suite of services and amenities. A luxury retail boulevard will showcase high-end brands, while India’s first Trump Club will offer an exclusive space for business leaders, complete with dining and networking facilities," Tribeca Developers said in the statement.
₹1,700 crore investment in Pune
“The investment for the Pune project is around ₹1,700 crore, and there will be 50% to 50% revenue from our partner. We are funding the project through debt, equity, and sales proceeds. We are focusing on having sales for smaller office spaces, say in the 5,000 to 7,000 sq ft range. The other part of the project is leasing office spaces," said Kalpesh Mehta, founder of Tribeca Developers.
"The Pune project will be 1.6 million sq ft, and it will also include retail spaces. The retail part is not something like a shopping mall but basically to support the commercial offices, maybe something like space for food and beverages," Mehta added.
Open to villa and hospitality projects under the Trump Organisation branding
According to Mehta, the company is open to villa and hospitality projects under the Trump brand and is exploring opportunities. "There is nothing immediate that we have on cards, but three more projects will be announced in the coming months under the residential segment with the Trump brand.”
"The first one is the Pune commercial space that we have announced, and three more residential projects will be announced, which will be in North and South India," Mehta added.
“We will be investing around ₹6,000 to ₹7,000 crore for the upcoming projects under the Trump bucket,” Mehta added.
Eric Trump, executive vice president of The Trump Organisation and son of US President Donald Trump, said in a statement that “India has embraced the Trump brand with remarkable enthusiasm. After our successful collaboration on several iconic residential projects, we are proud to launch our first commercial development in India. Trump World Center Pune will set a new standard of sophistication and excellence, reflecting the same commitment to quality that defines Trump properties across the globe.”
Ashish Jain, Managing Director of Kundan Spaces, said, "This project reflects our vision to put Pune on the world map and redefine the city’s business landscape.”
All about Trump Towers in India
There are currently four Trump Tower properties in Mumbai, Pune, Gurugram, and Kolkata. With more launches expected in the coming months, India will have the highest number of Trump Towers, surpassing the United States.
The four Trump Tower properties cover approximately 3.5 million square feet. The Gurugram and Kolkata projects are scheduled for delivery in 2025.
Also Read: Trump Towers in India: All that you need to know about their location, price and more
Trump Organisation had previously licensed the brand to Lodha for the Trump Tower in Mumbai and Panchshil Realty in Pune. It executes the Gurugram project with the M3M group and the Kolkata project with the Unimark group. Buyers of these luxury housing units include HNIs, NRIs, and Bollywood stars.
