Trump World Center Pune: Here’s what we know about The Trump Organization’s first commercial project in India
The Trump Organisation is all set to foray into India’s commercial real estate market with the launch of the first Trump World Center in Pune
The Trump Organization is entering India's commercial real estate market with the launch of its office project, Trump World Center, in Pune, announced Tribeca Developers, the Trump Organization's licensed partner in India.
This will mark the Trump Organization's first commercial office project in India, although it is the second project in Pune. The organization previously partnered with Panchshil Realty over a decade ago to develop a residential project in the city.
India already hosts four Trump-branded residential projects, making it the Trump Organization's largest market outside the United States. With additional projects in the pipeline, the brand's presence in India continues to grow.
Here’s what we know about the Trump Organization’s upcoming commercial office project in Pune.
1. Where is the Trump World Center coming up?
The Trump World Center is being developed on a 4.3-acre plot of land located on North Main Road in Pune's Koregaon Park Annexe, according to Tribeca Developers.
Also Read: First Trump-branded office, Trump World Center, to come up in Pune
2. How big is the Trump World Center?
As announced by Tribeca Developers on March 19, the Trump World Center will span 1.6 million square feet, featuring a combination of commercial office spaces and retail areas. The project will include two 27-story towers.
3. Who will construct it?
The Trump Organization has appointed Tribeca Developers as its licensed partner in India, who, in turn, has teamed up with Pune-based Kundan Spaces to build the Trump World Center. "Construction work has already begun, and we have secured all the necessary approvals. There were some design changes for which approval is being worked out. For now, we have commenced work with excavation," said Kalpesh Mehta, founder of Tribeca Developers.
4. Investment in Trump World Center, Pune
According to Tribeca Developers, the investment for the Trump World Center project in Pune is approximately ₹1,700 crore, with revenue being split 50-50 between Tribeca Developers and Kundan Spaces.
"We will fund the Pune project through a combination of debt, equity, and sales proceeds. Our focus will be on selling smaller office spaces, typically in the 5,000 to 7,000 sq ft range. The remaining part of the project will involve leasing office spaces," Kalpesh Mehta, added.
Also Read: Trump Towers in India: All that you need to know about their location, price and more
5. Where will more Trump-branded office spaces come up in India?
According to Tribeca Developers, the focus is currently on the Pune project, which will be the first commercial office space under the Trump brand. "This announcement is limited to Pune for now, and we have several residential projects in the pipeline. Once the commercial project is nearing completion, we will explore the possibility of expanding our commercial portfolio, but no decisions have been made as of now," Mehta added.
