The real estate magnate Donald Trump is all set to turn the tables of Indian realty sector. The recently elected president of United States has made huge investments in Indian real estate through ‘Trump organization’. Trump organization is one of US largest conglomerates; owned by Donald Trump and is headquartered in New York City. The 93 years old company has a key emphasis in the real estate and holds an enormous portfolio of properties both residential and commercial.
In India, the gross development value of the five projects of Trump organization is estimated to be $1.5 billion. The time when Indian realty has witnessed slight decline Trump’s investment is going to infuse new hopes in the sector. The organization is bullish with its aims to have the presence across the nation for Trump-branded office and residential projects.
The real estate tycoon Donald Trump had invested in super luxury residential projects in Mumbai and Pune. One of which was twin-tower 46-apartment block with Panchshil Realty in Pune and the second was a 300-apartment project with the Lodha Group in Mumbai. The Lodha group claims that Trump Tower in Mumbai has emerged as one of the most pursued real estate projects in the country. The project garnered premiums of 30 per cent more than the competitive projects in the same locality and until June 2016, the group was able to sell more than 50 per cent of the residences.
Trump Group is now looking for a breakthrough in commercial real estate in Delhi and the National Capital Region (NCR). To quote Trump junior, “Cities like Bangalore, Noida, Delhi and Kolkata provide a lot of opportunities. We are also confident of adding additional projects in Mumbai and Pune”. “We have an aggressive pipeline in India and are thrilled with our announcement in Gurgaon.”
After the success of these two project in India, the American president has announced for an exciting “brand tie-up” with private equity fund and developer IREO in Gurgaon. The Trump-IREO new deal is for a high-end 600,000-700,000 sq ft office building on Gurgaon’s Golf Course Extension Road which would be built by IREO alongside a retail format for Rs 1,000 crore. Lately, in November, Trump Organization has partnered in Kolkatta with Unimark Group to build a 400,000 sq. ft residential project with the signature Trump Tower. However, the other details of the deal have been kept confidential. Along with this Trump Organization is in close nexus to partner with Pune-based Panchshil Realty for a subsequent project in Kharadi area of the city. The project is anticipated to have four towers, totalling 500,000 sq. ft. The business giant has also shown high futuristic expectation from the government and development of the economy and has declared it is planning an enormous expansion in India.
Trump has been investing in India from 2011, much before then he became president of the United States. Interestingly, for president Trump outside of North America (which is his home country), India is the second largest market for his family real estate firm. It has reassured the optimism in Indian realty sector.