6 more Trump Towers in India soon as demand for luxury flats soars

Kalpesh Mehta, founder of Tribeca Developers and real estate partner of the Trump Organization in India, announced that Donald Trump Jr. and Eric Trump, sons of US president-elect Donald Trump, are scheduled to visit India early next year to launch a series of new Trump Tower projects. The launches, expected between March and June, will bring six additional Trump Towers to India, expanding the country's luxury real estate brand's footprint.

Currently, India boasts four high-rise Trump properties in Mumbai, Pune, Gurgaon, and Kolkata. The upcoming projects will add one tower each in Mumbai, Pune, Gurugram, Bengaluru, Hyderabad, and Noida. Once completed, India will surpass the United States with the most Trump Towers worldwide.

Family connect

Mr Mehta recounted his connection to the Trump family, tracing it back to his days as a student at the Wharton School of Finance, where a shared mentor introduced him to Donald Trump Jr. The friendship eventually led to a business partnership, when the Trump Organization entered the Indian real estate market.

Tribeca will act as the co-developer for the upcoming projects, partnering with local developers for each tower. According to Mr Mehta Tribeca will manage the design, product specifications, and customer handling.

In the Gurugram Trump Tower project, Mr Mehta noted that prices per square foot have doubled over the past three years, from approximately ₹15,500-16,000 to ₹33,000. Full-unit prices have similarly appreciated, ranging from ₹6-11 crore initially to ₹11-24 crore now, reflecting strong demand in India’s luxury real estate sector.

“The luxury real estate market is booming in India, and the demand has been robust," Mr Mehta said, attributing the growth to the high demand for premium properties.

(By arrangement with livemint.com)