The US-based Trump Organization said on December 13 that it plans to add three to five new projects in India next year worth around Rs 2.5 billion in collaboration with Tribeca Developers, a partner with headquarters in Mumbai.
"Six new deals [under the Trump brand] could be announced soon. Next year, we intend to sign three to five of them. One will launch in the middle of next year. We'll probably have two launches next year from three to five we sign.”, said. Kalpesh Mehta, founder of Tribeca Developers, said on the 10th anniversary of the company's partnership with The Trump Organization: "All of Trump's projects will be in new areas." Donald Trump Jr., Executive Vice President of the Trump Organization, traveled to Pune to celebrate the festivities.
We are starting an aggressive expansion plan to increase our project pipeline next year, according to Mehta, as a result of the success of our recently completed projects and the industry tailwind.
"The whole deal volume is somewhere between Rs 7,000 and Rs 8,000 crore, and we plan to conclude about Rs 5,000 crore. We will sign seven to eight projects worth around Rs 5,000 crore in the next 12 months. Of these properties worth Rs 2,500 crore will be for the three or all five Trump-branded projects for which we are looking at new cities like Bangalore and Hyderabad,” Mehta said.
"Tribeca has been essential in the promotion of the Trump brand in India over the past 10 years," stated Donald Trump Jr. My friendship with Kalpesh goes back even further, and I am delighted to be here for this special occasion."
The Trump brand will add two more asset classes in India: Trump Villas and Trump Offices.
"Trump's portfolio in India used to be just Trump residential properties, but now we are very interested in offering two more asset classes: Trump offices and Trump villas, and the whole market is open to us," Mehta said.
Mehta explained how he introduced the concept of branded housing to India almost a decade ago, saying: "A dream I started with in hindsight seems ridiculous and risky, to create a development company with no development experience, no capital, no land.”. Today we are one of the largest brand developers in India, the world's largest branded real estate after the Trump Organization. We are creating milestones. Today is a very exciting day for us and what got us here today is our asset light. business model, which is a model where we don't make the cut, we don't stand behind it, and we focus all our energies on developing the best products," he told reporters.
"Now we're standing at a point where there's an incredible tailwind behind us. There's a good proof of concept of what Tribeca has to offer," he said, adding that "it wasn't easy to be short on assets."
He said, "We also raised the costs of Trump projects by 25 to 30%."
Mehta said the company has two portfolios under its fund: the first is the Trump-branded residential portfolio and the second is the non-Trump portfolio that Tribeca is developing independently in partnership with other builders.
While the company plans to add 3-4 new projects to Trump's portfolio, the remaining projects will be under the Tribeca brand in Mumbai, Pune and Delhi-NCR, where it already has projects.
Trump Jr. said the company took a hit during his father's four years in the job and two years after the pandemic.
There are already four Trump-branded properties in the country, making India one of the biggest markets for the brand outside the US.
Nearly ten years ago, the New York-based Trump Organization collaborated with Mumbai-based Tribeca Developers to join the Indian real estate industry. The US company and Tribeca have partnered with local developers, including the Lodha Group, to build luxury projects under the "Trump" brand. Four opulent projects have been announced and finished in Pune thus far.
There are four Trump projects in India: Trump Tower Delhi - NCR, Trump Tower Kolkata, Trump Pune Tower and Trump Tower Mumbai.
The Trump Organization and Panchshil Realty have previously finished an opulent property in Pune. In 2014, he collaborated with the Lodha Group on a housing project in Mumbai that is now under construction.
In November 2017, Trump Tower in Kolkata, consisting of 140 ultra-luxury apartments, was launched and is being developed by Unimark Group, RDB Group and Tribeca Developers.
The fourth residential project in Gurugram, Haryana was launched in 2018 and is being developed by M3M Properties.
Tribeca, which pioneered the concept of real estate branded residential cessation in the country ten years ago, has 6.5 million square feet of sellable space in five projects. In addition, it has three upcoming projects other than Trump, with approximately 2.73 million sf across three projects in Pune.
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