Brand Trump gets a realty boost
Donald Trump’s victory in the US presidential elections has given a fillip to his India business partners, while the brand itself continues to scout for growth opportunities in India.
“India probably has the highest number of Trump branded real estate projects outside North America. Trump has five ongoing deals in India with a gross development value of about $1.5 billion. Sales have started on two projects and one of these projects is already delivered. Three more projects are likely to be launched in 2017 and we continue to scout for more opportunities,“ said Kalpesh Mehta, managing partner, Tribeca Developers, Trump’s India representative responsible for supporting the brand here.
Trump currently has five luxury projects including a ready twin tower 46-apartment block with Panchshil Realty in Pune and an under-construction 300apartment project in the heart of Mumbai at Lower Parel with the Lodha Group.
According to Mehta, both the projects -in Mumbai and Pune have performed well in terms of price premiums and sales velocity. The Mumbai project with Lodha has achieved a price premium of around 35%, while the Pune project with Panchshil has received a price premium of around 60% over neighbouring projects.