Trump Made $2.3 Million from Licensing Deals in India

Trump Made $2.3 Million from Licensing Deals in India
Sep 2020 , by , in Latest News, News/Views

In his first two years in the White House, US President Donald Trump’s revenues from abroad totalled 73 million dollars, much of which was from his golf properties in Scotland and Ireland. Some of the revenue came from licensing deals in countries like Philippines (USD 3 million), India (USD 2.3 million) and Turkey (USD 1 million).

Real estate experts in India said that majority of the 2.3 million dollars (around Rs 20 crore) has come through the sale of Trump properties in India worth over Rs 600 crore.  This has largely been received from the Trump Towers project in Pune and Mumbai which are complete and the rest from the projects in Delhi NCR (Gurgaon) and Kolkata.

Till date, only the Pune project located in Kalyani Nagar, Pune and the Lodha Trump Towers, Worli are complete and ready for possession. Around Rs 500 crore would have perhaps been earned by US realty firm from the deal it entered with Panchshil Realty in Pune and Lodha Group in Mumbai. The remaining Rs 100 crore would have come from the projects in Gurgaon and Kolkata.

The brand made its debut in the Delhi-NCR market in 2018, with a fourth property after Mumbai, Pune, and Kolkata. It made its debut in North India through realty companies M3M India and Tribeca Developers. M3M and Tribeca are developing 250 ultra-luxury residences under a brand license from The Trump Organisation. The project is also expected to have a 35,000 sq ft area of amenities. These apartments are priced between Rs 5 crore and Rs 10 crore.

In Pune, the global brand had licensed the Trump name to Panchshil Realty, in Mumbai to Lodha Group and in Kolkata, the Trump Organisation has partnered with Unimark Group to build a 400,000 sq ft residential project with the signature Trump Tower on the city’s EM Bypass stretch.

It had also hoped to generate roughly over a billion dollars in terms of sales potential from all its properties in India.

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