Tribeca Developers founder, Kalpesh Mehta, revealed that six more Trump Towers will be developed in India – one each in Mumbai, Pune, Gurugram, Bengaluru, Hyderabad, and Noida — making India the home to most number of Trump Towers in the world, including the United States.
After securing a historic mandate in the recently concluded US Presidential elections, Donald Trump is set to expand his iconic line of ‘Trump Towers’ in India, with his sons – Donald Trump Jr and Eric Trump – scheduled to visit India early next year launch new Trump Tower projects is Indian cities.
In an interview with news agency ANI, Tribeca Developers founder, Kalpesh Mehta, revealed that six more Trump Towers will be developed in India – one each in Mumbai, Pune, Gurugram, Bengaluru, Hyderabad, and Noida — making India the home to most number of Trump Towers in the world, including the United States.
India to have highest number of Trump Towers
Mehta, who is the founder of Tribeca Developers, the real-estate partners of Trump Organisation in India, said Trump juniors – Donald Trump Jr and Eric Trump- will visit India early next year and the project launches are expected between March and June.
Currently, there are four Trump Towers in India, one in Mumbai, Pune, Gurgaon and Kolkata. And with six more launches in the pipeline, India is set to become home to highest number of such high-rise Trump Towers, surpassing the United States.
“India has the highest number of Trump towers outside America. Going forward with the six more launches, India will have the highest in numbers,” said Kalpesh Mehta.
Mehta also revealed how he became friends with Trump juniors in college, a friendship which later evolved into a fruitful business partnership with the sons of US-President elect.
“I was studying in the US, at the Wharton School of Finance. Trump Jr was junior to me in the college. A professor, who was my mentor and guide, was also the mentor of Donald Trump’s juniors. The professor introduced me to Donald Trump juniors and our friendship started,” ANI quoted Mehta as saying.
How Trump Tower projects will work?
Mehta said they signed the deal at a cocktail party in the US, which is when Trump’s real estate business entered India, adding that his firm will be the co-developer in the Trump Tower projects and will also partner with a local developer.
“Land will be of the partner, the design and the product specifications, customer handling will be looked after by Tribeca,” Mehta said.
In the already launched project in Gurugram, he said the per unit price is almost double to that of peers, and the market is doing well.
The per unit price of the Gurugram project has already doubled in the past three years, he said. Per square feet price was Rs 15500-16000, which has risen to Rs 33,000. In full unit, they have risen to Rs 6-11 crore to now Rs 11-24 crore.
“The luxury real estate market is booming in India, and the demand has been robust,” he said, adding that luxury real estate in India is at its all-time high.
On plans outside India for a Trump project, Mehta, without naming any country, said his company is in talks with a neighbouring island country’s government for a Trump hotel.
(With ANI inputs)