May 02, 2013, 03.59 PM IST
Donald Trump Jr, executive vice-president, The Trump Organisation says, in an interview to CNBC-TV18, exposure to global luxury brands in the country and abroad, makes India an ideal market for the real estate company to invest in.
For every deal that we sign, there are a 100 deals that go out of the window
Donald Trump Jr
The Trump Org
Donald Trump redefines luxury real estate in America - be it housing, offices, retail, casinos or even golf courses. Along with son, Donald Trump Jr , the real estate tycoon is set to expand his presence in India.
In late 2012, Donald Trump launched the residential Trump Towers in Pune in collaboration with Panchshil Realty. This 22-storey high, twin-tower project will have 44 apartments each spread across 6,094 sqft. These five-bedroom single condominiums will be accessed by private elevators and fully automated.
Around 15 apartments have already been sold and today fetch a price of nearly Rs 14 crore a piece.
In an interview to CNBC-TV18, Donald Trump Jr, executive vice-president, The Trump Organisation says that the surge in the number of high-networth individuals and exposure to global luxury brands in the country and abroad, makes India an ideal market for the real estate company to invest in.
However, Trump Jr has adopted a slow-and-steady approach by understanding market conditions and partnering with local developers to establish the brand in India.
Below is an edited transcript of the show on CNBC-TV18
Q: What makes you so bullish on India?
There has always been a strong connection between a group of individuals doing very well and luxury brands. So, India is a very important market for me which I have spent a lot of time getting to learn and know over the last few years. And it is something I am very excited about.
Q: You have gone on record to say India will be one of your top three markets outside the US. By when do you see that becoming a reality?
A: I think that will chiefly depend on global growth because we are a luxury-focused brand. We cannot afford to hop in and ink any deal. We have to be careful selection of the target audience, finding the right partners within a market place that will allow us to build something that is world-class.
Q: For India to become bigger than the top three global markets, you will have to choose the right local partners. What are the attributes that will aid your selection?
A: Attributes such as transparency and a proven track record, which were lacking in the market till a few years ago, have started to develop and gain strength. After zeroing-in on the right partners, we a keen on the choosing the right project within their portfolios.
Q: Who are the developers in India that impress you the most?
A: I will tell you once I have inked deals with them. Apart from working with Panchshil Realty in Pune, we are also in talks with a lot of major groups. Once I let you know who I am most impressed with, you will be able to guess who I am signing a deal with.
Q: Do you have any deals on the table right now?
A: We are working on numerous deals actually. I am hoping to announce a few in the next few weeks..
Q: How many of these deals are we likely to see in 2013?
A: If I could ink and implement those deals in 2013, we would all be very impressed. For every deal that we sign, there are a 100 deals that go out of the window. So we are working on a couple of deals that are right now in the term-sheet stage. If those deals pass that stage, we may be able to make an announcement. But again a lot is going to depend on what is discussed as these deals reach the final stages. The devil is always in the detail and once we get there, we'll have a better understanding of where we will be in the future.
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