Even as Donald Trump’s political future will be decided in the November 5 elections, where the former US president is running for a second term, his brand’s real estate ventures in India are charting a steady expansion, with a surge in demand for Trump-stamped luxury properties.
Two Trump Towers have been completed in Pune and Mumbai and two more are under construction in Gurugram and Kolkata. At least four additional towers are in the planning stages, cementing India as one of the Trump brand’s largest international markets, according to industry insiders.
Tribeca Developers, the exclusive licensor of the Trump brand in India which previously outsourced the development of Trump Towers to Macrotech Developers and Panchshil Realty, now has plans to manage and construct all upcoming Trump Tower projects independently.
Prices for the completed projects start at Rs 10.40 crore and can go up to Rs 19.05 crore. India's luxury real estate market sees a surge in sales, with the segment's share in total realty pie increasing from 2 percent in 2022 to 4 percent in 2023. The sale of luxury unit surged 75 percent in 2023. In the first half of 2024, luxury homes accounted for 41 percent of total sales, up from 30 percent a year back. Luxury real estate in India is typically priced above Rs 4 crore. However, the price range can vary, depending on the location, amenities, and other features of the property.
Despite controversies surrounding the former president, the appeal of Trump’s luxury brand remains resilient among affluent Indians, high-net-worth individuals (HNIs), and non-resident Indians (NRIs) seeking a landmark address.
"Sales in Trump Towers have been fairly consistent over the years, with high demand from affluent clients who seek landmark properties,” a Pune-based real estate broker explained. Pune is home to one of the two completed Trump Tower projects in India, with Bollywood actor Ranbir Kapoor among the well-known buyers there. Kapoor rented out his unit in September 2023.
The Trump Organization, run primarily by Donald Trump’s sons, Donald Jr and Eric, does not directly develop real estate outside the US. Instead, it licenses the Trump name to third-party developers, charging a management fee that typically ranges from 3-4 percent of each sale.
Developers are free to design Trump Towers as they see fit but generally employ specific aesthetics—glass facades, as well as black and gold exteriors—reflecting Trump’s brand as a luxury offering.
The existing Trump Towers in Mumbai and Pune embody these signature touches, with interiors in Pune designed by Italian designer Matteo Nunziati. Trump Tower Mumbai, developed by the Lodha Group, once offered timeshares on a private jet, although some residents alleged disputes over unmet promises of complimentary flying hours.
In India, Tribeca Developers holds exclusive licensing rights to the Trump brand, and the company’s founder, Kalpesh Mehta, maintains a close relationship with Donald Trump Jr. Tribeca had previously licensed the brand to local developers such as Lodha for the 78-storey Trump Tower in Mumbai, and Panchshil Realty in Pune.
As a growing player in the luxury real estate market, Tribeca has announced that it will now handle all upcoming Trump Tower projects independently. Tribeca is executing the Gurugram project along with the M3M group, and is partnering with Kolkata-based Unimark for the Kolkata project. The Gurugram Trump Tower has units priced between Rs 12 crore and Rs 24 crore, while those in Kolkata are selling for approximately Rs 4-7 crore.
Tribeca has also launched a separate luxury project, The Edge, in Mumbai's Parel suburb, and is planning a second Trump Tower project in Mumbai, which it will co-develop with a land partner. In addition to Mumbai, Tribeca has its sights on expanding with new Trump Tower locations in Pune, Gurugram, and potentially Hyderabad.
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