Demonstrating the robust demand for premium properties in the Delhi-NCR region, Smartworld Developers and Tribeca Developers announced the successful sale of all 298 “Trump branded residences” in Gurugram, securing Rs 3,250 crore in a single day.
The company said that the project’s ultra-premium penthouses, worth a total of Rs 125 crore, were also fully allotted on Day 1.
The project “Trump Residences Gurugram” is being executed by Tribeca Developers and Smartworld Developers. Tribeca Developers are India's official licensor of Trump-branded projects while Smartworld is a Gurugram-based real estate developer.
The new Trump residences are coming up in Gurugram Sector 69 with an investment of Rs 1,200 crore. According to the company, Gurugram is the only city in the world that will have second Trump-branded residences.
A joint statement issued by the companies on May 13 said that apartments are priced between Rs 8 crore and Rs 15 crore and all 298 homes were absorbed on Day 1 of the launch, which is a testament to the surging demand for branded, ultra-luxury living in India.
“Selling Rs 3,250 crore on Day 1 places this ‘Trump Residences Gurugram’ among the biggest luxury deals the country has ever seen. This launch proves the unmatched magnetic pull of the Trump brand and how deeply it resonates with India’s most discerning buyers. We are proud to have raised the bar once again, delivering iconic, globally benchmarked luxury alongside Smartworld and The Trump Organization,” Kalpesh Mehta, Founder of Tribeca Developers, said.
This collaboration between Smartworld, Tribeca, and The Trump Organization comprises two 51-storey towers. In the project Smartworld will oversee development, construction, and customer service, while Tribeca leads design, marketing, sales and quality control.
“The phenomenal response to Trump Residences is a testament to the aspiration for world-class living in India. Smartworld is proud to lead the delivery of this landmark project, and we thank our buyers for their trust in our vision,” Pankaj Bansal, founder of Smartworld Developers, said.
This project marks the second Trump-branded residential development in North India. The first, Trump Towers in Delhi NCR, was launched in 2018 in Gurugram, is also fully sold out and set for delivery later this month.
Bansal of Smartworld Developers had on the launch emphasized on Trump Tower Sector 65’s price appreciation since its launch, which was in 2018. “The initial set of investors in the first Trump project in Gurugram has seen 100 percent price appreciation,” he said.
Currently the country has six Trump Tower projects in cities including Pune, Mumbai, Gurugram and Kolkata.
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