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Trump Organization: Launching First Commercial Project In India

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Trump Organization is ready to launch its maiden commercial real estate project in India, later this year. India has been the largest market with most number of Trump branded properties outside of North America. The Executive Vice Chairman of the Trump Organization, Donald Trump Jr. said that they will be launching a commercial project in India this year.

 

The Trump Organization is also keen on forming alliances for hospitality projects in India but will take a decision on this at an “appropriate time”. The first commercial office deal in India by the Trump Organization was brought in 2016, with private equity fund and developer IREO.

 

Gurgaon’s Golf Course Extension Road will see the high-end 600,000-700,000 sq. ft. commercial project, built by the IREO alongside a retail complex, stated earlier by the developer during the announcement of the tie-up.

 

The Trump Organization had launched a 1.25 million sq. ft. project in Gurgaon, which is its largest super-luxury residential development in India. Trump Tower brand has marked its entry by the launching of this project into the Delhi-NCR region, as this was the fourth Trump Tower to be launched in India.

 

Two of the Trump’s exclusive India partner Delhi-based realtor M3M India and Tribeca Developers will develop the Trump Towers Delhi-NCR.  According to the Tribeca Developers, they have been able to garner the sales worth Rs 700 crore since the launch of Trump Towers Delhi-NCR project. Which is on its way to become their fastest selling project in India so far. Similarly in Kolkata, they have achieved the sales worth Rs 1100 crore in the last fourth months.

 

Both the towers will have over 250 units with an average price of Rs 7.5 crore, with the development of over Rs 2,400-crore revenue potential. The February will see the construction of the project, entailing a total expenditure of Rs 1,200 crore, excluding land cost.

 

In his statement by the Trump, India is becoming more and more attractive for the business entities and the foreign investors. This healthy growth of the real estate market is due to the regulatory changes that the country is going through. The last few years have been instrumental as they have been witnessing some major changes in the Indian real estate sector, hence opening up the country to outside markets.

 

A raft of reforms including the government’s decision in late 2016 to demonetize high-value currency notes, the Goods & Services Act, implementation of Real Estate (Regulation & Development) Act, 2016, amendment to Benami Transaction Act and now the concept of joining the Aadhar with property transactions is helping in restructuring the sector.

 

The exclusive India partner of Trump Organization, Tribeca developers is developing branded residential projects in India, spreading over 3 million sq. ft., with a sale value of Rs 4,000 crore. Tribeca also has an additional development pipeline of over 1.5 million sq. ft.

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