Donald Trump Jr. attended the company’s 10th-anniversary celebration where the announcement was made.
In India, the Trump brand would introduce two additional asset classes: Trump offices and villas.
The greatest market beyond the United States for the real estate business with its headquarters in New York is already India.
“There could be over six additional collaborations (under the Trump brand) in the pipeline. Next year, we intend to contract 3 to 5 years of them. One will debut in the midst of the next year. Trump’s projects will all be new construction,” said Tribeca developers founder Kalpesh Mehta at the celebration.
The Trump Organization’s executive vice president, Donald Trump Jr., flew into Pune to participate in the events.
“We are beginning an accelerated expansion plan to double our development portfolio in the upcoming year thanks to the accomplishment of our recently completed projects and the positive industry trends”, Mehta added.
The overall pipeline of deals is somewhere between Rs 7000 and Rs 8000 crore, and our goal is to close roughly Rs 5000 crore.
In the coming 12 months, we will sign seven to eight projects totalling about Rs 5,000 crore. The three to five Trump-branded projects, for which we are considering new cities like Bengaluru and Hyderabad, will each require assets worth Rs 2,500 crore, according to Mehta.
The company will now be considering expanding into commercial office properties and villa developments in India in complement to luxury residential development.
The partnership between Tribeca and the Trump organisation in India has endured 10 years.
I have witnessed Tribeca’s development capabilities expand over the past ten years to a point where they can compete with the top luxury developers on the planet. I’m excited to collaborate on our next expansion ambitions in India. Trump Jr., who had travelled to Pune to commemorate the occasion, acknowledged as much.
Mehta explained how he pioneered the idea of branded residences in India nearly ten years ago, From vision to creating landmarks.
We are currently in a position where we have strong upswings behind us. “What Tribeca has done has solid proof of concept,” he said, adding “Being capital has not been easy.”
He added, “We have also raised pricing on our Trump ventures by 25 to 30%.”
In collaboration with Panchshil Realty, The Trump Organization recently constructed an opulent property in Pune. In 2014, it collaborated on a residential development in Mumbai with the Lodha company, which is now under construction.
Five developments totalling 6.5 million square feet of the saleable property make up Tribeca, which 10 years ago introduced the idea of branded residential homes to the nation.
In addition, it has three future non-Trump projects in Pune totalling 2.73 million square feet.
