New Delhi: The Trump Organization is bullish on Indian real estate, which is its largest residential market outside of North America, Executive Vice President Donald Trump Jr.
The New York-based Trump Organization, which is a company of former US President Donald Trump, entered the Indian real estate market through a partnership with Mumbai-based Tribeca Developers.
The American firm and Tribeca have teamed up with local developers, including the Lodha group, to build luxury projects under the “ Trump ” brand. So far, four luxury projects have been announced, one of which in Pune has already been completed.
“I have been optimistic about the (Indian) market for a long time,” said Donald Trump Jr, when asked about his future plans in India.
He appeared as a guest on a talk show with Kalpesh Mehta, the founder of Tribeca Developers, hosted by Alchemist.
Trump Jr did not disclose the company’s future plans in India.
The Trump Organization and its Indian partner are developing luxury residential properties of quality and global standards, he said.
Amid the global COVID-19 pandemic, Trump Jr said there had been a “dynamic shift” in real estate globally, particularly in the office market due to working from home and from work. distance.
He said you have to see how it plays out after the pandemic.
Asked about the current market scenario, Mehta said India’s real estate sector is recovering from the first wave of the COVID-19 pandemic, but the recovery process has taken a hit because of this second wave.
Maharashtra’s real estate markets have seen a strong recovery relative to other markets, he said.
Mehta said the real estate market will experience strong growth once the pandemic is overcome.
In India, The Trump Organization has already completed a luxury project in Pune in partnership with Panchshil Realty.
He partnered with the Lodha group in 2014 for a housing project in Mumbai which is currently under construction.
In November 2017, Trump Tower was launched in Kolkata comprising 140 ultra-luxury apartments and under development by Unimark Group, RDB Group and Tribeca Developers.
The fourth housing project in Gurugram, Haryana, launched in 2018, is being developed by real estate company M3M.
Besides Trump Towers, Tribeca is independently developing a few projects in partnership with other builders.
This story was posted from an agency feed with no text editing.
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