Donald Trump’s victory could give a boost to Indian real estate developers who had partnered with him in the last two-three years.
Kalpesh Mehta, founder and Managing Partner of Tribeca, the Mumbai-based developer responsible for bringing the Trump Organisation into India, said: “India probably has the highest number of Trump branded real estate projects outside of North America.
“Trump has five ongoing deals in India with a gross development value of about $1.5 billion. Sales have launched on two projects and one of those projects is already delivered,” Mehta said.Price premiums
Three more projects are likely to be launched in 2017. The two that have been launched, in Mumbai and Pune, have performed well in terms of price premiums and sales velocity.
The Pune project has achieved a price premium of about 60 per cent over neighbouring projects.
Lodha Group MD Abhishek Lodha said: “Trump has been successful in everything that he has worked on and we wish him success as he takes over the most important role in the world.”
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.