Trump Jr to launch Kolkata luxury project on February 21

Abhishek Law Kolkata | Updated on February 19, 2018 Published on February 19, 2018

To have dinner with investors

The ultra high-end residential property market in Kolkata will get a shot in the arm with Donald Trump Jr launching the Trump Tower in the city later this week.

Trump Jr, Executive Vice-President of Trump Organization and elder son of US President Donald Trump, is scheduled for a two-day visit to Kolkata. He will have dinner with prospective investors in Trump Tower on Tuesday and formally launch the project the next day.

Trump Tower Kolkata, located on the eastern fringes of the city, is jointly developed by Mumbai’s Tribeca Developers and Kolkata-based Unimark Group, and RDB Realty and Infrastructure. It will have 136 units. According to the developers, nearly 70 per cent bookings have already been made in two months. Trump properties are priced ₹3-5 crore. In an e-mail message, the developers claimed Trump Tower Kolkata will be “the fastest-selling Trump Tower project in India.”

The developers have categorically stated that the project is not owned, developed or sold by The Trump Organization. There is a licensing arrangement for the Trump name.

India itinerary

The Kolkata visit falls as a part of Trump Jr’s India tour. India is the Trump Organization’s biggest international market, with four real-estate projects under way.

Apart from Kolkata, there are three other residential properties that are in the works — one each in Gurugram, Mumbai and Pune. The largest is in Gurugram, that includes two towers with a total of 254 units. A 78-storey Trump-branded tower with 400 residences is coming up in Mumbai while the fourth project will come up in Pune.

The Trump Organization has not put up capital for its Indian projects.

According to Mayank Saksena, Managing Director, JLL India, sales of Trump Towers have been “very good” in Gurugram, Pune and Kolkata.

“In Mumbai, there is a huge supply of branded premium and luxury properties, which could lead to a comparatively lower response there,” he said.

Published on February 19, 2018
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