Trump Organisation, Tribeca Launch First Commercial Project In Pune, India Pegs Sales Over

Tribeca Developers, in collaboration with the Trump Organisation, has launched its first Trump-branded commercial real estate project in India. Named Trump World Center, the development in Pune is expected to generate sales exceeding $289 million and is slated for completion in approximately four years, as per a report by the Economic Times.

The project will be executed in partnership with Kundan Spaces, a Pune-based real estate firm. Pune, a major hub for global and domestic IT firms, has seen significant commercial real estate growth in recent years, as per the report.

Expansion Plans and Investment Strategy

Tribeca Developers founder Kalpesh Mehta confirmed that the company will roll out three to four additional Trump-branded luxury residential projects in northern and southern India within the next four to six weeks. The combined sales potential of these ventures, including Trump World Center, is projected at $1.15 billion, the report added.

With their partner, they are investing Rs 1,700 crore in the Pune commercial project. A combination of debt, equity, and sales proceeds is used to finance the project. As reported by ET, Mehta plans to sell 5,000-7,000 square feet of office space directly, while leasing the rest.

Unlike conventional shopping malls, the development will also include retail spaces designed to cater to corporate tenants, with a focus on food and beverage outlets.

More Trump-Branded Properties on the Horizon

Tribeca currently runs four Trump-branded residential projects in Mumbai, Pune, Gurugram, and Kolkata. The upcoming luxury residential developments in North and South India will involve a total investment ranging from Rs 6,000 to Rs 7,000 crore, the report added.

He also talked about possible future Trump-branded hospitality projects, though there has not been any official announcement that has yet been made.

Strong Market Presence in India

Eric Trump, Executive Vice President of The Trump Organisation, stated that India has welcomed the Trump brand with great enthusiasm. Now that we have successfully collaborated on residential projects in India, we are launching our first commercial development there. He claimed that Trump World Center Pune will set a new benchmark for excellence, emulating the standards of Trump properties worldwide.

India to Lead in Trump-Branded Real Estate

With four existing Trump Tower projects covering a combined 3.5 million sq ft and more launches underway, India is set to surpass the United States in the number of Trump-branded properties. The Trump Towers in Gurugram and Kolkata, scheduled for completion in 2025, have attracted high-net-worth individuals (HNIs), non-resident Indians (NRIs), and Bollywood celebrities as buyers, as per various media reports.