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Trump-Tribeca partnership plans 3-5 Indian projects next year
The US-based Trump Organization in association with Mumbai-based partner Tribeca Developers plans to add three to five new projects across India next year worth roughly Rs 25 billion.
“Up to six new deals (under the Trump brand]) are in the works. We plan to sign three to five of them next year. One will be launched in the middle of next year. Maybe we will have two launches next year. All Trump projects will be greenfield,” said Kalpesh Mehta, founder of Tribeca Developers, at the 10th anniversary of the company’s association with The Trump Organisation. Donald Trump Jr, who is the executive vice president of The Trump Organisation, flew into Pune to mark the celebrations this week.
“With the success of our recently delivered projects and the tailwinds in the industry, we are embarking on an aggressive expansion plan of doubling our project portfolio in the next year,” Mehta said.
“The total deal pipeline is around Rs 70-80 billion and our target is to close about Rs 50 billion. We will sign up seven-eight projects worth around Rs 5,000 crore over the next 12 months. Of this Rs 25 billion worth of properties will be for the three-five Trump-branded projects for which we are looking at new cities such as Bengaluru and Hyderabad,” said Mehta.
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