Founder of Tribeca Developers, Kalpesh Mehta, on Friday said that the Trump juniors – Donald Trump Jr and Eric Trump – will visit India in early next year to launch iconic ‘Trump Tower’ projects.
The project launches are expected between March and June, said Kalpesh Mehta, who is Trump Organisation’s real estate partner in India.
Mehta, in a virtual interaction with ANI, said they will develop six more Trump Towers in India, one each in Mumbai, Pune, Gurugram, Bengaluru, Hyderabad, and Noida.
There are at present four such high-rise luxury Trump properties, one each in Mumbai, Pune, Gurgaon and Kolkata.
With six more launches in the coming months, India will have the highest number of such high-rise Trump towers, surpassing the United States.
“I was studying in the US, at the Wharton School of Finance. Trump Jr was junior to me in the college. A professor, who was my mentor and guide, was also the mentor of Donald Trump’s juniors. The professor introduced me to Donald Trump juniors and our friendship started,” Mehta said.
Donald Trump Jr and Eric Trump are sons of US President-elect Donald Trump. He won a historic re-election earlier this week.
Mehta said they signed the deal at a cocktail party in the US, which is when Trump’s real estate business entered India.
“India has the highest number of Trump towers outside America. Going forward with the six more launches, India will have the highest in numbers.”
In the six new projects, Tribeca will be the co-developer and it will partner with a local developer.
“Land will be of the partner, the design and the product specifications, customer handling will be looked after by Tribeca,” Mehta said.
In the already launched project in Gurugram, he said the per unit price is almost double to that of peers, and the market is doing well.
The per unit price of the Gurugram project has already doubled in the past three years, he said. Per square feet price was Rs 15500-16000, which has risen to Rs 33,000. In full unit, they have risen to Rs 6-11 crore to now Rs 11-24 crore.
“The luxury real estate market is booming in India, and the demand has been robust,” he said, adding that luxury real estate in India is at its all-time high.
On plans outside India for a Trump project, Mehta, without naming any country, said his company is in talks with a neighbouring island country’s government for a Trump hotel.
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