Donald Trump Real Estate Firm Launches First Commercial Tower in India: What We Know So Far

Donald Trump's real estate company, The Trump Organization, has teamed up with Kundan Spaces to unveil its first commercial tower in Pune, India. This initiative signifies the company's entry into the Indian commercial real estate arena.

The Trump Organization's venture into India's commercial sector is anticipated to elevate the level of luxury and sophistication within the country’s business environment. By partnering with Mumbai-based luxury real estate developer Tribeca Developers, they aim to capitalize on the rising demand for upscale commercial spaces in India.

Tribeca acts as the exclusive licensor of the Trump brand in India, holding a license from The Trump Organization, which is controlled by the Trump family. Previously, Tribeca had leased the brand to developers like Lodha and Panchshil for residential Trump Tower projects in Mumbai and Pune, respectively. Now, they have decided to take the lead in Trump Tower ventures as a developer, primarily collaborating with other real estate firms and land partners, with successful projects already launched in Gurugram and Kolkata.

About the Project

Currently, there are four Trump Tower properties located in Mumbai, Pune, Gurugram, and Kolkata. With more launches on the horizon, India is set to host the highest number of Trump Towers globally, outpacing the United States.

For the Pune project, Tribeca Developers and Kundan Spaces will be at the helm. It will be built on a 4.3-acre land parcel along North Main Road in Pune's Koregaon Park annex.

The Trump World Center Pune is projected to encompass over 1.6 million square feet of office space spread across more than 27 floors.

According to Tribeca Developers, "From creches to salons, auditoriums to gyms, sports facilities, spas, restaurants, and grocery stores, the development will integrate a comprehensive suite of services and amenities. A luxury retail boulevard will showcase high-end brands, while India’s first Trump Club will offer an exclusive space for business leaders, complete with dining and networking facilities."

“The investment for the Pune project is around ₹1,700 crore, and there will be 50% to 50% revenue from our partner. We are funding the project through debt, equity, and sales proceeds. We are focusing on having sales for smaller office spaces, say in the 5,000 to 7,000 sq ft range. The other part of the project is leasing office spaces," said Kalpesh Mehta, founder of Tribeca Developers.

“We will be investing around ₹6,000 to ₹7,000 crore for the upcoming projects under the Trump bucket,” Mehta added.

Ashish Jain, Managing Director of Kundan Spaces, said, "This project reflects our vision to put Pune on the world map and redefine the city’s business landscape.”