Trump Towers' demand surges in India amid US election uncertainty
As former US President Donald Trump competes for a second term in the upcoming November 5 elections, his real estate businesses are getting a major boost in India. The demand for luxury properties carrying the 'Trump Towers' name has skyrocketed. Two Trump Towers have already been completed in Pune and Mumbai, while two others are under construction in Gurugram and Kolkata.
India emerges as major market for Trump real estate
India is shaping up to be one of the biggest international markets for the Trump brand, with plans for at least four more towers. Tribeca Developers, the sole licensor of the Trump brand in India, has said it plans to independently manage and build all future Trump Tower projects. The prices for these completed projects vary between ₹10.40 crore and ₹19.05 crore.
Luxury real estate sales surge in India
The luxury real estate market in India has witnessed a phenomenal growth in sales, with the segment's share in total realty pie doubling from 2% in 2022 to 4% in 2023. The sale of luxury units skyrocketed by an astonishing 75% last year. In H1 2024, luxury homes made up a staggering 41% of total sales, up from a mere 30% a year ago.
Trump's brand retains appeal despite political controversies
Despite the controversies surrounding Trump, his luxury brand continues to attract affluent Indians, high-net-worth individuals (HNIs), and non-resident Indians (NRIs). A Pune-based real estate broker said sales in Trump Towers have been fairly consistent over the years, with high demand from affluent clients who seek landmark properties. The Trump Organization licenses the Trump name to third-party developers for real estate development outside the US.
Signature aesthetics define Trump Towers in India
Trump Towers are famous for their signature aesthetics, such as glass facades and black and gold exteriors, which reflect the luxury of the Trump brand. The current Trump Towers in Mumbai and Pune feature these signature touches. The Pune tower's interiors were designed by Italian designer Matteo Nunziati, while those of the Mumbai tower were developed by the Lodha Group.
Tribeca Developers to handle future Trump Tower projects
Tribeca Developers, which holds exclusive licensing rights to the Trump brand in India, has announced it will now handle all upcoming Trump Tower projects on its own. The company is currently working on the Gurugram project with M3M group and partnering with Kolkata-based Unimark for the Kolkata project. Tribeca has also introduced a separate luxury project, The Edge, in Mumbai's Parel suburb and plans a second Trump Tower project in Mumbai.
