US President’s The Trump Organisation enters commercial real estate in India with Rs 2,500-crore Pune project

NEW DELHI: US President Donal Trump’s The Trump Organisation’s has now entered the commercial real estate space in India. The American real estate major already has multiple residential projects here in JV with local partners. India is expected to have the maximum number of Trump Towers outside of the US.

“Excited to announce the newest addition to the Trump portfolio: Trump World Center Pune! This marks The Trump Organisation’s first venture into commercial real estate in India, joining its extensive collection of residential properties in the region,” The Trump Organization said on X Friday.

Eric Trump, EVP of The Trump Organization, said: “India has embraced the Trump brand with remarkable enthusiasm. After our successful collaboration on several iconic residential projects, we are proud to launch our first commercial development in India (—) Trump World Center Pune…” The project is a JV with Indian partners — real estate player Tribeca Developers and Kundan Spaces. The 4.3-acre site is expected to generate sales exceeding Rs 2,500 crore.

Tribeca Developers founder Kalpesh Mehta said: “This is a defining moment… for the evolution of commercial real estate in India. Trump World Center Pune…(marks) Pune’s ascent as a global business nucleus. After nearly a decade of shaping India into the Trump brand’s largest market outside the US, I’m proud to unveil this office project (jointly with) the Trump Organization and Kundan Spaces.”

How Trump entered the business in India 15 years ago

How did Trump Organisation enter the real estate business in India? Shortly after he won the Presidential poll last Nov, Mehta had told TOI. “I did my MBA from Wharton, where the Trump family, including President Trump, went to. A professor there connected me to Donald Trump junior. We met at a bar in New York 14-15 years ago and on the back of a cocktail paper napkin discussed and made our initial plans which eventually became a reality. President Trump’s advice when we subsequently tied up and since then has been just this: ‘We don’t want to do too many projects, but whatever we do should we the best in class’.”

In 2014 when the two companies were launching Trump Tower Mumbai, Donald Trump had come to India. “This was shortly after PM Modi had won the 2014 general election. He generally discussed India during his first time trip to the country and the topic here was mainly Modi at that time. Since then he has been very fond of our PM. The President has always believed firmly in the potential of India but he became more bullish after Modi became the PM. India will have the maximum Trump properties outside of the US,” Mehta had said.

The Trump real estate business is run on the lines of management contract hotels where the Indian partner invests in the hardware (brick and mortar) and the foreign partner, Trump Organisation in this case, brings its branding and software in terms of service level and global reach.

From four all-residential high-rise luxury residential Trump Towers in Mumbai, Pune, Gurgaon and Kolkata, the number will swell to 10 in the next six years with as many more projects — including office, golf course and villas — to be built in Noida, Hyderabad, Bengaluru, Mumbai, Gurgaon and Pune.

The Trump Organization comprises of real estate spanning across residential, resort, hotel to golf, commercial office and retail segments.