Donald Trump Jr, US President Donald Trump’s eldest son, recently visited India in a bid to promote several luxurious residential projects in the country. Most of these real estate projects are named after the elder Trump, and are licensed by his firm Trump Organisation, a private conglomerate owned by him.
After Donald Trump was elected as the President of the United States in November 2016, Trump Jr and Eric Trump were entrusted with the responsibility of managing the company. Let’s take a look at Trump Jr’s background and what interests the Trump Organisation holds in India with respect to real estate sector:
- After Donald Trump was elected as the 45th President of the United States in November 2016, the management of the company was transferred to Trump Jr and his brother Eric Trump. This was done in order to avert a conflict of interest. While Trump Senior serves his term as the POTUS, Trump Jr and his brother will serve as the trustees of the company.
- With projects in four cities — Mumbai, Pune, Gurugram and Kolkata – India is Trump Organisation’s largest international market.
- The chief agenda of Trump Jr’s visit to India is meeting investors and business leaders in the four cities to expand the firm’s business interests
- The organisation’s fourth project —named after Donald Trump senior and licensed by his company Trump Organisation — was launched in Gurugram in January this year.
- The Trump Organisation is not, however, investing in the project, which is collaboration between NCR-based real estate major M3M and Tribeca Developers of Mumbai.
- The project’s popularity can be gauged from the fact that its properties are already pegged at rates 30 percent higher than the current market rates.
- The 200 m high project will be the tallest in the city. The building is going to have 258 apartments in a price bracket of Rs 5 crore – Rs 10 crore with a total area in a range between 3,500 and 4,500 square feet. With the booking fee pegged at $38,000 per unit, the project is scheduled for completion in March 2023.
- The Kolkata project of Trump Organisation is being built by a collaboration of Unimark, RDB Group and Tribeca and offers a 360 degree panoramic view of the city. The apartment building will sport a fitness centre equipped with steam, sauna and locker rooms. It will also have an exclusive cigar and wine lounge, a private theatre and an entertainment terrace.
- In Mumbai, Trump Jr will open a demo unit at the golden-facade Trump Tower, being built by the Lodha Group.
- According to website of the Lodha Group, the 78-storey building will have 3/4 bed residences. Its interiors are designed by HBA Studios, which has been described as “one of the biggest names in luxury interiors.”
- In Pune, two towers of 23 stories each are being constructed by Trump Jr’s company over an area of 268,000 sq ft in collaboration with Panchshil developers. The interiors are being styled by award-winning designer Matteo Nunziati. Each unit is going to cover an area of 6,100 square feet, and will be loaded with a fitness centre, outdoor lap pool, spa and an art gallery, spread across an area of 13,500 square feet.