Trump-branded luxury homes are making their debut in India with Trump Towers Pune, two 22-floor towers that are being built by city-based developer Panchshil Realty, under a license agreement with Donald Trump group company DT Marks LLC Pune.
Speaking to Business Line from New York soon after signing the deal, Sagar Chordia, Director, Panchshil, said though the company planned to extend this brand to Mumbai and Bangalore as well, the current agreement was valid only for the Pune project.
While Trump Towers Pune is not owned, developed or sold by Donald J. Trump, the Trump Organisation or any of their principals or affiliates, the group is providing technical support, architectural expertise and guidelines on the safety features and materials being used, Chordia added.
He did not reveal the financials of the deal citing a confidentiality agreement, but clarified that there was no investment from the American group.
“Luxury lifestyle is fast catching up in India and with the growing number of high-networth individuals in the country, we have realised that our brand adds significant value to ultra luxury real estate developments,” Donald Trump Jr said in a statement. He and his sister Ivanka are closely involved in the project, Chordia said.
Located at Kalyani Nagar, the 44-unit project, priced at Rs 20,000 per sq ft, is valued at Rs 450-500 crore. With approvals ready and construction already underway, it is expected to be completed by 2015.
Amongst the highlights here will be a fitness centre designed by actor John Abraham, who will also support the training, common areas designed by Italian interior designer Matteo Nunziati, and German kitchens and European fitments in homes
According to Chordia, the Trump Group is looking for long-term relations with developers in Delhi, Gurgaon, Chennai, Hyderabad, Bangalore and Mumbai.