MUMBAI, March 19 (Reuters) - Tribeca Developers, the
Trump Organisation's property development partner in India, on
Wednesday launched the first Trump-branded commercial real
estate project in the country targeting sales of over $289
million.
India has become the Trump brand's largest real estate
market outside of the U.S. over the last decade, where Tribeca
has helped to develop residential projects in four Indian cities
under licensing agreements with other local developers.
The office project named "Trump World Center" will be
developed in collaboration with real estate company Kundan
Spaces in the western Indian city of Pune, where several large
global and local IT firms have set up offices over the last
decade.
The project is scheduled for completion in about four years,
Kalpesh Mehta, founder of Tribeca Developers, told Reuters in an
interview in Mumbai.
Mehta said that his company will also be launching
three-to-four more Trump-branded luxury residential projects
across northern and southern India over the next 4 to 6 weeks.
He forecasts the combined sales potential from the office
project launched on Wednesday and upcoming residential projects
at $1.15 billion.