Exclusive | Trump Towers to garner ₹15,000 crore in sales, expand into commercial real estate
Tribeca Developers, the licensed partner of the Trump Organisation in India, is aggressively looking to expand in the country and is set to begin deliveries of its flagship Trump Tower project in Gurugram.
Kalpesh Mehta, founder of Tribeca Developers, told CNBC-TV18 that the brand is planning to launch six new projects, which will help generate sales of ₹15,000 crore with an investment of ₹7,000 crore to ₹8,000 crore over the next four to six years.
The brand is also diversifying by adding its first commercial real estate project in Pune, expanding from residential to commercial.
Mehta discusses the flagship Trump Towers, stating that Tribeca currently has four ongoing projects in India—Mumbai, Pune, Gurgaon, and Kolkata. “The Mumbai and Pune projects are already delivered. For the Gurgaon project, we have applied for the Occupancy Certificate (OC), and the project should be delivered within the next three to four months. Kolkata will take another six months,” Mehta said.
An Occupancy Certificate (OC) is a crucial document issued by local municipal authorities that certifies a building’s fitness for occupancy and adherence to government norms.
On the brand’s expansion plans, Mehta added, “Of the four projects we already have, two are delivered, one is set to deliver in three months, and the last one in about six months. We are planning six new projects for the future.”
Considering the overwhelming response, Tribeca notes that the Trump brand has performed exceptionally well in India over the last few years. India is now the largest market for Trump-branded properties outside the U.S. “There are more Trump properties in India than in any other country outside the U.S. Because of the brand’s success, we have finalized six new projects across various cities in India, which will be announced and launched very soon,” Mehta added.
As part of its diversification strategy, Tribeca is expanding beyond residential real estate. “For the first time, we are launching Trump’s office project in India, along with Trump golf hotels and villas very soon,” Mehta said.
The total sales value of these projects is expected to be around ₹15,000 crore, with the total investment ranging from ₹7,000 crore to ₹8,000 crore over the next four to six years. Mehta explained, “A lot of the money in real estate goes towards land. We’ve already invested ₹2,000 crore to ₹3,000 crore in land. Construction investments will depend on the nature of each project, with six projects spread across cities of varying heights. We hope to deliver most of these projects over the next four to six years.”
Currently, Tribeca’s aim is to add a total of 8 million square feet across the six new projects. “The four projects we have currently cover about 3.5 million square feet. The next six will add about 8 million square feet in total,” Mehta added.
These six projects will be spread across Gurugram, Pune, and Mumbai. In terms of first-time entries, the brand will add projects in Noida, Bangalore, and Hyderabad. “These projects will be at the very top end of global luxury, and since there aren’t many such projects in any city at a given time, it takes us a long time to identify the right land, the right partner, and to meet the standards Mr. Trump and the Trump Organisation expect,” Mehta said.
Sharing further details of the first office project, Mehta explained, “The first one will be in Pune—a 1.6 million square feet office development with two iconic towers and a connected rooftop. Tribeca is the only developer with the world’s largest rooftop, and every one of our projects now features iconic rooftops. This office project is expected to be launched between March and May next calendar year, with delivery anticipated by late 2029 or early 2030. This is a large office project.”
