Tribeca Developers plans more Trump luxury home launches across India

June 12, 2024

Tribeca Developers, an exclusive licensee of Trump Organisation-branded luxury properties in India, plans more launches across the country.

“Gurgaon will get a second Trump tower, Mumbai will get a second Trump project,” Tribeca founder Kalpesh Mehta told businessline. “We’re looking at doing Trump projects in Hyderabad and Bengaluru. So, there will be four more Trump towers at least in the next 12 months.”

Two under-construction projects in Gurgaon and Kolkata will be ready for delivery later this year, he said.

Tribeca Developers had earlier licensed the Trump brand to the Lodha Group for a project in Mumbai’s upscale Worli neighbourhood and to Panchshil Realty for a project in Pune.

Mehta said that while the projects in Mumbai, Pune and Gurgaon represent the full-stack development model, where the company undertakes all aspects of the project, including capital investment and construction, in other cities it adopts a partial-stack format, where it partners with local developers and focuses solely on branding, design, sales, and marketing, with no direct capital or construction involvement.

Growing demand

Mehta foresees sustained demand for luxury homes in India and, based on the growth over the past three years, a scope for price escalation in this segment.

“Luxury is doing well. The Trump brand has been very well received in all the four cities that we are present in,” Mehta added.

The company is not only looking at joint ventures  but also considering acquiring land in newer markets such as Hyderabad, Chennai, and Chandigarh.

Recently, Tribeca partnered with the Tejukaya Group for its first luxury residential project in Mumbai. With about 400 units, it is slated for development in Mumbai’s Parel micro-market at an estimated investment of around ₹1,000 crore.

Banking on rising aspirations and economic growth, especially wage hikes, in second-tier cities, Tribeca is eyeing projects in Coimbatore, Raipur, Indore, and Jaipur, with the minimum pricing at ₹10,000-12,000 per square metre.

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