The President of the United States, President Donald Trump, officially paid a visit to India on Monday for Trump Towers Gurugram, but he already has a business relationship with India that has existed for a long time as regards his real estate projects existing in the country.
The business dealing Trump has in India is among the most significant ones located outside the US. As a matter of fact, India houses the most significant part of Trump’s real estate portfolio in locations outside North America.
A report from proptiger.com stated that Trump’s Organization with its headquarters in New York had since 2013, after making its way into the Indian market has commenced several stylish residential projects having a potential income of $1.5 billion in collaboration with domestic bodies.
This company handles four extremely stylish residential projects, a niche in the real estate market with the name; Trump Towers, situated in Delhi, Pune, Kolkata, and Mumbai, with an office in the National Capital Region of Gurugram.
The business partners of Trump’s organization in India are Macrotech Developers, Panchshil Realty, Unimark Group, and M3M India.
Trump Towers in Pune are double towers having the black glass façade, developed in collaboration with Panchshil Realty. Trump Towers located in Mumbai, is a 75-storey structure developed by Macrotech Developers (previously regarded as Lodha Group). Tribeca Developers and M3M India are the partners of Trump Towers in Gurugram.
Trump Towers’ recent project in India is currently developed in Kolkata in collaboration with Unimark Group.
A three-day trip to New York focused on home buyers was also organized by the developers of the residential projects in Gurugram and Kolkata. The president’s son Donald Trump Jr met up to 150 guests that were in attendance.
Market experts indicated that Trump’s organization investments indicate that foreign investors are also willing to invest in the real estate sector in India.
The Chairman of ANAROCK Consultants, Anuj Puri indicated that the Trump Towers established in India is evidence to reveal the fact that the global luxury brands are being attracted to India’s real estate sector.
Puri further stated that a positive reception was generated from Trump Towers.
Moving ahead in the business interest, the portfolio of Trump’s Organization may be extended towards India’s hospitality sector.
Last year, Donald Trump Jr stated in an interview that the Trump Organization would start considering licensing and branding deals in India. Probably hotels, after his father leaves office as the President of the US.
The arrival of the president on Monday has revived the hopes of reinforcing the bilateral ties and every sign of a much-anticipated trade deal.
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However, regardless of the bilateral ties that exist between both countries, there is the gradual development of Trump’s business in India, which is recognized as one of the world’s significant markets even though it is associated with a few challenges.