Trump discontinues numerous real estate projects
According to reports, US President-elect Donald Trump has cut ties with realty projects in several countries including India. Exploratory talks over projects in Pune and Buenos Aires, Argentina will be discontinued by the Trump organization. Licensing deals for hotels in Brazil, Azerbaijan and Georgia were also called off. Pune's Panchshil Realty's real estate developer however said that the project had been dropped "long back."
Trump Organization
One of America's biggest conglomerate, the Trump Organization is US President-elect Donald Trump's multinational company, headquartered in New York City. Started almost 93 years ago as Elizabeth Trump & Son, the company is run by Donald Trump, who serves as its Chairman currently. With the organization's prime focus on real estate, the company owns a massive portfolio of residential and commercial properties.
Trump's venture into India's real estate sector
In 2012, Trump Organization partnered with Pune-based Panchshil realty to build the Trump Tower in Pune's Kalyani Nagar. In 2014, the company joined hands with Mumbai's Lodha Group to build a high-end luxury residential property, which reportedly offers its residents private jet services.
Trump partners with IREO to develop project in Gurugram
Real estate major Trump Organization teamed up with Indian real estate company IREO earlier this year to develop a commercial space in Gurugram. The project, pitched to cost Rs.1,000 crore, comes after the company signed deals to build Trump towers in Mumbai and Pune. The office tower was developed over a 500 acre township with a large leasable area.
Trump's Organization inks deal for real estate project in Kolkata
Donald Trump's Trump Organization has partnered with Indian realty firm Unimark Group to launch a residential project in Kolkata. Reports stated that plans are ongoing to develop a 400,000 sq. ft. project along Kolkata's EM Bypass. Talks are on to develop a second realty project in Pune, according to reports. The project in Kolkata is pitched to be company's fifth project in India.
Looking forward: Trump's real estate plans in India
"India probably has the highest number of Trump branded real estate projects outside North America. Three more projects are likely to be launched in 2017," said Kalpesh Mehta, Tribeca Developers, Trump Organization's India representative.
