Indian real-estate companies Smartworld Developers and Tribeca Developers have unveiled plans for a new Donald Trump-branded ultra-luxury residential project in Gurugram, Haryana, India, reported the Economic Times via Press Trust of India.
The development, named ‘Trump Residences’, is poised to comprise 298 units with a total saleable area of 1.2 million square feet.
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It marks the second such development in the city and the sixth in India.
Smartworld Developers co-founder Pankaj Bansal said: “The total project cost will be around Rs22bn [$256.8m] for this new Trump-branded project.”
The development, expected to be completed within five years, will feature two 51-storey towers with apartments priced from Rs80m to Rs120m.
Tribeca Developers founder Kalpesh Mehta said: “Trump returns to Gurugram with a second project. This reflects the strength of the Gurugram market and also the partnership.”
The M3M Group, a real-estate company, which is developing the first Trump project in Gurugram, is set to start handing over possessions later this month.
Smartworld Developers will undertake the construction of the project while Tribeca Developers, the official representative of the Trump brand in India, will oversee the design, marketing, sales, and provide project management consultancy services.
Trump Organization executive vice-president Eric Trump said: “We are incredibly excited to launch our second project in Gurgaon (Gurugram), and even prouder to be doing it once again with our amazing partners at Tribeca, M3M and Smartworld.
“The fact that we’re expanding in this remarkable city speaks volumes not just about the strength of the Trump brand in India but also about the exceptional partnership we’ve built and the tremendous confidence the Trump Organization has in Gurgaon’s future.”
Mehta added that out of six Trump-branded projects announced in India so far, four have been completed in Pune, Mumbai, Kolkata, and Gurugram.
Meanwhile, in Mumbai in the Indian state of Maharashtra, Capacit’e Infraprojects recently secured a major contract for civil core and shell works.
