Tribeca Developers and Ira Realty announced on Tuesday their collaboration to develop a Trump-branded luxury housing project in Hyderabad with a total investment of approximately ₹2,000 crore. According to reports from The Economic Times, this marks the eighth Trump-branded project in India and the first in South India. The project will be located at Golden Mile Road in Kokapet, featuring two 65-storey buildings with a total developable area of 22 lakh square feet. As per The Economic Times, construction work has now started and the project is on track for completion in four years. Kalpesh Mehta, founder of Tribeca Developers, revealed that the company will invest around ₹1,700-1,800 crore on this project, excluding the land cost. The land value is estimated at approximately ₹250 crore at current rates. On sales realization, Mehta projected it would be between ₹3,500 crore and ₹4,200 crore. The project has now received its RERA registration around two weeks ago and is expected to take five years to complete. As per The Economic Times, expressions of interest are currently open ahead of the formal sales launch, with the project expected to launch in October.
As reported by The Economic Times, the Trump Towers project will comprise 450 apartments including 16 penthouses, with the price of apartments starting from ₹5 crore and ranging up to ₹10 crore. Kalpesh Mehta, founder of Tribeca Developers, revealed that the company will invest around ₹1,700-1,800 crore on this project, excluding the land cost. The land value is estimated at approximately ₹250 crore at current rates. On sales realization, Mehta projected it would be between ₹3,500 crore and ₹4,200 crore. The project will offer 3.5- and 4-BHK apartments, with sizes ranging from 3,600 sq ft to 5,800 sq ft, each with a private lift and exclusive lobby. Around 120 apartments will feature double-height spaces and are expected to be priced at ₹8 crore to ₹10 crore. The towers will also include duplex residences of around 12,000 sq ft and penthouses of up to 30,000 sq ft, with prices ranging from ₹5 crore to ₹18 crore. According to The Economic Times, the towers will be connected by a suspended sky bridge at the 28th floor, with the Trump Club located above the bridge. The club will span both towers and feature landscaped spaces and amenities.
According to The Economic Times, the project has already received encouraging market response with eight penthouses already sold for around ₹250 crore. One penthouse was specifically sold for ₹62 crore, with a family purchasing the units and combining them into a single residence. Mehta told The Economic Times that "though we officially hadn't opened sales, the incoming demand and enquiries have surprised us, particularly the interest in the penthouses. Hyderabad is a bit like Gurugram, where buyers like branded products, large-sized homes and come with massive buying power." As reported by The Economic Times, the company has witnessed an encouraging response with eight penthouses already sold for around ₹250 crore. Mehta claimed the towers will be the tallest in South India with a height of 240 metres, also marking the tallest Trump tower in India. Around 25%-30% of demand is expected to come from NRI buyers, primarily from the US, Mehta said, noting that "in Hyderabad, we expect that to go up to 25-30% because of the large NRI base around the world from Hyderabad."
As reported by The Economic Times, Mumbai-based Tribeca Developer is the official representative of the Trump brand in India, having brought the Trump brand to India in 2014. The company has launched projects in Mumbai, Pune, Gurugram, Noida and Kolkata. Ira Realty, founded in 2019, has developed 15 projects in Hyderabad, delivered over 5 million sq ft, and currently has more than 20 million sq ft under development. Narsi Reddy, Founder and Managing Director of Ira Realty, stated that the company assembled this land over many years and wanted a brand that needs no introduction worldwide. Eric Trump, Executive Vice President of The Trump Organization, expressed delight at bringing the Trump brand to Hyderabad for the first time, noting that India continues to be one of the world's most exciting luxury real estate markets. He noted that Hyderabad is one of India's most dynamic and rapidly growing cities, stating "I am confident that Trump Towers Hyderabad will become one of its most iconic addresses." As per The Economic Times, Eric Trump added that "Tribeca has been our partner in India for over a decade and has built more Trump-branded homes than anyone in the world."
According to The Economic Times, India already hosts the largest number of Trump-branded projects outside North America, with Hyderabad bringing the total to seven real estate projects in the country. Out of the eight announced in India so far, there are seven housing projects and one office complex under the brand. With Hyderabad, The Trump Organization will have residential developments in Pune, Gurugram, Mumbai and Kolkata, besides a commercial office project planned in Pune. Another Trump-branded residential project is also expected in Noida. Tribeca is exploring a super-luxury farmhouse and resort project in Hyderabad and could also consider Chennai for a future development in South India. The company may launch three to four more Trump-branded projects over the next four years, alongside four to six projects under the Tribeca banner. Tribeca Developers is the largest developer of Trump-branded properties in the world, with 13 projects covering 14 million square feet and a portfolio valued at more than ₹16,000 crore. As per The Economic Times, the company is looking to do 3-4 more Trump-branded projects in India over the next four years, exploring Bengaluru and Chennai markets, and considering Trump-branded hotels and golf course projects as well.
