Trump Jr appeared to be bullish on the Indian market, announcing plans to invest Rs 2,500 crore worth of projects in 2023.
In an exclusive interaction with Moneycontrol, Donald Trump Jr spoke on the decade long partnership between the Trump organization and Mumbai-based real-estate developers, Tribeca. Trump Jr appeared to be bullish on the Indian market, announcing plans to invest Rs 2,500 crore worth of projects in 2023.
The eldest son of USA’s 45th President, Trump Jr spoke candidly about India’s vital role in global dialogue, calling it a place that can fill a lot of the void that realistically America might not be able to do right now.
“That creates incredible, geopolitical opportunities as well as economic opportunities for the country,” he said.
With the regulatory framework in real estate in place now, Trump Jr said that despite that helping with monitoring the industry, especially for foreign investments, he “respects this sort of hustle that is within Indian entrepreneurial ethos”.
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He also credited Kalpesh Mehta, founder of Tribeca developers with “navigating those waters”. “And now I think, we’re partners, not just with him, but with some of the finest developers, not just in India, but in the world here,” he added.
“Now, as an American developer, you travel halfway around the world, and that ends up being another thing that is a waste of time, but you appreciate that aspect of the culture, which I think, other places could probably use a little bit more, but I’m much happier,” he said talking about the challenges he faced earlier as a foreign developer.
On launching luxury projects with the Trump brand worth Rs 2,500 crore in India, Mehta said, “The bread and butter for the Trump brand always will be luxury, high rise residential, but we see a great demand for other asset classes also.” Moreover, India is the largest market for Trump branded properties outside of North America “and the success of the four projects that we have here as has only bolstered that demand.”
On equity investment in India, Trump Jr said the brand is always open to the idea however, he added, “I don’t think we’d ever come in on our own, to try to just do that, but to possibly invest with some of the people that we’ve already had incredible experiences with – we’d certainly be open to that.”