Trump-branded projects to come up across India
India is set to get more Trumpbranded projects as local developers seek to capitalize on the brand. Unimark Group, a developer based in Kolkata, has...
India is set to get more Trumpbranded projects as local developers seek to capitalize on the brand. Unimark Group, a developer based in Kolkata, has tied up to rebrand a previously planned residential apartment building in the eastern city into a Trumpbranded project. The project is being redesigned to make it better and more luxurious to fit with Trump standards, said Dipanjan Ray, head of marketing at Unimark.
He said the project is still in planning stage, so they aren’t marketing it yet. When they do, he doesn’t doubt Mr. Trump’s election as the next U.S. president will help sales as it has elevated brand awareness in India. “People were not so aware of Mr. Trump,” a year ago, Mr. Ray said. “He is well known to everybody right now.” The Trump Organization has also signed up with developer M3M India Pvt. Ltd., to build a residential building in the bustling New Delhi suburb of Gurgaon, according to two people familiar with the matter.
The deal was done prior to Mr. Trump’s election, according to both people, but has yet to be formally announced. In April, Trump announced a tie-up with another developer Ireo to build an office building in Gurgaon. A spokesman for Ireo wouldn’t comment on the status of that project. Panchshil Realty, a developer in the western Indian town of Pune, finished building the first Trump Towers in India earlier this year.
The price tag for the fancy flats: $2.2 million and some are still available. The developer had been planning another project with the Trump brand name. Sagar Chordia, a director at Panchshil, told The Wall Street Journal in November that he was planning to meet with officials at The Trump Organization to discuss a new residential project, named Trump Riverwalk.
Chordia met with Trump in the US after his election, but said that they didn’t discuss any business. He wouldn’t discuss the latest status of Trump Riverwalk but said it doesn’t have plans to launch any new projects at the moment as the property market in India is a bit soft. In Mumbai, developer Lodha Group is building a 75-story Trump Towers which has threeand four-bedroom apartments with options for indoor Jacuzzis and automatic toilets. The flats are listed at around $1.3 million onward, and some are still unsold.
By SHEFALI ANAND