Tribeca Developers Expands Trump Tower Footprint in India: Up to Five New Projects in the Pipeline
Tribeca Developers, a prominent luxury real estate firm in India, is making significant strides in expanding its portfolio of Trump Tower-branded residential properties. The firm, which holds the exclusive rights to license the Trump brand in India, is currently in the process of finalizing agreements for four to five new Trump Tower projects across various cities in the country. This ambitious expansion plan is expected to be concluded by September, according to Kalpesh Mehta, the founder of Tribeca Developers.
Expanding Trump Towers Across Major Indian Cities
As of now, Tribeca is actively developing Trump Tower residential projects in Gurugram and Kolkata. However, the company’s expansion strategy involves adding new projects in other key cities such as Pune, Hyderabad, and Mumbai. The projects are being fast-tracked to meet a September deadline, which coincides with the US presidential election campaign, where Donald Trump is a leading candidate. With September deadline for elections approaching, there is an emphasis on finalizing new deals before the deadline. The objective is to complete four to five deals within this timeframe. This urgency highlights the strategic importance of synchronizing new project launches with the political timeline, ensuring a continued strong presence in the Indian luxury real estate market.
The Strength of the Trump Brand in India
The Trump brand remains a powerful and sought-after name in India’s luxury real estate sector. The brand’s association with opulence and high-end living has continued to attract affluent buyers who see value in owning properties under the Trump name.
Earlier, Tribeca had licensed the Trump brand to other developers in India, such as Panchshil Realty in Pune and Macrotech Developers (commonly known as Lodha) in Mumbai. These collaborations resulted in the successful development of Trump Towers in Pune and Mumbai, establishing a strong foundation for the brand in the country.
Tribeca’s Growing Portfolio and Strategic Partnerships
In addition to the Trump Tower projects, Tribeca has been actively expanding its own portfolio of luxury residential developments. The company recently sold out the first tower of its “The Edge” luxury housing project in Parel, Mumbai. This project, developed in collaboration with the Tejukaya group, marks Tribeca’s first foray into the Mumbai market. The Edge is part of Maharashtra’s cluster redevelopment policy, which aims to revitalize old chawl-style tenements by providing tenants with rehabilitation units on the same site while offering new luxury apartments as the free-sale component.
The first tower of The Edge, offering 3, 4, and 5-bedroom homes priced between ₹4 crore and ₹12 crore, has been a commercial success, with homes worth over ₹1,000 crore sold. The second tower of the project is scheduled for launch in January 2025. This development is indicative of Tribeca’s strategy to cater to the growing demand for luxury housing in prime urban locations.
Pranav Tejookaya, Managing Director and CEO of the Tejukaya group, expressed confidence in the partnership with Tribeca, indicating that the two companies might collaborate on the planned Mumbai Trump Tower project on a land parcel owned by the Tejukaya group in Matunga. Such collaborations underscore Tribeca’s approach of leveraging strategic partnerships to expand its footprint in the competitive luxury real estate market.
Financial Performance and Future Outlook
Tribeca Developers has reported robust financial performance in the ongoing fiscal year, with bookings worth ₹1,300 crore already secured. The company is optimistic about closing the fiscal year 2025 with revenues around ₹2,000 crore. Looking ahead, Tribeca has set an ambitious business development target of ₹6,000 crore to ₹7,000 crore for the financial year. The Trump Tower projects and other Tribeca developments are expected to contribute equally to this target, reflecting a balanced growth strategy.
As part of its long-term vision, Tribeca is also considering tapping into the capital markets to fuel its expansion plans. Mehta mentioned that the company views equity investment as a safer option compared to debt financing, given the risks associated with the latter. Tribeca aims to list on the stock market within the next four years, a move that would provide the company with the necessary capital to support its growth ambitions.
As Tribeca continues to develop new projects and explore opportunities in the capital markets, it is set to further solidify its position in the high-end real estate market in India.
Image source- tribecadevelopers
