Kalpesh Mehta of Tribeca Developers: Trump's Advice for Indian Real Estate
Kalpesh Mehta, founder of Tribeca Developers, the licensed partner of the Trump Organization in India, shares insights on the brand's future in luxury real estate. With plans to launch six new Trump Tower projects, Tribeca aims to solidify its position as
Tribeca DevelopersTrump OrganizationReal EstateIndiaLuxury PropertiesReal Estate PuneNov 06, 2024
The Historic Win and Its Impact
Reacting to Donald Trump’s election as the president of the United States, Mehta described it as a 'historic' win. He believes that a Trump presidency will strengthen the India-US relationship, which could have a positive impact on the real estate market. “We believe that a Trump presidency is fundamentally good for the world and for further strengthening the India – US relationship. PM Modi and President Trump greatly admire and respect each other, and this relationship has the potential to be greatly beneficial to the world at large,” Mehta said.
The Trump-Tribeca Partnership
Mehta’s relationship with the Trump family dates back over 15 years, when he was pursuing his MBA at Wharton and Donald Trump Jr. was an undergraduate. The 'marriage' between the Trump brand and Tribeca was facilitated by a mutual mentor at Wharton. Mehta recalls the advice he received from Trump when setting up Tribeca “Do it like I did. Don’t do too many projects but whatever you do make sure it is a trophy.”
Tribeca, named after Mehta’s favorite neighborhood in New York City, has been instrumental in bringing New York luxury to India. The first deal between Mehta and Trump was signed on the back of a cocktail napkin in New York, almost 13-14 years ago.
Exciting New Projects on the Horizon
India is set to benefit further from Donald Trump’s win in the US elections, as Tribeca has finalized six new deals with the Trump brand, totaling 8 million square feet. These projects, with a sale potential of over ₹15,000 crore, are expected to be located in Pune, Gurugram, Noida, Mumbai, Hyderabad, and Bengaluru. Mehta emphasizes that the new projects have been carefully selected to push the boundaries of luxury and further solidify Tribeca’s position as India’s leading trophy property developer.
Project Details
Two of the new deals will be with repeat partners, and at least four deals are expected to be announced by early December. These projects will be a mix of full stack and development management models, with each project involving local partners—developers as well as landowners. In cities where Trump Towers already exist, the second version of these properties may be called Trump World Towers.
One of the six new properties will be a large office development in Pune, the first Trump office project in India. This project is expected to be announced in December and launched in Q1-Q2 next year. Four projects are expected to be announced in December and launched in late Q1 or early Q2 of 2025. One of the six projects is a golf and villas project.
Existing Trump Properties in India
Tribeca has already brought four Trump properties to India, including the Trump Tower in Mumbai (licensed to Lodha), the Trump Tower in Pune (licensed to Panchshil Realty), the Trump Tower in Gurugram (with the M3M group), and the Trump Tower in Kolkata (with the Unimark group). Buyers of these luxury housing units include high net worth individuals (HNIs) and Bollywood stars, with 20% being non-resident Indians (NRIs).
Future Plans
Mehta also mentioned plans to bring both Donald Trump Jr. and Eric Trump to India next year, likely in the first half. “The plan is to bring both Donald Trump Jr. and Eric Trump to India next year…definitely in the first half,” he said.
With these new projects and the continued support from the Trump Organization, Tribeca Developers is poised to continue its success in the Indian luxury real estate market.
Frequently Asked Questions
Who is Kalpesh Mehta and what is his background?
Kalpesh Mehta is the founder of Tribeca Developers, the licensed partner of the Trump Organization in India. He has a strong educational background from Wharton and has been associated with the Trump family for over 15 years.
What advice did Donald Trump give to Kalpesh Mehta for the Indian real estate market?
Donald Trump advised Kalpesh Mehta to 'do it like I did. Don’t do too many projects but whatever you do make sure it is a trophy.'
How many new Trump Tower projects are planned in India and where will they be located?
Tribeca Developers has finalized six new Trump Tower projects totaling 8 million square feet. These projects will be located in Pune, Gurugram, Noida, Mumbai, Hyderabad, and Bengaluru.
What is the expected sale potential of the new Trump Tower projects in India?
The six new Trump Tower projects in India are expected to have a sale potential of over ₹15,000 crore.
Are there any plans to bring Donald Trump Jr. and Eric Trump to India?
Yes, Kalpesh Mehta has mentioned plans to bring both Donald Trump Jr. and Eric Trump to India next year, likely in the first half.
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