Reliance's Real Estate Unit Pays Trump $10 Million for Mumbai Project

Reliance 4IR Realty Development, a unit of a company controlled by Mukesh Ambani, has paid a $10 million “development fee” to the Trump Organization, which is the private real estate company owned by US President Donald Trump, for licensing the Trump brand name for a real estate project in Mumbai, according to documents released by the US government.

However, it’s not clear for which specific project in Mumbai, Reliance has paid the development fee to the Trump Organization, nor has the Reliance spokesperson confirmed or denied the development.

The document that has been released by the United States Office of Government Ethics on June 13, shows that Reliance 41R Realty Development Ltd, a subsidiary of Reliance Industries Ltd, made the license fee payment to the Trump Organization. This fee is usually paid by third parties to acquire the right to use the ‘Trump’ brand name for real estate development.

The document, namely the US President Donald Trump’s annual financial disclosure report, is part of the mandatory financial disclosure which is submitted by all US Presidents to the US government. This report provides a detailed account of financial transactions and interests that could influence the President's official duties.

The development has come a month after Reliance Industries Chairman Mukesh Ambani met US President Donald Trump at the Lusail Palace in Doha, Qatar, on Wednesday, May 14, at a state dinner hosted by the Emir of Qatar Sheikh Tamim bin Hamad Al-Thani for President Donald Trump. No formal business or investment discussions were scheduled at the event, which was primarily a diplomatic and ceremonial affair, it was reported.

Reliance Industries has never focused on real estate development, though it has taken on large projects, including the redevelopment of a more than 4,000-acre area in Mumbai. The company has also executed residential development for its own use for industrial parks or housing for employees at the plant location.

According to the US President Donald Trump’s annual financial disclosure report, investors planning Trump-branded projects in Vietnam, Dubai, and Saudi Arabia, and elsewhere paid the Trump Organization $44.6 million in foreign licensing and development fees in 2024. This significant sum highlights the global reach and influence of the Trump brand in the real estate sector.