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Time of India
14-05-2025
- Business
- Time of India
Trump Towers in Gurgaon sold out on day 1, nets Rs 3,250 crore in allotments
Credit: ANI NEW DELHI: The second Trump Towers development in Gurgaon, currently under construction, has been entirely sold out, the developers — Smartworld Developers and Tribeca Developers — announced on Tuesday, news agency ANI reported. According to the companies, Trump Residences Gurgaon saw a record-breaking response on launch day, with total allotments amounting to Rs 3,250 crore. Even the project's most exclusive penthouses, priced at Rs 125 crore, were fully booked. The 298 ultra-luxury homes in the development, priced between Rs 8 crore and Rs 15 crore, were absorbed in a short span, signaling rising demand for high-end, branded residences in India. A joint collaboration between Smartworld, Tribeca, and The Trump Organization, the project includes two soaring 51-storey towers. While Smartworld is in charge of development, construction, and customer experience, Tribeca — the Trump brand's exclusive representative in India — is overseeing design, marketing, sales, and quality assurance. This marks the second residential Trump-branded project in North India. The developers added that the first Trump Towers Delhi NCR, which launched in Gurgaon in 2018, is also completely sold and is scheduled for delivery later this month. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Cinnamon: The Greatest Enemy of Blood Sugar Magazine Glyco Learn More Undo Speaking on the overwhelming demand, Pankaj Bansal, Founder of Smartworld Developers, said, 'The phenomenal response to Trump Residences is a testament to the aspiration for world-class living in India. Smartworld is proud to lead the delivery of this landmark project, and we thank our buyers for their trust in our vision.' Kalpesh Mehta, Founder of Tribeca Developers, added, 'Trump Residences Gurgaon is not just a real estate project – it's a landmark moment for India's luxury market. Selling Rs 3,250 crore on Day 1 places this among the biggest luxury deals the country has ever seen.' Currently, there are five Trump-branded luxury residential towers in India — located in Mumbai, Pune, two in Gurgaon, and one in Kolkata. Tribeca, led by Kalpesh Mehta, has partnered with The Trump Organization in India for over 13 years. Mehta, who shares close ties with the Trump family, studied at the prestigious Wharton School along with Donald Trump Jr. Either Donald Trump Jr. or Eric Trump is expected to visit India in the coming months to assess progress on the Gurgaon project, Mehta said recently at the project launch. Trump Jr., the son of former US President Donald Trump, last visited India in 2018 and again in 2022. Confirming the upcoming visit, Pankaj Bansal said, 'We are working on the schedule, and hopefully within two months, Donald Trump Jr. or Eric Trump will be coming to India to see the Trump Tower in Gurgaon.'
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Business Standard
13-05-2025
- Business
- Business Standard
Rs 15 cr penthouses: All 298 Trump Tower Gurugram apartments sold on day 1
If you thought India's high-end real estate market was cooling, think again. All 298 ultra-luxury units at Trump Residences Gurugram, priced between Rs 8 crore and Rs 15 crore, were sold out on launch day, clocking Rs 3,250 crore in bookings, including Rs 125 crore worth of penthouses. Located in Sector 69, Gurugram, the development spans two 51-storey towers and has been launched by Smartworld Developers and Tribeca, in collaboration with The Trump Organization. Whether you're in the market for a luxury home or just following real estate as a long-term investor, this launch is a clear signal of rising demand for branded, ultra-premium homes in India's top metros—particularly Delhi-NCR, Mumbai, and Pune. Pankaj Bansal, the founder of Smartworld Developers, said the phenomenal response was a testament to the aspiration for world-class living in India. 'Smartworld is proud to lead the delivery of this landmark project, and we thank our buyers for their trust in our vision,' he added. Trump Residences Gurgaon comprises two 51-storey towers and offers what developers described as the most 'prestigious addresses in the country.' While Smartworld will oversee development, construction, and customer service of the project, Tribeca will lead design, marketing, sales, and quality control, the two companies said in a statement. What's special about Trump Residences Gurugram? Location: Sector 69, a fast-developing zone with proximity to Golf Course Extension Road Price Range: ₹8–15 crore per unit. The Gurugram Trump Towers project is being launched at Rs 27,000 per square feet. Design & Construction: Led by Smartworld and Tribeca Features: Bespoke interiors, private elevators, luxury clubhouses, curated concierge services Brand Appeal: The 'Trump' name lends a premium that global buyers associate with exclusivity It will have a total saleable area of 12 lakh square feet. It will feature all-glass façade, double-height living rooms in select units, floor-to-ceiling windows, private elevators, and a shared rooftop offering views of the Aravallis. This second Trump Tower in Gurugram will feature India's first aquarium bar, a massive aquarium integrated into a bar and restaurant. This is the second Trump-branded residential development in North India. In 2018, Trump Towers Delhi NCR, launched in Gurugram, is fully sold out and is set for delivery later this month, the statement read. The Gurugram launch also comes just months after Donald Trump's return to the U.S. presidency, adding a layer of global visibility to the brand's Indian presence. 'The success of the Trump Residences shows that India's wealthiest buyers are not just investing in square footage—they're buying into global branding, exclusivity, and a lifestyle experience,' says a Delhi-based luxury real estate consultant. What's driving this boom? Rise of HNIs and UHNIs India is now home to over 13 lakh millionaires, and a growing number are looking for internationally benchmarked homes in familiar metros. Branded residences are the new status symbol From DLF to Trump, branded names in real estate offer premium finishes, hotel-style amenities, and elite communities. Wealth diversification In uncertain markets, high-net-worth investors are putting money into tangible, inflation-hedged assets like ultra-luxury property. 'Branded residences appeal not just emotionally but financially,' says Kalpesh Mehta, founder of Tribeca. 'They tend to hold value better and often appreciate faster in up-market localities due to their limited supply and high demand.' Trump Towers in India This marks the second Trump-branded residential project in Gurugram and the sixth in India. Of the six announced so far, four — in Pune, Mumbai, Kolkata and Gurugram — have already been completed. India now stands as the largest market for the Trump brand outside the US. Earlier this year, Smartworld and Tribeca committed ₹2,200 crore in investment for the Gurugram project. The sell-out of Trump Residences Gurugram isn't just about glamour—it's a wake-up call for anyone watching India's luxury housing market. It tells us:
Hindustan Times
13-05-2025
- Business
- Hindustan Times
Trump Residences in Gurugram sell out on launch day, record ₹3,250 crore in allotments
Trump Residences in Gurugram, developed by Smartworld Developers and Tribeca Developers, sold out on launch day, recording ₹3,250 crore in allotments. The project's four ultra-premium penthouses, valued at ₹125 crore, were also fully allotted, Smartworld Developers said in a statement on May 13. The project marks the second Trump-branded residential development in Gurugram and the sixth in India, making Gurugram the only city outside New York to host two Trump Towers. Located in Sector 69, the Trump Residences will feature two 51-story towers with 298 luxury residences, spanning a total saleable area of 12 lakh sq. ft. The Trump Organization's India partner, Tribeca Developers, along with Gurgaon-based Smartworld Developers, last month announced the launch of a second ultra-luxury Trump-branded residential project in Gurugram. Priced between ₹8 crore and ₹15 crore per residence, the development's 298 homes were absorbed on the day of the launch showcasing demand for branded, ultra-luxury living in India. This collaboration between Smartworld, Tribeca, and The Trump Organization comprises two 51-storey towers. Smartworld will oversee development, construction, and customer service, while Tribeca leads design, marketing, sales, and quality control. 'The phenomenal response to Trump Residences is a testament to the aspiration for world-class living in India. Smartworld is proud to lead the delivery of this landmark project, and we thank our buyers for their trust in our vision,' said Pankaj Bansal, founder of Smartworld Developers. Also Read: Second Trump Tower launched in Gurugram, a first for any city outside New York 'Trump Residences Gurugram is not just a real estate project - it's a landmark moment for India's luxury market. Selling ₹3,250 crore on Day 1 places this among the biggest luxury deals the country has ever seen. This launch proves the unmatched magnetic pull of the Trump brand and how deeply it resonates with India's most discerning buyers. We are proud to have raised the bar once again, delivering iconic, globally benchmarked luxury alongside Smartworld and The Trump Organization,' said Kalpesh Mehta, founder of Tribeca Developers. This project marks the second Trump-branded residential development in North India. The first, Trump Towers Delhi NCR, launched in 2018 in Gurugram, is also fully sold out and set for delivery later this month, the company said in a statement. Smartworld in FY24–25 reported sales of ₹6,400 crore, a 60% year-on-year increase, with over 1300 residential units sold spanning 3.5 million sq. ft. The company has also commenced the delivery of its inaugural flagship developments - Smartworld Orchard and Smartworld Gems. Of the 5.5 million sq. ft. planned across both projects, approximately 2 million sq. ft. has already been delivered, with the remaining construction progressing on schedule. Smartworld has several high-end projects in Gurugram such as Smartworld Sky Arc in Sector 69, Smartworld The Edition in Sector 66, and Smartworld One DXP on Dwarka Expressway in Sector 113, Gurugram. Tribeca Developers has a portfolio of 13 projects spanning 14 million square feet and valued at more than ₹16,000 crore, the company is rapidly expanding, projecting ₹2,000 crore in sales for FY '25 and targeting ₹3,500 crore in FY '26. Tribeca has also built the world's largest rooftop terrace, nearly 3 acres in size, and is the largest developer of branded residences in India. It also holds the distinction of being the largest developer of Trump-branded properties globally, second only to the Trump Organization itself.
