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India.com
3 days ago
- Business
- India.com
Donald Trump calls India a 'Dead Economy' but runs his family company here, earning crores from the Real Estate Business
New Delhi: Escalating his tariff offensive against India, US President Donald Trump on Wednesday slapped an additional 25 per cent duty–doubling it to 50 per cent–on Indian goods over New Delhi's continued imports of Russian oil. The move that is likely to hit sectors such as textiles, marine and leather exports hard was slammed by India as 'unfair, unjustified and unreasonable'. With this action singling out New Delhi for the Russian oil imports, India will attract the highest US tariff of 50 per cent along with Brazil. It is important to note that the US President Donald Trump often refers to India as a 'dead economy.' He has expressed strong displeasure over India's trade relations with Russia and China. However, for his family's company, The Trump Organization, India has become its largest market outside the United States. The Trump Organization has been consistently expanding its operations in India's real estate market. Since Trump first became President of the United States, his company's real estate business in India has tripled. Citing records, the Indian Express has reported that The Trump Organization partnered with several major builders in India and earned ₹175 crore from seven projects in Mumbai, Pune, Kolkata, and Gurugram. 'It's not a punishment for India, but it will also burden American consumers' Ever since Trump became the US President for the second time on November 5, 2024, his company, in collaboration with its Indian partner Tribeca Developers, has launched six new projects across Gurugram, Pune, Hyderabad, Mumbai, Noida, and Bengaluru. These projects collectively span 8 million square feet of land. Out of these, three projects — in Pune, Gurugram, and Hyderabad — have already been initiated this year. Work is currently underway on 4.3 million square feet under these projects. Business to Expand to 11 Million Square Feet In 2012, The Trump Organization announced its first project in India, and by the time these projects are completed, Trump's total real estate business in India will grow from 3 million to 11 million square feet. According to Tribeca Developers, these projects could be sold for at least ₹15,000 crore. Tribeca Developers, led by Kalpesh Mehta, is the official partner of The Trump Organization in India. The Company Doesn't Invest Money Directly An interesting fact is that The Trump Organization does not invest money directly in construction projects. It merely lends its brand name and, in return, charges a licensing fee or development fee, or takes a 3% to 5% share of the total project sales. Such properties are luxury developments, and because they carry the Trump name, their market value tends to be significantly higher. Who is working on these projects in India? In India, major companies working on these projects include Mukesh Ambani's Reliance Industries Limited (RIL), Lodha Group, M3M Group, Panchshil Realty, IRA Infra, and Unimark. For this report, The Indian Express reached out to Reliance Group, Tribeca Developers, M3M Group, Unimark Group, Panchshil Group, and The Trump Organization, but none of them responded. Lodha Group stated that it currently has no plans for any Trump-branded projects.
Indian Express
4 days ago
- Business
- Indian Express
Since first term, Trump real-estate footprint in India expands 3-fold to 11 million sq feet in 6 cities
US President Donald Trump may have called India a 'dead' economy for which he couldn't care less, but for his family-controlled The Trump Organization, India is now the largest market outside the US over the last 10 years. Until last year, it forged multiple tie-ups with top builders and earned at least Rs 175 crore from seven projects in Mumbai, Pune, Kolkata and Gurugram, as per available records. Over the last eight months, Brand Trump has been on an aggressive expansion drive in India. Soon after his election as the 47th President of the United States of America on November 5, 2024, The Trump Organization, along with its Indian partner Tribeca Developers, announced at least six projects in Gurugram, Pune, Hyderabad, Mumbai, Noida and Bengaluru, adding up to 8 million sq feet of realty development. The Trump Organization's earnings from these are yet to be disclosed, but experts said, its partnerships with the biggest builders, not only allows the Trump enterprise to tap into the most lucrative markets in the world's fastest growing economy, but also brings it continuous revenue stream with no financial risk. Of these, three projects totalling around 4.3 million sq ft — more than half of Brand Trump's target — have already been launched in Pune, Gurugram and Hyderabad this year. From the first project announced in India in 2012, Brand Trump's footprint is set to see, by the time these projects are complete, a near four-fold expansion to 11 million square feet, a sharp jump from approximately 3 million sq ft developed until last year. These new ventures bring a sales potential of an estimated at least Rs 15,000 crore, Tribeca shared during the Pune launch of its first commercial development project in March this year. The Trump Organization does not invest directly in construction. It lends its brand for upfront licence fees, or development fees, which could be construction-linked or, in most cases, a 3–5 per cent share in project sales. The properties are typically billed as luxury developments, with flats commanding a premium due to the President's name being attached to them. Those executing the projects in India include big corporates like Mukesh Ambani's Reliance Industries Ltd (RIL) and established real estate companies such as the Lodha Group, M3M Group, Panchshil Realty, IRA Infra, and Unimark. Kalpesh Mehta-led Tribeca Developers is the official partner of The Trump Organization in India. The Indian Express reached out to the Reliance Group, Tribeca Developers, M3M Group, Unimark Group and Panchshil Group as well as The Trump Organization for this report, but did not receive any comment. The Lodha Group said it is not planning any Trump-branded project at the moment. The Trump Organization, headquartered in NYC, is a family-controlled conglomerate and functions as the main holding company for Donald J. Trump's various business ventures through numerous subsidiaries spanning various industries, including real estate and hospitality. Founded and majority-held by Donald J. Trump, the organisation has his sons Donald J. Trump Jr. and Eric Trump as executive vice-presidents. Until 2017, Donald J. Trump functioned as the president and CEO of The Trump Organization. Upon being elected the President of the USA in 2017, he 'stepped down from day-to-day management' and handed over the operational responsibilities to his sons while retaining the majority-ownership through a trust. Since 2021, he has been described as the chairman of the organisation. Days after he was elected President for the second time, The Trump Organization floated on November 14, 2024, four companies to license the Trump brand name in India. These are: DT Marks Noida 94 LLC, DT Marks Gurgaon 111 LLC, DT Marks Gurgaon 69 LLC, and DT Marks Pune Mundhwa LLC. A month prior to the US elections, DT Marks Hyderabad LLC was incorporated on October 16. The Pune project, announced in March this year, is the first Trump-branded commercial project in the city. In a statement during the launch, Eric Trump, Executive Vice President, The Trump Organization, said, 'India has embraced the Trump brand with remarkable enthusiasm'. In 2024, The Trump Organization received at least $12 million from India, as per his annual financial disclosure report. A bulk of this, $10 million, was paid as 'development fees' by Reliance 4IR Realty, a subsidiary of RIL. Tribeca Developers, M3M subsidiaries, the Lodha Group, Unimark and the RDB Group, paid about $2.2 million as licence and royalty fees for the properties in Gurugram, Mumbai and Kolkata, public financial disclosures by Donald Trump show. Around the time Trump commenced his first tenure as the President in 2017, The Trump Organization entered two realty projects in Kolkata and Gurugram. Earlier, Trump lent his brand to a project each in Pune (2012) and Mumbai (2013). Between 2012 and 2019, The Trump Organization earned up to $11.3 million in fees and royalties from its four India projects — $6 million through DT Marks Worli LLC and $1 million each through DT Marks Pune LLC, DT Tower Gurgaon LLC and DT Tower Kolkata LLC by 2017, according to various tax declarations. In the first two years of his presidency, it had earned $2.3 million, said the New York Times in a report on September 27, 2020. Of the 13 Trump-branded projects in India, two have been completed, two are nearing completion, and three are in early stages of development, three are awaiting launch, two are stalled, and one by Reliance 4IR is yet to be announced. Earlier, Donald Trump Jr, the other Executive Vice President of The Trump Organization, identified India as 'the biggest push for our organization' on the website of Tribeca Developers, its licensed partner in India. Tribeca is founded by Mehta, an alumnus of University of Pennsylvania's Wharton School, who in an interview to Hindustan Times last November, said he was introduced to Trump Jr (also from Wharton) by a professor who made the deal happen.
Time of India
17-06-2025
- Business
- Time of India
Tier-II slowdown: New housing supply dips 35% in Q4, developers shift focus to premium homes amid funding squeeze
New housing launches in India's top 15 tier-II cities declined sharply by 35% in the January–March quarter, as developers recalibrated their strategies amid rising costs and selective demand, real estate consultancy PropEquity said on Monday. Tired of too many ads? go ad free now The number of new residential units dropped to 30,155 from 45,901 a year ago, marking a significant supply contraction across key regional markets. 'The decline in supply is a result of cautious approach and shifting priorities by developers. Financially robust players are now focusing on premium housing to improve profit margins,' said Samir Jasuja, Founder and CEO of PropEquity, as quoted PTI. Among the cities tracked, Ahmedabad saw the largest absolute volume drop — down 35% to 11,096 units from 17,108 units a year earlier. Surat recorded a 39% fall, while Jaipur saw a 55% plunge. Bhubaneshwar and Trivandrum experienced some of the steepest declines, dropping 72% and 71% respectively. Other cities with major cuts in supply included: Lucknow: down 55% to 1,026 units Mangalore: down 64% to 269 units Bhopal: down 51% to 365 units Kochi: down 49% to 225 units Nagpur: down 28% to 1,036 units Vadodara: down 23% to 2,149 units Goa: down 24% to 444 units Gandhinagar: down 10% to 4,356 units Nashik: down 2% to 2,466 units Coimbatore was the only city to buck the trend, with new supply more than doubling to 1,077 units, up from 475 last year. Rajat Khandelwal, Group CEO of Tribeca Developers, attributed the shift to 'rising input costs, tighter funding, and selective demand in these markets,' adding that developers were becoming more deliberate about launch pipelines. Kirthi Chilukuri, Founder and MD of Stonecraft Group, said the contraction signals a transformation phase. 'This marks a turning point that holds immense potential. We see it as an opportunity to pioneer sustainable, biophilic housing that aligns with modern living,' he said. Vijay Harsh Jha, Founder of VS Realtors, noted a shift in demand toward higher-end properties. 'Tier-II cities are moving toward premiumisation. Homes priced at Rs 1–2 crore are in demand, while those around Rs 50 lakh are seeing slower movement — a concern given the inflow of job-seekers in these cities,' he said. Despite the short-term contraction in supply, Jha said the broader real estate sentiment in tier-II cities remains strong. 'This is a temporary correction,' he added.
Mint
02-06-2025
- Business
- Mint
The Trump Organization has expanded globally since the 2024 election. See where.
President Trump pledged to bring business back to the U.S. His own company has been doing more business overseas than ever before. Since the November election, the Trump Organization, the family's flagship real-estate firm, and its partners have publicly announced 12 international projects including residential high-rises, hotels and golf courses—far outpacing the two overseas deals announced during his first administration. The Trump Organization released an ethics agreement in January barring the company from doing business directly with foreign governments. Yet several of the deals involve foreign governments, especially in the Middle East. The Trumps say there is a crucial distinction. The company isn't transacting directly with foreign governments. Rather, some of the Trump deals are joint ventures with companies that are doing business with foreign governments. The 12 developments were under contract before November, according to a Trump representative. Since Trump's re-election, however, company executives say international partners are more eager to do business because the Trump name is now associated with his victory. 'We're the hottest brand in the world right now," said Eric Trump, the president's son who is running the Trump Organization on a day-to-day basis. State-backed entities have also been involved in several recent Trump deals in the Gulf region, including a resort featuring luxury villas with private beach access in Qatar. The real-estate company is expanding beyond the property business, striking a $2 billion cryptocurrency deal with the United Arab Emirates state fund in May. 'I think everybody knows that these countries are giving money to Donald Trump because they think they'll get favorable treatment in exchange," said Sen. Chris Murphy, a Democrat from Connecticut and former chairman of the Senate Foreign Relations Middle East subcommittee. White House deputy press secretary Anna Kelly said, 'The President is working to secure good deals for the American people, not for himself." In the past six months, the Trump Organization ramped up its real-estate ventures in India, launching two projects with its longstanding partner, Tribeca Developers. Tribeca also announced plans for three more Trump-branded projects in the country. Tribeca Developers founder Kalpesh Mehta, who first met Donald Trump Jr. through a mutual Wharton professor, has maintained close ties with the Trump family since at least 2013, according to local media reports. He attended both of Donald Trump's inaugurations and dined with the family at Mar-a-Lago, including a private dinner this past January. Since November, Mehta has stated in local publications that demand for Trump properties has sharply increased across the country. In May, Tribeca and the Trump Organization announced a record-breaking over $300 million in sales after selling out a second Trump Residences Delhi on launch day. Neither Mehta nor Tribeca Developers responded to requests for comment. The Trump Organization's international expansion largely hinges on a licensing model: It collects fees for its brand and management services, rather than committing its own funds to the projects. Donald Trump's latest financial disclosure shows more than $9 million from six overseas licensing agreements between January 2023 and August 2024. Since the November election, the Trump Organization has unveiled twice as many deals. Donald Trump Jr. and Eric Trump have made at least nine overseas trips to a dozen countries since November—many tied to Trump Organization ventures—including a swing through Eastern Europe that Donald Jr. promoted as 'Trump Business Vision 2025." Along the way, he dined with prime ministers, spoke at cryptocurrency events, and touted to local media that the Trump Organization desired to explore new partnerships abroad. During Trump's first administration, by contrast, the company gave priority to existing operations, debt reduction and cash reserves. The lower profile overseas also avoided appearances of conflicts of interest, according to Donald Trump's 2023 deposition during his civil court battle with New York Attorney General Letitia James. Trump said he told his children: 'Don't do deals. We don't need deals…We have a lot of property. They're great properties. Run them." Eric Trump said in an interview in October that the company was reconsidering that approach because it wasn't given sufficient credit for its pullback in the first Trump administration. 'Should I stop all expansion? I don't know what the answer is. I tried to do everything right in 2016, and I got very little credit for it," he said of efforts to distance the newly elected president from the company. 'We still kind of got stomped on." Write to Brenna T. Smith at Peter Grant at and Daniel Kiss at
Indian Express
17-05-2025
- Business
- Indian Express
Trump Residences in Gurgaon: All 298 ultra-luxury units sold out on day 1, project sees sales worth Rs 3,250 crore
The demand for ultra-luxury housing in Delhi-National Capital Region (NCR) has taken new heights with all units in Trump-branded residential project in Gurgaon getting completely sold out on the first day of its launch, May 13. As many as 298 units priced between Rs 8 crore and Rs 15 crore, including four penthouses valued at Rs 125 crore, in Trump Residences on Southern Peripheral Road in Sector 69 were sold out, with the developers recording sales worth ₹3,250 crore. The project comprises two 51-storey towers, the construction of which is yet to begin. Trump Residences, the second such project under the brand name in North Inda, has been developed by Smartworld Developers in partnership with Tribeca Developers and The Trump Organisation. Smartworld is overseeing the construction and customer service for the development, while Tribeca is leading the design, sales, and quality control. Tribeca Developers has brought the licence to Trump-branded projects in India. The first project – Trump Towers Delhi NCR, also located in Gurgaon, was launched in 2018 and is expected to be delivered later this month. The Trump Towers is located in Sector 65, Gurgaon. '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,' Pankaj Bansal, founder of Smartworld Developers, said. 'Selling Rs 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,' Kalpesh Mehta, founder of Tribeca Developers, said. The Trump Organisation was founded in 1927 by Frederick C. Trump, Donald Trump's grandfather. It was later expanded significantly by Donald Trump, currently the President of the United States, who took control in the 1970s. In 2017, Trump handed over the reins of the company to his sons, Donald Trump Jr. and Eric Trump, who currently serve as Executive Vice Presidents in the company.
