Tribeca Developers, a luxury real estate firm, is gearing up for a major expansion in India, with plans to develop up to five new Trump Tower projects. Kalpesh Mehta, founder of Tribeca Developers, shared in an interview with Moneycontrol that the company aims to finalize these deals by September. As the exclusive licensor of Trump Towers in India, Tribeca is also directly developing properties under the Trump brand, to which former U.S. President Donald Trump lends his name.
New Trump Tower Projects in Key Indian Cities
Tribeca is targeting major Indian cities for its upcoming Trump Tower projects. Mehta mentioned that the likely locations for these developments include Pune, Gurugram, Hyderabad, and Mumbai. The company is working under a tight timeline, aiming to seal the deals before the U.S. election-related deadlines, which could impact the signing of new agreements.
Currently, Tribeca is developing Trump Tower-branded luxury residential projects in Gurugram and Kolkata. Previously, the Trump brand was licensed in India to Panchshil Realty and Macrotech Developers, known for the Lodha brand, which developed Trump Towers in Pune and Mumbai, respectively.
Continued Strength of the Trump Brand in India
Despite various controversies and legal issues surrounding Donald Trump, Mehta noted that the Trump brand remains strong in India, continuing to command a premium in the real estate market. This robust demand is evident as Tribeca successfully sold out the first tower of its new luxury housing development, The Edge, in Parel, Mumbai. Developed in collaboration with the Tejukaya group, The Edge project aligns with Maharashtra’s cluster redevelopment policy, providing rehabilitation units for tenants of former chawl-style tenements and offering the new development as a free-sale component.
Future Prospects and Financial Outlook
Tribeca’s ongoing projects reflect the company’s bullish outlook on the Indian luxury real estate market. Mehta revealed that Tribeca has already achieved bookings worth ₹1,300 crore in the current financial year and expects to reach ₹2,000 crore by the end of FY25. The company’s business development guidance stands at ₹6,000 crore to ₹7,000 crore for the year, with Trump Tower projects and other Tribeca initiatives sharing a 50% split.
Looking ahead, Tribeca is exploring opportunities in the capital markets, aiming for a public listing within the next four years. Mehta emphasized the company’s preference for equity investment over debt, viewing it as a less risky strategy to fuel its ambitious growth plans.
