Tribeca, Ira Realty To Invest ₹2,000 Cr To Build Trump-Branded Housing Project In Hyderabad

The Trump Towers project, located at Golden Mile Road in Kokapet, comprises two 65-storey buildings with 450 apartments, including 16 penthouses. The total developable area will be 22 lakh sq ft.

Mumbai-based Tribeca Developer is the official representative of the Trump brand in India.

This is the eighth Trump-branded project in India and the first in South India.

Out of the eight Trump-branded projects announced in India so far, four are completed in Pune, Mumbai, Kolkata and Gurugram.

Kalpesh Mehta, founder of Tribeca Developers, said the company brought the Trump brand to India in 2014.

"Since then we have launched projects in Mumbai, Pune, Gurugram, Noida and Kolkata, but we have not yet penetrated South India, and that changes today. Hyderabad has been on our radar for a very long time." Asked about investment, Mehta said the company would invest around ₹1,700-1,800 crore on this project, excluding the land cost. The land value will be around ₹250 crore at the current rate.

On sales realisation, he said it would be between ₹3,500 crore and ₹4,200 crore.

The price of an apartment starts from ₹5 crore.

Mehta said the company has witnessed encouraging response with eight penthouses already sold for around ₹250 crore. One penthouse was sold for ₹62 crore.

Mehta claimed the towers would be the tallest in South India with a height of 240 metres. This will also be the tallest Trump tower in India.

About any possible impact on sales due to current India-US relations, he said, "Trump has been in India much before the politics and has stayed throughout, and there we've seen no impact of anything beyond what the product stands for and what the brand stands for".

"We have seen no impact of anything really," he added.

Eric Trump, Executive Vice President of The Trump Organization, said: "India continues to be one of the world's most exciting luxury real estate markets, and we are delighted to bring the Trump brand to Hyderabad for the first time. We are excited to collaborate once again with Tribeca".

He noted that Hyderabad is one of India's most dynamic and rapidly growing cities.

"I am confident that Trump Towers Hyderabad will become one of its most iconic addresses," said Eric Trump.

Narsi Reddy, Founder and Managing Director of Ira Realty, said, "We assembled this land over many years...we wanted a brand that needs no introduction anywhere in the world, and a developer who has proven, in city after city in India, that it can deliver at that standard".

Trump Organization is one of the leading real estate and hospitality groups in the world, with over 20 iconic golf and resort properties.

Tribeca Developers has 13 projects covering 14 million square feet. It is the largest developer of Trump-branded properties in the world.

Founded in 2019, Ira Realty is a real estate developer focused on luxury residential, commercial and township developments.

The company has developed 15 projects in Hyderabad, delivered over 5 million sq ft, and currently has more than 20 million sq ft under development.