Potential US Republican presidential candidate Donald Trump recently spoke about how India is “doing great and nobody talks about it”.
“And I have big jobs going up in India,” Mr Trump had said. The big jobs Mr Trump was referring to are two luxury real estate projects in Mumbai and Pune.
A 75-storey super luxury housing project called Trump Tower is coming up in Worli. The tower is being built by the Lodha group. Pune is also getting a Trump Tower, which is being built by Panchshil Realty.
The Trump group signed a brand licensing agreement with the Lodha Group in Mumbai and Panchsil Realty in Pune around three years ago to construct the luxury skyscrapers.
The sales pitch includes a promise of “a host of exclusive lifestyle privileges, including a 24-hour Resident Manager and white-glove services, access to global Trump luxury properties and for the first time in India — a fractional membership to private jet service exclusively for Trump residents.”
Trump Tower Pune will be the tallest residential building in that city. The project is spread on a 2.5-acre site with 44 luxurious condominiums across two towers of 22 storeys each.
Each floor houses one spacious apartment of approximately 6,000 sq ft with five bedrooms and an exclusive home theatre room.
According to the company, it will have an “exclusive range of carefully selected lifestyle amenities and services including fitness and recreational options, concierge service, pick-up and drop laundry service, and for the first time, an exclusive art gallery.”
There will be a dedicated level for world-class leisure facilities such as a John Abraham fitness centre, yoga room, jogging track, kids’ play area, swimming pools, library, business centre and game rooms.
“These projects are for the high-end luxury market and they do not represent the market at large,” said Pankaj Kapoor, managing director of real estate research firm Liases Foras.
“Also, it is not that only because it is named Trump Towers, the companies are gaining from it in terms of sales. It is mainly the location and facilities which matter to the luxury market as well as the affordable housing market,” he further added.
