US President Donald Trump\u2019s real estate firm is planning its first commercial tower in the western Indian city of Pune as it seeks to ride a boom in demand for office space in the world\u2019s most populous nation.<\/p>\n\n\n\n
Tribeca Developers, the local licensed partner of Trump Organization, together with real estate firm Kundan Spaces on Wednesday said they will develop Trump World Center Pune, a 4.3 acre-project that is expected to clock over Rs 2,500 crore ($289 million) in sales.<\/p>\n\n\n\n
The move comes as firms leased a record 77.2 million square feet of office space across seven major Indian cities last year. This contrasts with Trump\u2019s home market where the supply of commercial buildings is expected to fall sharply in 2025 because of weak demand. The office foray also coincides with signs of a slowdown in demand for luxury homes in India amid a stock market rout.<\/p>\n\n\n\n
Outside of the US, India is the biggest market for Trump\u2019s real estate business with four residential towers in key cities, including Mumbai. \u201cTrump World Center Pune will set a new standard of sophistication and excellence, reflecting the same commitment to quality that defines Trump properties across the globe,\u201d said Eric Trump, Executive Vice President of Trump Organization.<\/p>\n\n\n\n
The project will have two glass towers with more than 27 floors and 1.6 million square feet of office space, the release said. One tower will offer for-sale offices, and the other will rent out space. The project plans to offer amenities like creches, salons, auditoriums, gyms, sports facilities, spas, restaurants, and grocery stores.<\/p>\n","protected":false},"excerpt":{"rendered":"
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