Tribeca taking up luxury realty projects across metros
The Trump Organizations India partner, Tribeca, has planned to launch luxury real estate projects across Mumbai, Noida, Bengaluru and Hyderabad this year under its banner. With the focus on work-from-home and second homes, it is also considering launching luxury villa projects in Chandigarh, Sohna, and between Mumbai and Pune. Founder of Tribeca, Kalpesh Mehta, informed that it will continue to ramp up its Trump portfolio in India this year as the Indian luxury market has made a respectable comeback during the pandemic. The company is ready to do one more Trump project in Mumbai and one each in Noida, Bengaluru and Hyderabad. Tribeca is planning to launch the Trump villas in the first quarter of 2022. The big trend in India is for a weekend or second homes – large homes outside cities. The market in India has not yet seen luxury villa developments on a large scale but there is a market for the same. Of its current development portfolio of 4.5 m sq. ft and a total sale value of over ₹5,000 crore, Tribeca does not own the land on any of the projects. The secret to its business model is that its investments in any project are low. Its projects in India will be either be joint ventures or be under the joint development agreement or development management models and the apartments would be priced around ₹3 - ₹6 crore.
📅Published on:
19 March 2021
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