Tribeca Developers is the exclusive licensee of Trump-branded properties in the country
By Vishnu Rageev RJan 08, 2025
INDIA IS SET to have the most Trump Towers outside the U.S., with 10 projects planned for completion in the next six years, according to a recent media report. Tribeca Developers, the exclusive licensee of Trump-branded properties in India, plans additional launches, including residential, office and golf course properties, expected to generate approximately $1.75 billion in sales.
Tribeca Developers, founded in 2012 by Kalpesh Mehta, is advised exclusively by Donald Trump Jr., executive vice president of The Trump Organization.
The number of Trump Towers in India will grow from four all-residential high-rises in Mumbai, Pune, Gurgaon and Kolkata to 10 in six years, with new projects planned for Noida, Hyderabad, Bengaluru, Mumbai, Gurgaon and Pune. Mehta expects further growth following Trump’s election victory, the Times of India reported.
“I did my MBA at Wharton, where the Trump family, including President Trump, attended,” Mehta said. “A professor there connected me with Donald Trump Jr. We met at a bar in New York 13 to 14 years ago, and on the back of a cocktail napkin, we made our initial plans, which eventually became a reality.”
The Trump real estate business operates like a management contract hotel, where the Indian partner invests in the infrastructure, and the Trump Organisation provides branding, service standards, and global reach. Tribeca Developers previously licensed the Trump brand to Lodha Group for a Mumbai project and to Panchshil Realty for one in Pune.
“President Trump’s advice when we tied up, and since then, has been: ‘We don’t want to do too many projects, but whatever we do should be the best in class,’” Mehta told the Times.
In 2014, when the two companies launched Trump Tower Mumbai, Donald Trump visited India.
“This was shortly after Narendra Modi won the 2014 general election,” Mehta said. “He discussed India during his first trip to the country, and the main topic at that time was Modi. Since then, he has been very fond of our prime minister. The President has always believed in India’s potential, but he became more bullish after Modi became prime minister.”
Mehta said India will have the most Trump properties outside the U.S.
“The four Trump Towers, one each in Mumbai, Pune, Gurgaon and Kolkata, have a combined area of 3 million square feet, with about 800 residences priced between $699,906 and $2.9 million each, and a total sale value of approximately $875 million,” he said. “The six more coming up in the next six years will have a combined floor area of 8 million square feet and a total sale value of approximately $1.75 billion.”
Pune, which already has a Trump Tower, will get another Trump complex with an office block. A Trump golf course and villas will be built in another city.
The projects in Mumbai, Pune and Gurgaon follow a full-stack development model, where the company handles all aspects, including capital investment and construction. In other cities, it adopts a partial-stack model, partnering with local developers to focus on branding, design, sales, and marketing, without direct involvement in capital or construction.
Trump recently joined Tesla CEO Elon Musk in backing the H-1B visa program, which enables U.S. companies to hire skilled foreign workers, despite opposition within his party.
Luxury hotel demand exceeds supply in India due to entry barriers, JM Financial reported.
Land, regulation, zoning, costs and long gestation hinder expansion.
Luxury room demand is projected to grow 10.6 percent CAGR from fiscal 2024–2028.
THE LUXURY HOTEL sector in India faces strong demand, but supply is constrained by high entry barriers, according to a JM Financial study. Land availability, regulations, zoning laws, capital costs and long gestation periods hinder expansion.
Demand for luxury hotel rooms is rising, driven by higher incomes and a shift toward premium experiences, boosting ADR and occupancy, Economic Times reported, citing the study. Luxury rooms demand is projected to grow at a CAGR of 10.6 percent between fiscal 2024 and fiscal 2028, while supply is expected to rise 5.9 percent over the same period.
Upscale and upper-upscale segments accounted for 34 percent of properties signed in 2024, up from 26 percent in 2023, HVS Anarock reported, according to ET. The luxury segment rose to 9 percent, nearly doubling its share from 5 percent last year.
Higher incomes, a demand-supply gap, shifting consumer preferences and limited luxury hotel inventory drove ARR growth and occupancy in the luxury segment from fiscal 2014 to fiscal 2024, the report said.
India’s hospitality industry had about 3.4 million keys as of March 31, 2024, the study said.
The organized sector—branded hotels, aggregators and quality independent hotels—accounted for 11 percent or about 375,000 keys. Of this, branded hotels made up 45 percent or about 170,000 keys, while the luxury segment comprised 17 percent of the branded market or about 29,000 keys.
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