A second luxury Trump Towers tower will be built in Gurgaon, India
Kyiv • UNN
The Trump Towers project is expanding in India. A second 51-story Trump Residences Gurgaon tower with 298 apartments will be built in Gurgaon, bringing in 35 billion rupees in revenue.
The Trump Towers project is expanding in India. The construction of the second Trump Tower in Gurgaon has been announced. The project involves significant investments and aims to generate over 30 billion rupees in revenue.
UNN reports with reference to The Economic Times and Bloomberg.
Details
Trump Organization has announced a residential project in India, in the city of Gurgaon: it is about building the second NCR Trump Tower. It is planned that Gurgaon will be the only city after New York to have two Trump Towers residential towers.
In total, the new residential project Trump Residences Gurgaon will consist of two 51-story towers with 298 apartments. The project will be completed in 5 years and is expected to generate 35 billion rupees in sales revenue.
The tower will be built by North Indian companies Smartworld Developers and Tribeca Developers, who are the official representatives of projects under the Donald Trump brand in India.
Comment
The fact that we are expanding in this wonderful city speaks to the exceptional partnership we have built and the tremendous confidence the Trump Organization has in the future of Gurgaon
According to a report by real estate consultant CBRE, sales of luxury housing in India's seven largest cities rose 28% in the first quarter of this year compared to the same period last year.
Reference
Trump handed over management of his company to his sons and transferred his assets to a trust. But experts are closely studying how foreign funds are coming to the Trump Organization - in the United States, the question is being raised as to whether such relations may influence the political decisions of the Republican president's administration.
Currently, Trump's sons' company is seeking to take advantage of the high demand for luxury homes in the world's most populous country. Interestingly, the project's approval comes amid US-India negotiations on a bilateral trade agreement. India was recently subject to corresponding customs duties, but half as much as those levied on some other neighboring countries.
Recall
Asian countries are responding to US tariffs, protecting their financial interests. Japan is negotiating, South Korea is supporting automakers, India is cutting rates.
