Trump Towers to Debut in Hyderabad With Two 65-Storey Towers
The towers will rise about 800 feet and will be connected by a suspended sky bridge on the 28th floor.
Hyderabad: Tribeca Developers and Ira Realty on Monday announced that they would build Trump Towers would come up on Kokapet’s Golden Mile Road, with an investment of about Rs 2,000 crore. This is the eighth Trump-branded development announced in India and the first in south India.
The project will comprise two 65-storey towers with around 450 residences. The towers will rise about 800 feet and will be connected by a suspended sky bridge on the 28th floor. The bridge will house the Trump Club, a landscaped club floor spanning both towers. The project is expected to be completed in about four years
The developers said eight penthouses have seen deals worth around Rs 250 crore, including one priced at Rs 62 crore. The project will have about 22 lakh sq ft of developable area and will include 3.5BHK and 4BHK homes, double-height simplex residences and 16 penthouses. Apartment prices will range from Rs 5 crore to Rs 10 crore.
Kalpesh Mehta, founder of Tribeca Developers, said the company would invest Rs 1,700-1,800 crore, excluding land, while the land value is estimated at Rs 250 crore. He put the potential sales realisation at Rs 3,500-4,200 crore.
Tribeca, the Trump brand’s official representative in India, has previously developed projects in Mumbai, Pune, Gurugram, Noida and Kolkata. Three of the eight announced projects have been delivered, while the Kolkata project is nearing completion.
Mehta said the company had seen no impact on sales from India-US relations, noting that the Trump brand had been present in India well before the current political context.
Narsi Reddy, founder and managing director of Ira Realty, said the company had assembled the land over several years. “We wanted a brand that needs no introduction and a developer who has proven that it can deliver,” he said.
Four more Trump-branded projects in India over the next four years, including in Bengaluru and Chennai. Hotels and golf-course developments are under consideration.
“India continues to be one of the exciting luxury real estate markets, and we are delighted to bring the Trump brand to Hyderabad for the first time,” said Eric Trump, executive vice-president of The Trump Organisation, the real estate and hospitality business associated with the Trump family, in a statement.