Real estate projects bearing US Presidential candidate Donald Trump’s name seems to have been selling well. Trump had earlier been quite vocal about his developmental projects in India in the real estate sector. Speaking of being optimistic about India, Trump had earlier said, “I am involved in two massive developments in India, you probably know, very successful, wonderful, wonderful partners, very beautiful”. Trump further said that he must stay involved in India as he has “great confidence” in the country. The Trump organisation is known to have licensed the Indian builders to use the US Presidential candidate’s name in the residential buildings being constructed in Mumbai.
It is a known fact that Indian apartments are normally put up for sale even before they begin construction. According to reports by The Wall Street Journal, in Pune, nearly half of the 46 apartments in the Trump Towers , that had completed construction this year have already been sold. In Mumbai, following the announcement of the Trump Tower in 2013, more than half of the 400 apartments have been sold as per a spokesperson for the developer, Lodha Group’s statement to the Wall Street Journal.
Sagar Chordia, Executive Director theRealtyhil Reality, the developer of the project, said that the brand name of Donald Trump has helped him charge premium prices for the apartments. He informs that the apartments are being sold for around $375/sq ft; a rate that is at least 10k higher than the average cost for luxury apartments in the city.
Panchshil Realty seems to have capitalised from the hype surrounding Donald Trump. Although questions can be asked as to when was the last time, Trump’s name was heard in a good light. But it doesn’t seem to bother the buyers. Trump’s statement about “loving the Hindu” and “loving India” seems to have engaged the real estate scene in India. Although, it has to be noted that Donald Trump is not very likely to win the US Presidential elections unless Hillary Clinton messes up in a manner that even Trump hasn’t in his entire career. Tribeca Developers, who represent “The Donald” brand in India told reporters that the demand for the brand remains strong with both “development partners and with unit purchasers”.
It has also been reported that three more projects bearing the name of “Trump” are to be announced in 2017.