Gurgaon: The American real estate firm founded by Donald Trump who is also front runner for the Republican nomination for the President of the United States signed its first commercial office deal in India with private equity fund and developer IREO in Gurgaon.
Both The Companies will together Develop new high-end 600,000-700,000 sq ft office building alongside a retail complex for about Rs 1,000 crore. on Gurgaon’s Golf Course Extension Road, which will be Constructed by IREO .
Both Chairpersons Mr Doland Trump & Mr Lalit Goel agree that luxury commercial office space in India is truly under served especially in Gurgaon. which is need of hour for largest growing economy India and its economic centers i.e Gurgaon.
Trump said, “I’ve been there a few times. I think, like a lot of India, whether it is residential or commercial, it is generally under served in the luxury market.”
The office building, which will be designed by architect Norman Foster, will be part of the larger master-planned IREO city in sector 61 of Gurgaon.
“Trump will be lending their name to the building and also sharing their global expertise on design and planning,” Goyal said.
Trump said his firm will add value to the project on the design aspect as well. “We’ve talked with the team and my father has actually looked at some of those initial renderings to comment on it to see what we want to choose with relation to the exterior facade and other components,” he said.
Trump said his company is looking at markets such as Bengaluru and Hyderabad and even markets within markets for more such deals. It is also looking at Goa for a resort kind of property. “This (Gurgaon project) is our third project in India in as many years and so we are very excited about the progress that we are making here and believe that we have a very long-term future as a company in India,” he said.