Tribeca and Ira Realty Launch ₹2,000 Cr Trump-Branded Housing Project in Hyderabad
Tribeca Developers, in partnership with Ira Realty, is set to embark on a significant venture with the launch of a Trump-branded luxury housing project in Hyderabad, representing an investment of approximately Rs 2,000 crore. This project marks a strategic entry for the Trump brand into South India and further expands Tribeca’s footprint, which has seen previous launches mainly concentrated in other Indian metropolitan areas. The Trump Towers project, situated on Golden Mile Road in Kokapet, is designed to feature two 65-storey buildings comprising 450 apartments and is projected to deliver a total developable area of 22 lakh sq ft, solidifying a luxury presence in a region characterized by burgeoning consumer demand for high-end real estate.
Kalpesh Mehta, founder of Tribeca Developers, announced that the anticipated development cost will range between Rs 1,700 crore and Rs 1,800 crore, not including the land acquisition price, which is estimated at Rs 250 crore. With sales expectations hovering between Rs 3,500 crore and Rs 4,200 crore, the price of individual apartments is projected to fall between Rs 5 crore to Rs 10 crore. Notably, the market response has already demonstrated positive momentum, with eight penthouses sold for a combined value of around Rs 250 crore, including one remarkable transaction of Rs 62 crore for a single penthouse unit. The construction has already commenced, with an estimated completion timeline of four years, and the project is poised to be a defining landmark, with the two towers set to be the tallest in South India at 240 metres.
The endurance of the Trump brand amid changing geopolitical climates was highlighted by Mehta, who asserted that there has been no detrimental impact on sales stemming from current India-US relations. This perspective is further supported by Eric Trump, who emphasized India’s status as a dynamic market for luxury real estate and expressed confidence in the project’s prospective success. The partnership aims to leverage the established credibility and appeal of the Trump brand to attract affluent buyers, reflecting an overall trend of increasing interest in luxury accommodations in fast-growing urban markets such as Hyderabad.
Looking ahead, Tribeca Developers is eyeing opportunities to develop 3-4 additional Trump-branded projects in India over the next four years, with targets set on markets including Bengaluru and Chennai. The collaboration with Ira Realty, which has established a robust presence in Hyderabad, underscores their alignment in delivering high-quality luxury real estate. The strategic planning extends beyond residential developments, with considerations for Trump-branded hotels and golf course projects also in the pipeline, underscoring an ambitious growth trajectory in a competitive real estate landscape.
Source: The Economic Times
(Expert Note: This report was prepared by the Wealthova team.)