Tuesday, November 20, 2007

Realty giant Trump plans India foray

Donald Trump Jr, son of New York based real estate developer Donald Trump, said the company plans to invest in India to capitalise on one of the fastest growing economies.
He now wants to set up the first Trump tower either in Mumbai or Delhi within the next 18 months.
"It is going to be a joint venture development. That is the way we want to do it in India. It has to be the biggest and the best or else we would be doing a disservice to our brand," stated Donald Trump Jr, Executive VP, Development & Acquisitions, Trump Organisation.
His father is known to be flashy and flamboyant and is also worth more than $3 billion. No wonder he is looking at expanding his riches and Goa could be on top of his list but for the man known to charge a 40 per cent premium over even the highest end developers in Manhattan, India is a natural bet.
"Developers want to associated with us, they are willing to take even just 25 per cent ownership in a project because of the brand and expertise we bring, and that will enable us to strike deal after deal,” Trump Jr said.
"It is great that my father has liquidity and is cash rich despite the problems in the US so that is great for us," he added.
The trump model is to invest as little as possible and gain as much as possible from management expertise, which is what Trump Jr is going to implement in India, but we have to wait for a period to see whether he can trump the luxury market.


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