NEW DELHI: Dozens of property investors and their families will be treated to dinner with Donald Trump junior in Delhi this week after snapping up flats in a Trump Towers in Gurgaon.
Trump’s local partners have promised dinner with the US president’s son to anyone who buys into the development of high-rise apartments boasting floor-to-ceiling windows, state of the art amenities and a “lifestyle concierge”.
At Rs 2.5 crore just for the downpayment on the smallest and cheapest flat, that is well beyond most Indians.
Nonetheless around 75 people have already stumped up and developer Tribeca expects that number to increase to 100 before the promotion deadline expires on Thursday, a staff member told AFP on condition of anonymity.
“The meeting is a token of gratitude to the clients for showing tremendous faith in the upcoming project,” said the Tribeca employee.
The 47-storey towers will comprise 250 homes and are expected to be completed by 2023, with price ranging from Rs 5.5 crore to Rs 11 crore.
India is already the Trump organisation’s biggest international market, with developments in four major cities — Mumbai, Pune, Gurgaon and Kolkata.
All are being built with local partners, with the Trump organisation giving permission to use its brand and taking a share of the profits.
According to media reports, the estimated cost of developing these projects is $1.5 billion.
The Trump family earned $3 million in royalties in 2016 from ventures in India, according to a New York Times report.
Trump junior and his brother now head the company after their father stood down when he became president amid concerns over a conflict of interest.
Although the US embassy says he is in Delhi on an unofficial visit, Trump junior is due to speak on Indo-Pacific relations at a business conference on Friday at which prime minister Narendra Modi will be the keynote speaker.
The luxury property in Gurgaon is being developed by Indian firms Tribeca and M3M, with construction expected to start towards the end of the year.
Source: AFP