Trump em­pire to rise in In­dia with mega-value projects

Sunday Express - - FRONT PAGE - EX­PRESS NEWS SER­VICE @ Chen­nai

THE im­me­di­ate fam­ily of US Pres­i­dent Don­ald Trump is set to ex­pand pro­mo­tion of the Trump em­pire in In­dia. Ac­cord­ing to

The Wash­ing­ton Post, the Pres­i­dent’s el­dest son, Don Jr, might launch two new res­i­den­tial pro­grammes in the next 15 days.

“(...) Don Jr is ex­pected to launch two res­i­den­tial projects in In­dia for the Trump Or­ga­ni­za­tion in the com­ing weeks,” a re­port on the news­pa­per’s web­site said. These two projects have caused a few mur­murs be­cause the Trump Or­ga­ni­za­tion has gone on record pre­vi­ously to say no new for­eign deals would be signed while the Pres­i­dent re­mains in of­fice.

How­ever, these two projects – com­ing up in Kolkata and Gur­gaon – were inked be­fore he stood for elec­tion. “(...) these two lat­est projects in In­dia were inked be­fore his elec­tion,” the news­pa­per quotes a source say­ing.

In an email state­ment that Trump Or­gan­i­sa­tion sent to The

Wash­ing­ton Post, they re­main ‘ex­tremely bullish on In­dia’ even if the real-es­tate mar­ket isn’t that healthy at this point in time. “We are long term, ex­tremely bullish on In­dia,” the Trump Or­ga­ni­za­tion said. “The suc­cess of our ex­ist­ing projects and the strong in­quiries that the teams are see­ing from up­com­ing projects even be­fore launch has been in­cred­i­ble. We are op­ti­mistic about the fu­ture and very proud of our ex­ist­ing pres­ence in the mar­ket.”

The re­port also has de­tails of the two projects. “The new Trump-branded tower in the eastern city of Kolkata will be priced at $765,000 and un­der; a project in the cap­i­tal sub­urb of Gur­gaon will fea­ture apart­ments start­ing at $1.8 mil­lion and golf course ac­cess.” This is over and above the three ex­ist­ing projects. There is one in Mum­bai, one in Pune and a pro­posed of­fice in Gur­gaon.

Ac­cord­ing to the re­port, the Mum­bai tower is be­ing built by the fam­ily com­pany of Man­gal Prab­hat Lodha, a state leg­is­la­tor and state vice pres­i­dent of the gov­ern­ing Bharatiya Janata Party.

Trump’s li­cens­ing ar­range­ments in In­dia have brought in between $1.6 mil­lion and $11 mil­lion in roy­al­ties since 2014 — in­clud­ing roy­al­ties stated in a range from $100,001 to $1 mil­lion last year from the Kolkata project, Trump’s fi­nan­cial fil­ings show.

Don­ald Trump

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