Picture Credit: Doug Mills/The New York Times
The Trump Organization has announced its entry into India’s commercial real estate market with the launch of Trump World Center in Pune.
Tribeca Developers, the Trump Organization’s licensed partner in India, confirmed the development.
This will be the Trump Organization’s first commercial office project in India.
It previously partnered with Panchshil Realty to develop a residential project in Pune over a decade ago. India already hosts four Trump-branded residential projects, making it the Trump Organization’s largest market outside the United States.
Trump World Center is being developed on a 4.3-acre plot on North Main Road in Pune’s Koregaon Park Annexe.
The project will span 1.6 million square feet and include two 27-story towers with a mix of office and retail spaces.
Tribeca Developers has partnered with Pune-based Kundan Spaces for construction.
“Construction work has already started, and we have secured all necessary approvals. Some design changes are still under review, but excavation has begun,” said Kalpesh Mehta, founder of Tribeca Developers.
The project will cost approximately ₹1,700 crore.
Revenue will be split equally between Tribeca Developers and Kundan Spaces.
“We will fund the project through debt, equity, and sales proceeds. We plan to sell smaller office spaces, typically 5,000 to 7,000 sq ft, while leasing the rest,” Mehta added.
Tribeca Developers confirmed that the focus remains on the Pune project for now.
“Once the commercial project nears completion, we will consider expanding our commercial portfolio, but no decisions have been made yet,” Mehta said.
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