Trump keen to invest more in residential, hospitality spaces

The Trump Tower Mumbai has around 300 super luxury units in the three, four and five bedroom configuration, priced in the range of Rs 9 crore to Rs 18 crore. Lodha Group Managing Director Abhishek Lodha said that the property is so successful that even before the first sample flat is ready, it has sold more than 100 units. He also said the first three floors have already been constructed and hopes to complete the project by the end of 2018.

Under the licensing agreement, the Lodhas would pay Trump a fee running into several crores of rupees for the license to use its brand name for the project. In 2010, Trump had entered into a similar pact with the city-based Rohan Lifescape for a 65-storey building at Chowpatty in the southern fringe of the city, which was later terminated. The project had to be scrapped due to delays in project approvals after stricter coastal zone regulation norms came into effect. The multi-billion-dollar Trump Organisation owns and manages marquee hotels, resorts, casinos and luxury apartments in New York, Miami, Toronto, Vancouver, Dubai, Rio de Janerio as well as Panama, among others.