Hyderabad: After becoming the first city in the world to name a street after US President Donald Trump (Donald Trump Avenue), Hyderabad is now all set to house The Trump Organization’s largest luxury residential project in India – Trump Towers Hyderabad.With a built-up area of 2.2 million sq ft, the project will account for over a third of the Trump brand’s total realty footprint in India of around 6.5 million sq ft. The project, which is undergoing excavation and foundation-related work currently, is expected to be completed in the next five years. It will come up at a cost of over Rs 2,000 crore in one of Hyderabad’s most sought-after locations – Golden Mile road in Kokapet.The 65-storeyed twin towers, coming up over four acres, will tower at a height of around 800 feet and will have a total sale value of Rs 3,500 crore to Rs 4,200 crore. This is the eighth Trump project in India after Noida, Gurgaon, Mumbai, Pune and Kolkata.Trump Towers Hyderabad is slated to be formally launched sometime in Oct or Nov, with at least one member of the Trump family expected to be in attendance. The project is being developed by Tribeca Developers, The Trump Organization’s India partner, in collaboration with Hyderabad-based Ira Realty.The project comprises 454 apartments with 16 penthouses. The twin towers will be connected by a suspended sky bridge on the 28th floor with the Trump Club.In a statement, Eric Trump, executive vice president of The Trump Organization, said: “India continues to be one of the world’s most exciting luxury real estate markets, and we are delighted to bring the Trump brand to Hyderabad for the first time.”Kalpesh Mehta, founder of Tribeca Developers, said the decision to make the South India debut with Hyderabad was driven by the city’s emergence as one of the largest and fastest-growing luxury markets in the country.The project, which received RERA approval only about a couple of weeks ago, has already notched up sales worth over Rs 250 crore with all the initially planned eight penthouses being sold out. These include one deal worth Rs 62 crore for all four penthouses in one tower clinched with one of the richest business families in Hyderabad, Mehta said. At over Rs 60 crore, this is among the top 10 highest deals in Trump Towers in India.The remaining four penthouses were acquired by four other individuals, Narsi Reddy, founder of Ira Realty, pointed out, adding that the penthouses were sold at prices averaging around Rs 25,000 per sq ft, which is a new luxury realty landmark for Hyderabad.Mehta added that the project is also gaining a lot of interest among buyers in markets like Delhi NCR given the reasonable pricing as compared to some of the recent big-ticket deals of over Rs 270 crore clinched in those markets.Tribeca Developers, which has 13 projects across 14 million square feet and a portfolio valued at over ₹16,000 crore, is the largest developer of Trump-branded properties in the world after North America and brought the Trump brand to India in 2014.
