Trump fund to plough $1 billion into Indian property

August 27, 2008 by OPPE News

Trump Organisation US is to enter the Indian property market with a bang thanks to a $1 billion hedge fund.

Indian Property management firm Maa said the flagship firm of American tycoon Donald Trump will make the move via Mumbai real estate.

Trump’s son, of the same name, first visited the region during the Cityscape real estate conference in Mumbai last year and said ‘now is the time’ to invest in India.

The younger Trump, who is 30, did not give specific details about the fund, but in an interview with Bloomberg, said it would start conservatively and expand ‘as the opportunities presented themselves.’

Last year Trump junior, the executive vice president of development and acquisitions at Trump Organisation US, said India’s red hot economy had fuelled demand for more residential development.

He pointed to luxury housing plus hotels and resorts for the fledgling tourism industry as growth areas.

In his speech at the 2007 event he said:

“We feel it is now time to invest in Indian realty projects as the quality has moved up and we see emergence of some high-end developers with a product level that will support our brand.”

When asked at the conference which cities Trump Organisation was interested in, he said: “Certainly, the city I’m standing on (Mumbai), Delhi, Hyderabad and Bangalore, where the IT sector has witnessed a boom.”