On launch day, India's Trump Tower records billions in sales
Sheetal Sukhija - Friday 12th January, 2018
Global realty brand Trump Tower made its debut in North India’s Gurgaon state
The brand made its debut through real estate firms M3M India and Tribeca Developers
M3M India said it sold 20 luxury apartments worth Rs 1.5 billion within a day of its launch
GURGAON, India - Trump Towers launched in North India’s Gurgaon state to record breaking sales on Thursday.
The global realty brand Trump Towers debuted through real estate firms M3M India and Tribeca Developers.
M3M India said in a statement that it has sold 20 luxury apartments worth Rs 1.5 billion under the Trump Towers project in Gurgaon within a day of its launch.
The company added that it was targeting Rs 25 billion from the sale of 250 units in the project, Trump Towers Delhi NCR, when it launched on Wednesday.
M3M India added that it was developing the project at an investment of Rs 12 billion, excluding land cost.
According to the statement, Tribeca has received the exclusive right to market this project, while The Trump Organization has lent the Trump brand.
In a statement, M3M India Director Pankaj Bansal said, “We have recorded sales of Rs 1.5 billion on the first day of launching the iconic Trump Towers in Gurgaon.”
Further, officials said that M3M and Tribeca will develop 250 ultra-luxury residences under a brand licence from The Trump Organization, which is currently led by U.S. President Donald Trump’s son, Donald Trump Jr.
Further, the company’s officials said that the project offers 250 ultra-luxury residences with initial price ranging from Rs 50 million to Rs 100 million.
In March, the construction work of the towers is set to begin with each around 50 floors and over 600 ft facing golf course.
The project is set to be completed in five years.
M3M India has a land bank of 2,200 acres in and around Gurgaon and has already completed 8 projects and is currently developing 12 projects.
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