Trump’s Real Estate Investments Policy
“The relationship between India and the US has never been stronger, never been better.”
This stance of President Donald Trump came as a surprise to many. His “America first” approach made headlines in the mainstream media when he was campaigning for the US Presidential Elections and even after he became the 45th President of the United States of America.
However, it’s been over a year since then, and there has definitely been a huge shift in President Trump’s stance on the foreign policies, especially with respect to the India-US relations. So if we take news reports into account, Trump has even welcomed India’s association with the US as a “strong strategic partner”.
Now before discussing how the real estate investments in India would influence the foreign policy of the United States, let’s look at the investments Trump made in the real estate market in India even before coming into power.
The real estate plans of the Trump Organization in India:
The Trump Organization has forayed into in the Indian real estate sector since the year 2013.
The portfolio of the organization in the country boasts of four luxury residential complexes, associated with the real estate bigwigs in India like Panchshil Realty, Lodha, Unimark, M3M, Tribeca, and IREO.
In 2016, after assuming the responsibilities as a US president, Donald Trump had promised to renounce his role in the personal business investments in foreign shores to avert the possibility of a conflict of interest. Since then his firm’s management was handed down to Trump Jr. The Trump Organization’s branded projects in India were launched before 2016.
The five projects that the Trump Organization invested in stands at a gross development value of $1.5 billion. However, India will only receive the brand name and not the revenue. Trump Organization has initiated brand-licensing agreements with local developers but hasn’t carried out any equity investments.
Enlisted below are the five realty projects that the Trump Organization has initiated on the Indian soil.
Mumbai
The Trump Towers in the area of Lower Parel in Mumbai will be constructed in association with the Lodha group. The establishment will consist of 75 stories, and 300 luxurious apartments, and slated to be completed by early next year. The price of the apartments stands at Rs. 9 crores onward.
Other than the plush apartments, the residents will receive exclusive advantages like a private jet service and a Trump Card that provides special privileges at Trump hotels and resorts all over the world. The project has attained a price premium of approximately 35%.
Pune
For this project, the Trump Organization partnered with Panchshil Realty. The property is located in Pune’s Kalyani Nagar area, and comprises of two towers of 23 stories each, with a single apartment in every floor.
Gurugram
The Trump Organization will invest in a new high-end office building of 600,000-700,000 sq. ft. on Gurugram’s Golf Course Extension Road, in association with IREO alongside a retail complex for about Rs 1,000 crore.
The Trump Organization is also reportedly in talks with high-end developer M3M India to construct a residential building in Gurugram.
Kolkata
Trump Organization has entered into an agreement with the reputed Unimark Group to establish a 38-storey 400,000 sq. ft. residential complex as Trump Tower on the stretch of Eastern Metropolitan Bypass.
So it’s safe to say that even though Donald Trump is no longer responsible for any business decisions his company makes, but still we cannot ignore that his company’s real estate expansions in India will have some impact on the India-Us relations and the US foreign policy.
The impact of Trump’s real estate expansions in India over the US foreign policy
Since the time Donald Trump was campaigning for the presidential elections, he was quite vocal about his foreign policies. His strong sentiments against the immigrants and putting “America first” made it to the front pages of the newspapers almost every day.
But the current President of the United States of America came a long way since his rigid stance on the US foreign policies, especially with India. And Trump’s real estate business has a crucial role in it. According to the experts, one of the many reasons why Trump has let go of his earlier stance on the US foreign policy is his business ties with India.
This lenient approach towards India also points out President’s Trump’s Anti-Terrorism policies. Critics also believe that, apart from the business relations with India, the President is more interested in strengthening ties with India to counterbalance the strained relations with China and Pakistan. To top it off, the real-estate expansions in India acts as the icing on the cake that justifies the President’s tolerant approach to India.
According to a report published on The Times of India, some critics have raised pertinent questions on whether the stance the President took is to appease the Indian government officials (considering he already maintains a cordial relationship with the ruling party in India, owing to his business undertakings) who may hinder the progress of his ongoing real estate projects. So it can be said that for the best interest of his business Trump would not mind maintaining a close relationship with India.
As a parting thought, it must be highlighted that as long as Donald Trump’s name is or soon will be affixed to skyscrapers in major cities in India from Mumbai to Pune to Gurugram, the speculations about his foreign policy decisions influencing his business policies will not die down easily. And with one tweet, President Trump himself affirms this simple theory.
“Prior to the election it was well known that I have interests in properties all over the world. Only the crooked media makes this a big deal!”
So Trump’s tenure at the White House as a President means that his foreign policy decisions would cast a shadow, for better or worse, on his global financial undertakings.
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