Tribeca Developers, in partnership with Hyderabad-based Ira Realty, will develop Trump Towers Hyderabad in Kokapet, marking the entry of the Trump-branded luxury residential project into southern India, company executives told Mint.
The project, coming up on Golden Mile Road in Kokapet, a fast-growing premium housing market in Hyderabad with The Trump Organization lending its brand to the project for a fee without direct involvement in construction.
The development comes amid a broader boom in India’s luxury housing market, with branded residences increasingly attracting affluent buyers, entrepreneurs and non-resident Indians (NRIs).
The project is expected to be launched in October.
Trump Towers Hyderabad will comprise two 65-storey towers rising to 242 metres, making it the tallest Trump-branded project in India. Spread across four acres, the 2.2 million sq. ft development will also be the largest Trump residential project in the country by square footage.
The twin towers will be connected at the 28th floor through a suspended sky bridge, above which will sit the Trump Club.
The project will house more than 450 residences, including 3.5-bedroom and four-bedroom apartments as well as double-height simplex residences. Every unit will come with a private lift lobby. Prices are expected to range between ₹5.3 crore and ₹18 crore.
The Hyderabad development follows the launch of Trump Residences Gurugram last year, the second Trump-branded project in the National Capital Region.
India already hosts the largest number of Trump-branded projects outside North America. With Hyderabad, The Trump Organization will have seven real estate projects in the country, including residential developments in Pune, Gurugram, Mumbai and Kolkata, besides a commercial office project planned in Pune. Another Trump-branded residential project is also expected in Noida.
“Though we officially hadn't opened sales, the incoming demand and enquiries have surprised us, particularly the interest in the penthouses. Hyderabad is a bit like Gurugram, where buyers like branded products, large-sized homes and come with massive buying power,” Kalpesh Mehta, founder, Tribeca Developers told Mint in an interview.
The project has 16 penthouses, of which eight have already been sold. One buyer has purchased four penthouses.
Trump Towers Hyderabad will be built at a cost of around ₹1,800 crore and is expected to generate sales of ₹3,500-4,200 crore. Trump-branded projects typically command a premium over prevailing market prices in their respective locations.
“Hyderabad has no FSI restriction but we decided to do only two towers and go taller, leaving a lot of space open. It is also a city where buyers want the highest vaastu compliance, so we had to design the homes accordingly,” Mehta added.
FSI, or floor space index, refers to the permissible construction area on a plot of land.
The Hyderabad project comes amid sustained demand in the premium housing segment.