American real estates entrepreneur Donal Trump is planning for “Substantial investments” in the hotel sector and Indian property, betting on Narendra Modi, Prime Minister led new government’s efforts to revitalize the economic growth and perk up the infrastructure.
Trump added, “I do see India as a great place to invest and I even think that election has made it better” and he was in India to launch ‘Trump Tower’ in Mumbai, and his first time project in the country’s financial capital, in partnership with India’s Lodha Group.
Hid new residential offer luxury services that include Jacuzzi tubs and world class concierge services. He is yet to formulate an equity investment in the country. He also added, it is a great place to invest and will make investment in India.
“I don’t know that I would have made that statement three, four, five years ago, it was different.”
High-inflation and interest rates have scared the home buyers in the past couple of years in Asia’s third largest economy, which has slow down the home sales and lower the profits for the country’s developers.
According to the local property research firm Liases Foras, Home sales rose by 5 per cent in June quarter from a year ago compared with an 11 per cent rise in the same quarter two years ago. To boost foreign investment in the sector, India this month paved the way for the market listing of real estate investment trusts, which will aid debt-laden developers access cheaper sources of Funding.
The zillion entrepreneur and television personality did not give facts of hid investment plans in India. He also has another project under development in the western India City of Pune.
