Trump Jr. Plans $1 Billion Fund for India Property Acquisitions

Donald Trump Jr., whose father built a multi-billion dollar fortune in real estate, plans to set up a fund of as much as $1 billion to buy property in India, betting on the nation’s economic growth.
New York-based Trump Organization Inc. also plans a residential and hotel project in Mumbai with a local partner to tap the growing wealth of middle- and higher-income Indians. The city is India’s biggest trading center for stocks, bonds, commodities, diamonds and gold, and home to some of the country’s largest companies including Reliance Industries Ltd. and State Bank of India.
Trump said, “Our entry has to be in Mumbai and that’s where everything is going on right now in terms of the high-end real estate”. Further he said, “That’s the place where one is going to achieve the highest prices per square foot. It sets the tone for all of the other future developments”.
India’s $912 billion economy grew an average 8.8% since 2004 and is forecast to expand as much as 8.5% in the year to March 31, according to the central bank.

This entry was written by rajani, posted on July 22, 2008 at 4:29 am, filed under Real Estate News and tagged , , , , , , , , , , . Bookmark the permalink. Follow any comments here with the RSS feed for this post. Post a comment or leave a trackback: Trackback URL.

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