On a recent evening, the great and the good (and the rich) of Pune, a fast rising city close to Mumbai, gathered at the JW Marriott Hotel to get acquainted with the world according to Donald Trump. The 500 guests were dressed as though for the Oscars. And indeed The Donald, who knows the art of both property and showbiz only too well, didn’t disappoint.
Seated on a stage bedecked with a chandelier, the property mogul and his son Donald Trump Jr were interviewed by Bollywood actor Lara Dutta, one-time winner of the Miss Universe title. “I know what you’re going to ask so let me tell you: yes, it’s my own hair,” he declared as the audience tittered. “ You could say that I’ve brought theatrics into real estate, “ acknowledged Trump at one point.
The Trump show has descended on India with two ongoing projects under construction. One is a 75-story tower with a golden façade that is being built in mid-town Mumbai by the Lodha Group owned by billionaire Mangal Prabhat Lodha and run by his marketing-savvy sons Abhisheck and Abhinandan. The Trump Tower is part of a development called The Park.
In Pune, Trump has linked up with Panchshil Realty, founded and run by the dynamic siblings Atul and Sagar Chordia who have featured among India’s 100 richest. The Chordias who own the Pune Marriott and have another luxury project with Phillipe Starck among much else, are building two, adjacent 23-story Trump Towers, due to be completed by 2015. These are located in Kalyani Nagar, named after the billionaire auto parts clan, the Kalyanis.
Earlier at a sit-down in the Presidential Suite, Trump had told me that India, after the installation of a new government, has become a “top place” in the international rollout of his property empire. This is despite the fact that Trump’s first foray into the country with another developer had fallen apart. "Three years ago this was a tough place to do business," he admitted. But today, Trump said, he has the “gut feel” that it’s the right time. And he’s ready even to invest “if the rules allow” though he wouldn’t elaborate on the quantum.
For now the projects with Chordia and Lodha are under a licensing pact. Trump was all praise for the quality of Chordias’ construction –“it’s the highest”- and spent a few minutes explaining to me how the marble has been laid out with such finesse that the joints aren’t visible. This level of workmanship would be hard to find in Manhattan, he noted. The Trump Tower apartments in Pune cover 6,000 square feet and are priced at $2.5 million each. (A couple of Bollywood stars, I’m told later, are among the buyers. )
Though he was sounding relentlessly upbeat, Trump’s recent passage to India wasn’t entirely smooth as he had to navigate some red tape before hitting the Marriott’s red carpet; his private jet ‘s landing in Pune was delayed until he’d got prior clearance from the federal defense ministry. India’s bureaucrats don’t seem to be as yet aware of what Trump calls “the hottest property brand in the world.”
Elsewhere in Asia, Trump has six luxury condos in South Korea and a Trump Tower in Makati, in the Philippines. China could be next: "People want us. We’ve turned down so many offers." How much does he plan to invest, I ventured to ask again. Trump deflected my question with:“We have a lot of cash. But when you’re so far from New York, you need partners.”
That was my cue to question Trump as to why he’s so negative on his home market when its recovery has added to his riches. “ I see a lot of potential in the US but we’re flat-lining because leadership is lacking, “ he insisted before going on to lambast President Obama:“ It’s not appropriate that the president is playing golf while we’re bombing and the world is a tinderbox. He should be in the White House.” Pausing for a moment he delivered a typical zinger: “ If I ever got to the White House I’d never want to leave!”
An unflattering Buzzfeed profile in February, had concluded that Trump’s political ambitions are a case of crying wolf. I pressed on with asking: will he or won’t he? Trump grinned: “ Anything can happen. I may surprise a lot of people.”
