American real estate tycoon Donald Trump,who is known for creating landmark properties globally,is eying Indian market in a big way and plans to focus expansion in the country on luxury residences and hotels over the next five years,his scion Donald Trump Junior said today.
“India,among other emerging markets,is the biggest push for our organisation,” The Trump Organization’s Executive Vice President Donald Trump Jr,told reporetrs at the sidelines of a hospitality event here.
When asked whether any firm deal was in the pipeline,Trump Jr said the organisation is close to ink a couple of deals with Indian developers without divulging further details.
“Equity investment will depend on individual projects and partnerships but first we would like to form relationships which allow us to understand the processes and spectrum better,” he said.
Last year,the company had announced a joint venture with Rohan Lifescapes for its maiden luxury residential project in India,the Trump Tower in south Mumbai.
However,the project is stuck in the regulatory and social roadblocks.
“I like the regulatory changes I am seeing. It may slow things down a bit but will create a level playing field and will help in eliminating the unknown for an outside investor coming in,” he said.