'Trump Towers' Gurgaon: Clocks Rs 1.5 bn in sales on 1st day of launch

Realty firm M3M India on Thursday said it has sold 20 luxury apartments worth Rs 1.5 billion (Rs 150 crore) under the Trump Towers project in Gurgaon within a day of its launch.

The company is targeting Rs 25 billion (Rs 2,500 crore) from the sale of 250 units in this project, which was launched on Wednesday.

Global realty brand 'Trump Towers' made its debut in North India through real estate firms M3M India and Tribeca Developers.

M3M India is developing this project 'Trump Towers Delhi NCR' at an investment of Rs 12 billion (Rs 1,200 crore), excluding land cost. Tribeca has got the exclusive right to market this project, while The Trump Organization has lent the Trump brand.

"We have recorded sales of Rs 1.5 billion on the first day of launching the iconic Trump Towers in Gurgaon," M3M India Director Pankaj Bansal said in a statement.

The company sold 20 super luxury homes on Wednesday.

M3M and Tribeca will develop 250 ultra-luxury residences under a brand licence from The Trump Organization, which is currently led by Donald Trump Jr, son of US President Donald Trump.

The project offers 250 ultra-luxury residences with initial price ranging from Rs 50 million (Rs 5 crore) to Rs 100 million (Rs 10 crore).

The construction work of the towers, each around 50 floors and over 600 ft facing golf course, will start in March and the project will be completed in 5 years.

M3M India has a land bank of 2,200 acres in and around Gurgaon. It has already completed 8 projects and is currently developing 12 projects.