US President Donald Trump’s real estate firm is planning its first commercial tower in the western Indian city of Pune as it seeks to ride a boom in demand for office space in the world’s most populous nation.
The expansion in India, the biggest market for Trump’s real estate business outside the US, comes as the two countries are discussing a bilateral trade deal. Trump recently hosted Prime Minister Narendra Modi at the White House, and has indicated India could be among nations hit with reciprocal duties as soon as April 2.
Trump handed management of his company to his sons and put his assets in a trust — measures that critics say weren’t enough to fully divorce him from the business empire. The Trump Organization’s new ethics plan announced in January loosened one previous restriction: while new deals with foreign governments are off limits, it doesn’t rule out pursuing deals with foreign companies.
Ethicists have closely scrutinized how foreign funds flow to the Trump Organization through its luxury properties and licensing deals, raising questions of whether those relationships could influence policy decisions, or give the appearance of a conflict.
Tribeca Developers, the local licensed partner of Trump Organization, together with real estate firm Kundan Spaces, said on Wednesday they will develop Trump World Center Pune, a 4.3 acre-project that is expected to generate more than 25 billion rupees ($289 million) in sales.
The move comes as firms leased a record 77.2 million square feet of office space across seven major Indian cities last year. This contrasts with Trump’s home market, where the supply of commercial buildings is expected to fall sharply in 2025 because of weak demand. The office foray also coincides with signs of a slowdown in demand for luxury homes in India amid a stock market rout. Trump’s real estate business has four residential towers in key cities, including Mumbai.
The Pune project will have two glass towers with more than 27 floors and 1.6 million square feet of office space, the release said. One tower will offer for-sale offices, and the other will rent out space. The project plans to offer amenities like creches, salons, auditoriums, gyms, sports facilities, spas, restaurants, and grocery stores.
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