Gurugram-based, Real Estate firm M3M India has sold 20 super extravagance apartments worth Rs 150 crore under the iconic Trump Towers project in Gurgaon on the first day of its launch.
Trump Towers Gurugram is a joint venture between M3M India and Mumbai-based Tribeca Developers, and is the largest Trump branded project in India at this time.
The company is eyeing Rs 2,500 crore from the sale of 258 ultra luxury residencies ranging from Rs 5 crores to Rs 10 crores.
M3M India is developing this project Trump Towers Gurgaon at an investment of Rs 1,200 crore, barring 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 150 crore 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 yesterday.
M3M and Tribeca will develop over 250 ultra luxury apartments under a brand licence from The Trump Organization, which is currently led by Donald Trump Jr, son of US President Donald Trump.
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.