Trump partners IREO to develop Rs 1k-cr office tower in Gurgaon

US-based realty major Trump Organisation on Friday announced a tie-up with real estate private equity firm IREO to develop an office tower in Gurgaon that would cost around Rs 1,000 crore, according to a news agency report.

This is the third project in India by Trump Organisation, founded by Republican Presidential frontrunner Donald Trump, but the first commercial project in the country. It has two residential projects in Pune and Mumbai.

IREO will develop an office tower, comprising 6-7 lakh of leasable area, in its 500-acre township project in Gurgaon.

The tie up with Trump Organisation is for branding and design of the iconic tower, which will be among the tallest commercial tower in the city.

The tower will be designed by the award winning Norman Foster-led architectural design firm, Foster + Partners, IREO said in a statement.

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“We have enjoyed tremendous success in India with our existing properties in Mumbai and Pune, and we are thrilled to add yet another incredible development to our portfolio. IREO is truly a fantastic group and we are looking forward to push the boundaries together to create what will soon be one of the most exciting and sought after commercial towers in India and beyond,” said Donald Trump Jr, Executive V-P of Development and Acquisitions.

IREO V-C and MD Lalit Goyal said: “We are delighted to partner with Trump Organisation, one of the world’s strongest real estate brands, in bringing to the Gurgaon market the sort of world-class office spaces that the Trump name is well known for.”

Pankaj Dugar, IREO CEO (Hospitality), said the office tower project is likely to be launched by end of this year.