Press Release Summary: Trump Organization USA announced plans to launch a $1 billion hedge fund to invest in Indian real estate. Donald Trump Jr.\'s interest in the Indian real estate market was sparked in 2007 when he visited the subcontinent for the Cityscape real-estate conference in Mumbai.
Press Release Body: Trump Organization USA announced plans to launch a $1 billion hedge fund to invest in Indian real estate. Donald Trump Jr.\'s interest in the Indian real estate market was sparked in 2007 when he visited the subcontinent for the Cityscape real-estate conference in Mumbai.
the son of the brash American real estate tycoon and reality-TV star - appeared at the high-profile Cityscape India 2007 real estate conference in Mumbai to give a speech on the subcontinent\'s booming property market. Trump, the executive vice president of development and acquisitions at New York-based Trump Organization USA LLC, said India\'s red-hot economy has fueled demand for more residential development, particularly luxury housing, but also hotels and resorts for the country\'s flourishing tourism industry. Before he departed, Trump indicated his desire to invest in India\'s real estate sector, and hinted that he wouldn\'t wait long to do so. \"We feel it is now time to invest in Indian realty projects as the quality has moved up and we see emergence of some high-end developers with a product level that will support our brand,\" he said in his speech.
It appears that time is now: Trump announced in late July that he intends to set up a hedge fund worth up to $1 billion to invest in Indian real estate. Accordingly, the privately held fund would initially target property in Mumbai and also include an Indian family as investors. Thirty year-old Trump did not give specific details about the fund, such as how he plans to raise the money, or where the first investment would be made. But in an interview with New York-based media company Bloomberg LP, he did say that it would start conservatively and expand as the opportunities presented themselves.\"The fund will be for acquisitions of real estate in the high end and across the spectrum,\" Trump said. \"We\'ll start it off relatively small and grow it as we get more familiar with the Indian market. Our entry has to be in Mumbai, and that\'s where everything is going on right now in terms of the high-end real estate. That\'s the place where one is going to achieve the highest prices per square foot. It sets the tone for all of the other future developments.\"Trump eschews investing in India\'s smaller and less-affluent cities - he stated publicly at Cityscape India 2007 that he has no intention of entering the middle- or low-income segment because \"the best is in the high-end sector.\" When asked at the conference which cities Trump Organization would consider for business deals, Trump responded, \"Certainly, the city I\'m standing on (Mumbai), Delhi, Hyderabad and Bangalore, where the IT sector has witnessed a boom.\".........
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