11 Jan 2018 16:50 IST

Trump Towers clocks ₹150 cr in sales on first day of launch

The company sold 20 super luxury homes yesterday

Realty firm M3M India today said it has sold 20 luxury apartments worth ₹150 crore under the Trump Towers project in Gurugram within a day of its launch.

The company is targeting ₹2,500 crore from the sale of 250 units in this project, which was launched yesterday.

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 ₹1,200 crore, excluding land cost.

Tribeca has got the exclusive right to market this project, while The Trump Organisation has lent the Trump brand.

“We have recorded sales of Rs 150 crore on the first day of launching the iconic Trump Towers in Gurugram,” M3M India Director Pankaj Bansal said in a statement.

The company sold 20 super luxury homes yesterday.

M3M and Tribeca will develop 250 ultra luxury residences under a brand licence from The Trump Organisation, 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 ₹5 crore to ₹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 five years.

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