Donald Trumps son is trying to raise a $1 billion (€631 million) property fund to capitalize on Indias economic growth with plans to develop high-end luxury projects, initially in Mumbai.
With real estate valuations correcting across the country, Donald Trump Jr. told Bloomberg the time was right for the Trump Organization to enter the market. The fund, expected to target as much as $1 billion according to the report, would be for acquisitions of real estate in the high end, and across the spectrum, he said. The Trump Organization was unavailable for comment.
The fund would start off relatively small and grow as the New York-based firm grew more familiar with the Indian market.
Trump Jr told Bloomberg, the firm would also consider buying land owing to the recent slowdown in the real estate market. The pendulum has started shifting back a little bit to the point where prices have started to become a bit more reasonable, the executive vice president said. It will allow companies such as ours to justify buying land. Its a good opportunity for us.
More : privateequityrealestate.net
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