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JUST POSTED: Real estate sales were so slow at Trump's first luxury project in India his local partners pulled half the units off the market. Now they r sitting vacant. An update on Trump Org efforts in India as POTUS arrives With @Kai_Schultz @suhasiniraj nytimes.com/2020/02/23/wor…
@Kai_Schultz @suhasiniraj What is clear is that Trump family has pushed these projects very hard. The reason they were brought in was to sell a lifestyle of luxury that at least in India was associated with the Trump family. Here is a old promotion for PUNE India--where half the units are sitting empty.
@Kai_Schultz @suhasiniraj Trump's partners came to visit Trump Tower in NYC just after he was elected president. There was a belief that his rise to the White House would help boost sales, even as dark clouds emerged over India's economy.
@Kai_Schultz @suhasiniraj Don Trump Jr. backed up that push by visiting India himself in 2018, with a major advertising effort to promote the apartment sales in the four cities where Trump-branded apartments are being built. Here is one of those ads.
@Kai_Schultz @suhasiniraj All kinds of special events associated with this trip in 2008, opportunities to meet Don Trump Jr, for interested buyers of units there. Don Jr. will NOT be in India this week as his dad tours the country as President of the US. But sales efforts there continue.
@Kai_Schultz @suhasiniraj Much of the struggle in India for Trump-branded projects is in Pune & Mumbai. Sales doing better in two other locations:, Kolkata and Gurugram, a tech hub near New Delhi. And much of this relates to overall real-estate struggle in India. Here's a Bloomberg piece on overall market
@Kai_Schultz @suhasiniraj Tremendous photos for this piece by @rebeccajconway from India. Shows the challenge of selling luxury apartments, in neighborhoods in parts of India with intense poverty, like here in Pune, where Trump Towers rise above this scene. Promotions from before election here from Pune.
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