NEW DELHI: Dozens of property investors and their families will be treated to dinner with Donald Trump junior in Delhi this week after snapping up flats in a Trump Towers luxury development on the outskirts of the Indian capital.
Trump’s local partners have promised dinner with the US president’s son to anyone who buys into the development of high-rise apartments boasting floor-to-ceiling windows, state of the art amenities and a “lifestyle concierge.”
At 2.5 million rupees (around $39,000) just for the downpayment on the smallest and cheapest flat, that is well beyond most Indians.
Nonetheless around 75 people have already stumped up and Indian developer Tribeca expects that number to increase to 100 before the promotion deadline expires on Thursday, a staff member told AFP on condition of anonymity.
“The meeting is a token of gratitude to the clients for showing tremendous faith in the upcoming project,” said the Tribeca employee.
The 47-story towers will comprise 250 homes and are expected to be completed by 2023, with price ranging from 55-110 million rupees ($850,000-$1.7 million).
Adverts in Indian newspapers on Monday promised prospective buyers their neighbors would include a “renowned industrialist,” “art maestro” and “famous Indian cricketer” — although it was not clear whether this was based on the identity of the existing buyers.
“Trump is here. Are you invited? read the full-page advert in Monday’s Times of India.
The development is in the modern satellite city of Gurgaon, where many major companies now have their headquarters.
India is already the Trump Organization’s biggest international market, with developments in four major cities — Mumbai, Pune, Gurgaon and Kolkata.
All are being built with local partners, with the Trump Organization giving permission to use its brand and taking a share of the profits.
According to media reports, the estimated cost of developing these projects is $1.5 billion.
The Trump family earned $3 million in royalties in 2016 from ventures in India, according to a New York Times report.
Trump junior and his brother now head the company after their father stood down when he became president amid concerns over a conflict of interest.
Although the US embassy says he is in Delhi on an unofficial visit, Trump junior is due to speak on Indo-Pacific relations at a business conference on Friday at which Prime Minister Narendra Modi will be the keynote speaker.
The luxury property in Gurgaon is being developed by Indian firms Tribeca and M3M, with construction expected to start toward the end of the year.
India’s residential property market has struggled in recent years, hit by a glut in urban centers combined with the impact of a 2016 move to tackle tax evasion with a ban on high-value banknotes.
Trump junior to entertain luxury flat buyers in India
Trump junior to entertain luxury flat buyers in India
Saudi Arabia unveils mining infrastructure plan, financing portal
- Initiatives announced at Future Minerals Forum seek to unlock capital, strengthen global mineral supply chains
RIYADH: Saudi Arabia announced a new initiative to strengthen mining infrastructure as the Kingdom hosted global industry leaders in Riyadh for the Future Minerals Forum, underscoring its ambition to position mining as a core pillar of economic diversification.
Speaking at the opening of the fifth edition of the forum, Minister of Industry and Mineral Resources Bandar Alkhorayef said the new plan is designed to reduce investment risk and accelerate project development across the sector.
The minister reaffirmed Saudi Arabia’s commitment to international collaboration in building what he described as a resilient, responsible and future-ready global mining ecosystem.
The forum has attracted ministers and senior officials from more than 100 countries and representatives from over 70 organizations. The event runs until Jan. 15.
“I am pleased to announce the launch of the mining infrastructure enablement initiative, in partnership with MODON, the Saudi Authority for Industrial Cities and Technology Zones,” Alkhorayef said.
He explained that the first project under the initiative will involve a 75-km treated water pipeline to support mining development in the Jabal Sayid area, helping to accelerate mineral projects in the region.
In a further move to address capital constraints in the sector, Alkhorayef announced the launch of a financing portal in cooperation with the Bank of Montreal. “We are launching a gateway to funding, addressing one of the industry’s most critical challenge, which is funding and financing,” he said.
The minister also highlighted innovation-driven initiatives unveiled at the forum. “We have also launched our first global future mineral pioneer competition, designed to translate mining section innovation from concept to practical solutions. It attracted over 1,800 innovators from 57 countries and is proof that Riyadh is an emerging hub for talent and development in the sector,” he added.
Reflecting on the evolution of the forum, Alkhorayef described FMF “as the annual reunion of our FMF family.”
He said this year’s theme, “Dawn of a global cause: Minerals for a new era of development,” reflects the forum’s growing global relevance. “We are a cause in every sense, a global milestone of mineral community with the power to deliver real impact,” he said.
“While AI and energy transition may dominate the headlines, but without minerals neither is possible,” Alkhorayef added.
The minister described the previous day’s ministerial roundtable as “our most productive roundtable to date,” citing the adoption of the FMF framework, progress on centers of excellence and responsible mining standards, and alignment with the World Bank’s new mining strategy.
Alkhorayef said Saudi Arabia is strengthening global mineral supply resilience while advancing Vision 2030 objectives. “We are advancing our commitment to unlocking our value of $2.5 trillion of mineral potential by offering significant exploration opportunities through competition. We have so far been awarded over 33,000 sq. km across our tender licensing rounds. Our ninth exploration round alone awarded 172 mining sites to 24 companies and consortiums marking our biggest licensing round to date,” he said.
“We will continue offering significant exploration opportunities through competitive tender rounds throughout 2026 and 2027,” he added.
The minister noted that Saudi Arabia has completed geophysical and geochemical survey mapping of the Arabian Shield. “Exploration spending has risen more than five times in the last few years, from $54.6 million to more than $280 million in 2024.
“Our work is recognized globally. Saudi Arabia today is the first, world wide in political stability and is 23 in investment satisfaction, up from 104 in 2013,” he said.
Alkhorayef added: “We have introduced the Future Minerals Barometer to track progress on developments of mineral value chains across supplier countries, and have also launched our first global future mineral pioneer competition, designed to translate mining section innovation from concept to practical solutions.”
