New York-based luxury developer Donald Trump has signed a brand licensing agreement with Lodha Group for a 77-storey residential tower at Lower Parel. Lodha will pay Trump a fee running into several crores for licensed use of its brand name in the project. Trump Tower will be the signature tower at The Park. In 2012, Trump had signed a similar agreement with Pune’s Panchshil Realty.
In 2010, Trump had signed a similar brand licensing agreement with Rohan Lifescape—the first in the city—for a 65-storey building at Chowpatty. But it has been learnt that Trump decided to cancel the agreement due to delays in the building approval process and an understanding with Lodha for an exclusive tie-up in the project. Trump will refund the brand fees, estimated to be over $1 million, to Rohan Lifespaces. Haresh Mehta, owner of Rohan Lifespaces, confirmed Trump’s decision to terminate the agreement, but refused further comment.
In 2010, Trump had signed a similar brand licensing agreement with Rohan Lifescape—the first in the city—for a 65-storey building at Chowpatty. But it has been learnt that Trump decided to cancel the agreement due to delays in the building approval process and an understanding with Lodha for an exclusive tie-up in the project. Trump will refund the brand fees, estimated to be over $1 million, to Rohan Lifespaces. Haresh Mehta, owner of Rohan Lifespaces, confirmed Trump’s decision to terminate the agreement, but refused further comment.
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