Last month I wrote about the Clown Prince of Nepotism Donald Trump Jr.'s grandiose announcement of plans to raise $1 billion to invest in India's booming real estate market.Now BusinessWeek's HotProperty column is expressing some skepticism. After noting that Trump got the idea back in November after speaking at a real estate conference in Mumbai, Prashant Gopal notes that "The market has changed quite a bit since then. Inflation and interest rates are climbing and shares of Indian builders, home price appreciation, and demand for land are slowing. [...] Of course, this might be a good time to jump in and pick up land at distressed-sale prices. But he will be competing against established players."
Still: the fact that Trump Jr. appears to have struck upon this idea at the height of the market is indicative of something.
But I wouldn't worry too much: the "announcement" of a $1 billion fund struck me as a more of grandiose publicity ploy/plea for credibility from a reality TV bit-player than a ground floor opportunity to get in with real estate development's next big star. I'll believe otherwise when Trump announces he's raised the money, and I won't be holding my breath.
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Reader Comments (Page 1 of 1)
8-20-2008 @ 4:27PM
bill said...
y would anyone want to have anything to do with donald trup . hes filed for bankruptcy protecton more than i can count. pick a winner t invest with not a loser.
9-05-2008 @ 11:43AM
Joe Simiriglio Jr said...
Lets' not be to negative on "JR" yet, after all, the Donald, is holding his own in the Real Estate Market, while the casinos'Dad operates have tanked and will continue to reach Penny Stock status of a value of less than .50 cents by New Years Day. I predicted the penny stock status of the Trump Casino EMPIRE, many months ago, I don't feel bad for those who did not take my advise to dump TRMP when the price was above $5.00 a share. I suggest now that those who are still holding on for a buyout to pick up the stock should forgetaboutit.
Joe
www.lumberkings.biz