Now Reading: Trump Towers Hyderabad sees rush from chip employees amid AI boom
-
01
Trump Towers Hyderabad sees rush from chip employees amid AI boom
Employees of NVIDIA, Micron, AMD and Qualcomm have booked nearly 40% of the 50-60 3.5 BHK apartments at Trump Towers Hyderabad, priced at about Rs 5.5 crore, well ahead of the project's…
Employees of NVIDIA, Micron, AMD and Qualcomm have booked nearly 40% of the 50-60 3.5 BHK apartments at Trump Towers Hyderabad, priced at about Rs 5.5 crore, well ahead of the project's formal launch expected after October. Real estate dealer Satish Reddy said on X that the first paid booking at the project was by an NVIDIA India employee, attributing the rush to the AI gold rush and stock option gains.
Ira Realty founder Narsi Reddy, who is developing the 65-storey twin towers with Tribeca Developers, said the demand is coming from mid-senior to senior executives, principal designers and directors, who held restricted stock units through the AI-linked rally. The 3.5 BHK inventory is sold out, while around 30 of the 4 BHK units (priced Rs 6.5 crore and up) have been taken, putting total sold-out inventory at about 30% of the 454-apartment project.
All 16 planned penthouses have been sold, including four in a single tower bought by one of Telangana's richest business families for about Rs 62 crore. The Rs 2,000 crore project, with a total sale value expected between Rs 3,500 crore and Rs 4,200 crore, has not yet begun targeting CXOs, and Narsi Reddy said he expects more demand from that segment.
Indian Opinion Analysis
The bookings reflect how restricted stock units in publicly listed US chip firms have turned into liquid wealth for Indian employees. Under the 2014 SEBI rules on share-based employee benefits, Indian arms of multinationals can issue RSUs that vest over time, the AI rally since ChatGPT's launch has inflated their value far beyond typical salary savings. Hyderabad has long been an R&D hub for global semiconductor firms, but the Kokapet micro-market, now connected by the Outer Ring Road and close to the financial district, is where this new money is choosing to park itself. Trump Towers Hyderabad is the second Trump-branded residential project in India, after the one in Gurugram. The 16 penthouses sold before formal launch suggest developers will test whether the chip-company buyer pool can absorb the remaining 70 percent of units, with formal marketing expected after October.
Source: timesofindia.indiatimes.com
This brief was synthesised by AI from the source linked above.
