“So far as the Trump-Panchshil association is concerned, this stands unaffected and we will continue our association with the Trump Organization,” Surbhi Gupta, a spokeswoman for Panchshil Realty, Trump’s development partner in two condominium towers in Pune, India, said in an e-mail. The company declined to comment on Trump’s remarks, “since we are unaware of the ground situation there, from a social and political context,” the e-mail said.
Developers in the Philippines, Turkey, Panama, Canada, India, and Uruguay pay Trump millions in licensing fees to put his name on buildings he neither built nor owns, with an aim to sell condominiums and hotel rooms at higher prices. These deals provide nearly risk-less revenue streams for Trump, which, along with income from properties he owns, helps pay down existing debts and fund new projects.
“Mr. Trump is successful and wealthy and one of the great things about the empire he’s built is that it’s diverse—both geographically and across numerous business lines,” said Alan Garten, general counsel for Trump. “It can withstand situations like this.”
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