 "World Trade Centre- Brigade Enterprises")
Noida’s Bhutani Group has acquired a majority stake in WTC Noida, a company licensed to develop 13 World Trade Centers (WTC) across India, according to a report by The Economic Times. This is part of a revenue-sharing deal to complete stalled projects.
Currently, there are about five WTCs at various stages of construction in Noida, Chandigarh, Gurugram, and Gift City. Parts of these projects are already delivered and operational, but the existing company struggled to complete the work due to a lack of funds.
These projects require at least Rs 3,000 crore for completion.
The Bhutani Group is expected to boost sales, construction, and overall strategy, which should ensure timely project delivery.
The World Trade Centers Association (WTCA) has licences in 40 cities in India, though not all have physical buildings yet. The association plans to add 10 more trade centres in India over the next five to seven years, aiming to reach over 50 WTCs from the current 40.
Brigade Group recently signed a licence land agreement to develop a new 16-storey WTC tower at Infopark Kochi. This is a Rs 150-crore project expected to generate around 2,700 direct jobs and complete in three years. The Brigade Group also owns licences of six WTCs in South India. This includes WTCs in Bengaluru, Chennai, Kochi, Hyderabad, Trivandrum, and Devanahalli.
WTCA has also planned future projects in cities like Varanasi, Amritsar, and Lucknow, with decisions on these to be made later.
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The Indian office market is showing stable growth despite global uncertainties, making it an attractive expansion target for WTCA. The investment emphasises occupier satisfaction, job creation, and exploring new geographies.
Besides WTC developments, Bhutani Group has also won the bid to develop the Film City project of the Uttar Pradesh government.
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