Scott D Ferguson, CEO, World Trade Centers Association, USA, presently visiting India, said, “Noida has been earmarked for a WTC over other parts of NCR as it has been mapped as a high growth region. The Noida World Trade Centre is expected to be a gateway for trade and commerce for rest of Uttar Pradesh as well as northern part of India.”
WTC, Noida is being developed as an integrated building which combines work, business, residency and retail spaces. The architecture is a mix of lateral low-rise apartments and high rises. The design for World Trade Centre has emerged from a mix of ideas generated from a global architectural design competition. The final design has emerged from entries sent by 67 countries.
The real estate development of the project is being done by commercial real estate developer Viridian Red. The building is going to comprise of residential areas for a work-life combination system. Spaces have been marked for exhibitions, shopping, food courts, wellness centres and cultural exchange spaces. The tallest building in this expansive structure will be the Signature Tower, a 19-story building.
“Noida is the fastest developing area of NCR region, despite the slowdown, Noida has surpassed expectations year on year. This is perhaps why we chose Noida over other NCR cities to set up the WTC,” Khair Ull Nissa, Executive Director, Verbind, (the operation wing of the WTC) said.
Verbind is at the helm of creating the facilities, linkages and ecosystems that a World Trade Centre provides to its members.
The licensing for operation and setting up of all World Trade Centres globally are controlled by its headquarters in New York, USA. The expansive global business and trade hub at Tech Zone 1, Greater Noida, has recently opened doors to Chinese mobile company Vivo. Partial occupancy has also been offered to a set of venture start-ups. One of the most expensive real estate structure of the World Trade Centers in the world, the Noida building is estimated to cost Rs 1000 crore for construction.
In the first phase, which is complete and operational, two eight story towers (7.5 lakh sq ft) are absorbed by Vivo a Chinese mobile company. Two towers, Tec 1 and Tec 2 these are fully operational and have multi-tenant offices, serviced offices and retail spaces. The first phase is complete and is 30 per cent of the total structure. The second phase of construction of WTC is in progress.
Commenting on the expanse of the WTC, Khair Ull Nissa further said, “The scope and nature of operations of the World Trade Centre has altered with time. The way people work, live and do business has changed. This building is not just a business center, but an entire hub for doing business at an international level, inclusive of work and life.”
WTC, Noida will also host a set of residences to suit needs of entrepreneurs who may choose to live close to their work.
Business spaces of varied sizes from 500 sq ft to 1,20,000 sq ft will be available at the site. A section, called cubit, would also be dedicated to singe cubicle units for those who choose to work independently.
“Once a business becomes a part of our ecology they do not only have access to our facilities but actually get to be able to access an entire global platform of doing business. A WTC membership typically gives access to market research, advisory, trade information, product feasibility, trade missions, trade leads, buyer-seller connect, events conferences and fairs, a digital platform, facilitating joint ventures, merger acquisition, franchising, branding and licensing, business to business communication and activity, business to government, collaboration, technology adoption and WTC global membership,” Khair Ull Nissa added.
The Noida facility, once complete, will host all the facilities that WTCs host globally: office spaces; virtual offices; business centres; meeting rooms; retail and exhibition area; video conferencing; dedicated exporters zone, secretarial services, translation services and a travel desk.
Commenting on how the presence of a WTC in Noida could change the game for SME operators in Noida, Rajeev Bansal, Chairman, Indian Industries Association (IIA), Noida said, “It is an interesting development, which could help the local SMEs scale to global standards. We are waiting to see its impact in the ecosystem once it becomes fully functional.”
Noida presently hosts 19 telecom companies and over 9000 SMEs. It also hosts a slew of IT-based companies out of its special economic zones.
Source: ET Realty