Leading real estate developer RPS Group said on Monday it will invest around Rs 600 crore to establish World Trade Centre in Faridabad, Haryana. The Group has tied up with Infrastructure group Viridian RED for this purpose, the company said in its statement.
The cost of the land and construction of the WTC Faridabad will be borne by the RPS group, while Viridian RED will be responsible for sales, rental and after-sales services.
Located in Sector 27C (adjacent to the Badarpur border), considered the gateway to Faridabad, the future World Trade Center (WTC) Faridabad will span 7.58 acres. It will have a total leasable/salable area of one million square feet which would be spread over 4 towers.
“We have partnered with the Viridian group to establish the World Trade Center in Faridabad. The city is a major industrial hub in the NCR region and the merger will play a central role in strengthening Faridabad’s position as an upcoming commercial destination in the country. We are confident that with world-class Class A office space, the WTC will revitalize the business landscape of Faridabad and attract renowned and leading companies to Faridabad,” said Suren Goyal, RPS Group Partner.
“Construction of the WTC is progressing at a steady pace and it will be delivered in phases from the middle of next year. All of our stakeholders, including our distribution partners, are delighted to partner with a renowned global player,” he added.
With 20 million square feet of commercial offices, hotels and residential units developed or under development, Viridian RED is a strong promoter of sustainable development. It sets new benchmarks by extending the immense potential of the World Trade Center to all of India. He has already identified important trade centers that will be the main drivers of growth and planned a strategic roadmap for a full deployment of WTCs in India and ASEAN.
Commenting on the merger with the RPS Group, Ashwani Kapoor, Co-President of Customer Engagement and Distribution, Viridian RED, said, “Faridabad is rapidly becoming a major destination for the commercial and residential segment. The global network of World Trade Centers have a proven track record in amplifying growth in their respective locations and we are confident that our partnership with RPS Group will create a myriad of opportunities that exist in this micro-market for our various stakeholders. Thanks to our collective efforts in rapid infrastructure development, Faridabad has all it takes to become a new commercial center in the NCR region.”
Faridabad has all the requisite conditions to emerge as the new commercial hub in the NCR region, Kapoor added. Besides, the upcoming World Trade Centre, RPS Group is also developing one more commercial project at the same location.
Since its establishment in 2006, RPS Group has been a leading name in Faridabad. The company has delivered over 9 million square feet, including 4,324 housing units, and aims to deliver a total area of 1.3 million square feet to Faridabad within the next year. It also aims to deliver over 3 million square feet over the next three years.