Bhutani Infra Exits WTC Noida Deal
New Delhi: Bhutani Infra has officially announced its withdrawal from any planned collaborations with the World Trade Centers Association (WTCA). The company confirmed that it will no longer be involved in any ongoing, completed, or future projects linked to the WTCA. This decision marks a significant shift in the company’s commercial real estate strategy.
In 2024, Bhutani Infra acquired a majority stake in WTC Noida through a revenue-sharing agreement. This project was one of five World Trade Centers being developed across India. However, with the latest update, Bhutani Infra Exits WTC Noida, signaling a complete disengagement from the association.
Ashish Bhutani, CEO of Bhutani Infra, stated, “Our discussions with the WTC Group were initially aimed at aligning with Bhutani Infra’s long-term vision for India’s commercial real estate sector. However, after thorough evaluation, we have decided to step away from any association with the WTC Group.”
The company emphasized that it holds no responsibility or liability for the unit holders of existing or ongoing WTCA projects. It clarified that its initial interest in collaborating with WTCA was based on representations made by the organization. Following an in-depth assessment, the company chose to withdraw entirely.
The WTCA is a global trade organization that licenses developers to use its brand name and services. Meanwhile, industry experts believe that Bhutani Infra Exits WTC Noida as part of a broader strategy to realign its business goals with emerging market trends.
ETRealty has reached out to the WTCA for comments and will provide updates accordingly. As the situation unfolds, stakeholders and investors will be closely monitoring how this decision impacts the commercial real estate landscape in India.
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