Bhutani Group WTC Noida Acquisition Boosts Project Completion
The existing company had been struggling to finish the work, despite parts of these projects being delivered and operational. The infusion of equity from Bhutani Group is expected to speed up construction, boost sales, and enhance overall strategy. Collectively, the projects encompass over 30 million square feet of leasable area.
The World Trade Centers Association (WTCA) grants licenses to developers in different countries to utilize the brand name and services. All the projects initiated by WTC Noida are net worth positive, and the immediate goal is to accelerate progress on each project to ensure timely delivery. Decisions regarding future projects in cities like Varanasi, Amritsar, and Lucknow will be made at a later stage.
Bhutani Group recently won the bid to develop the Film City project of the Uttar Pradesh government. A Bhutani Group spokesperson mentioned that this strategic investment encompasses multiple projects, with a focus on occupier satisfaction and job creation. The group is also looking forward to expanding into new geographies as part of this acquisition, with new launches planned soon.
The WTCA did not respond to an email query regarding the development. However, the association is looking to expand its presence in India, with the Indian market and the office market showing stable growth amidst global uncertainties. WTCA intends to establish 10 additional trade centers over the next five to seven years, aiming to increase the total number of World Trade Centers to over 50, up from the current 40. The association currently holds licenses in 40 cities in India, though not all of them have a building.
This acquisition by Bhutani Group WTC Noida is seen as a critical step towards revitalizing and completing the high-profile WTC projects, contributing significantly to India’s economic growth and infrastructure development.
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