NCR-based technology companies and small and medium-sized businesses could benefit from the World Trade Center in Noida, which is projected to be completely operational by 2020, as a gateway to the global marketplace. WTC Noida occupies 44 acres and is the world’s largest WTC. The one after it is in Beijing, China, and covers an area of 43 acres.
“Noida has been designated for a WTC above other regions of NCR as it has been mapped as a high growth region,” said Scott D. Ferguson, CEO of the World Trade Centers Association, USA, who is now touring India. For the rest of Uttar Pradesh and the northern part of India, the Noida World Trade Center is expected to serve as a gateway for trade and commerce.”
WTC Noida is a mixed-use development that will include office, commercial, residential, and retail space. The buildings are a mix of low- and high-rises with lateral layouts. From a global architectural design competition, the World Trade Center’s design has been formed. The final design was chosen from 67 submissions from around the world.
Viridian Red, a commercial real estate developer, is in charge of the project’s real estate development. A work-life balance system will be implemented in the building’s residential portions. Exhibits and shopping areas have been designated as well as food courts and health and wellness centers. The Signature Tower, a 19-story skyscraper, will be the tallest structure in this complex.
Despite the recession in the NCR region, Noida has exceeded expectations year after year. “This may have been the reason why we chose Noida over other NCR cities to build up the WTC,” Khair Ull Nissa, Executive Director, Verbind (the operation branch of the WTC) stated. The facilities, links, and ecosystems that a World Trade Center offers its members are overseen by Verbind.
Its headquarters in New York, USA, issue licenses for the operation and construction of World Trade Centers around the world. Tech Zone 1, Greater Noida’s expansive global commercial and trade hub, recently welcomed Chinese mobile giant Vivo. Venture startups have also been given the option of occupying just a portion of the building. The construction of the Noida World Trade Center, one of the most expensive in the world, is expected to cost around Rs1000 crore.
As part of the first phase, two eight-story towers (7.5 million square feet) have been taken over by Vivo, a Chinese mobile business. One of the two towers, Tec 1 or Tec 2, has multi-tenant offices, serviced offices, and retail spaces. There is now a 30% completion rate for the first phase of construction. Progress is being made on the second phase of the WTC’s building project.
Khair Ull Nissa went on to say of the WTC’s size, “The scope and kind of operations have changed over time.” People’s job, living, and business practices have evolved. Rather than a business center, this structure serves as both a workplace and a community hub for international business. In addition to the WTC, Noida, there will be a number of houses for entrepreneurs who want to be close to their workplaces.
The complex will have commercial spaces ranging in size from 500 square feet to 1,20,000 square feet. For individuals who want to work alone, there will be a piece of the building designated as a cubit.