Bhutani Group Takes Charge: Major Stake in WTC Noida

In a significant move, the Bhutani Group has acquired a majority stake in WTC Noida, a key player in developing 13 World Trade Centers (WTCs) across India. This revenue-sharing agreement is set to propel stalled projects forward, with five WTCs in Noida, Chandigarh, Gurugram, and Gift City requiring a substantial Rs 3,000 crore to complete.

The infusion of equity by Bhutani Group is expected to accelerate construction and enhance sales, construction, and overall strategy for these developments. With over 30 million square feet of leasable area across these projects, the partnership aims to drive growth and ensure timely completion.

The World Trade Center Association (WTCA) is keen to expand its footprint in India, capitalizing on the stable office market amid global uncertainties. WTCA plans to add 10 new trade centers in the next five to seven years, boosting the total to over 50 from the current 40. Future projects are anticipated in cities like Varanasi, Amritsar, and Lucknow, with decisions on these to be made later.

Recently, Bhutani Group also secured the Film City project in Uttar Pradesh, underlining its commitment to major investments and job creation.

News by Rahul Yelligetti