Leading real estate developer RPS Group plans to invest around Rs 600 crore to establish the World Trade Centre in Faridabad, Haryana. The Group has tied up with infrastructure group Viridian RED for this purpose.
Located at Sector 27C (adjacent to Badarpur Border), considered gateway of Faridabad, the upcoming World Trade Centre (WTC) Faridabad will be spread across 7.58 acres. It will have a total leasable/ saleable area of one million sq. ft. that would be spread across 4 towers.
“We have tied up with the Viridian Group to establish the World Trade Centre at Faridabad. The city is a major industrial hub in the NCR region and the tie-up will play a pivotal role to bolster Faridabad’s position as an upcoming commercial destination in the country. We are confident with a world-class Grade A office space, WTC will revitalize the commercial landscape of Faridabad and attract renowned and top-companies to Faridabad,” said Suren Goyal, Partner, RPS Group.
“The construction of WTC is progressing at a brisk pace and it will be delivered in phases beginning mid-next year. All our stakeholders including our channel partners are excited to partner with a renowned global player,” he added.
With a 20 million sq. ft. of commercial office, hotels, and residential units developed or currently under development, Viridian RED is a strong proponent of sustainable development. It is setting new benchmarks by taking the immense potential of the World Trade Center to all of India. It has already identified important centers of commerce that will be key drivers for growth and has planned a strategic roadmap for a comprehensive rollout of WTC’s across India and ASEAN.
Commenting on the tie-up with the RPS Group, Ashwani Kapoor, Joint President Customer Engagement and Distribution, Viridian RED, said, “Faridabad is fast emerging as a major destination for both commercial as well as residential segment. The global network of World Trade Centres has a proven track record in amplifying growth in respective locations and we are confident that our tie-up with RPS Group will throw up myriad opportunities that exist in this micro-market for our various stakeholders. With our collective effort amid rapid infrastructure development, Faridabad has all requisite to emerge as a new commercial hub in the NCR region.”
As per the contours of the tie-up between the RPS Group and Viridian RED, the land and construction cost of WTC Faridabad will be borne by the RPS Group, while Viridian RED will be responsible for sales, leasing and post-sales services.
Besides the upcoming World Trade Centre, RPS Group is also developing one more commercial project at the same location.
Since its inception in 2006, the RPS Group has been a leading name in Faridabad. The company has delivered more than 9 million sq. ft., including of 4324 housing units, and it aims to deliver a total area of 1.3 million sq. ft. in Faridabad over the next one year. It is also targeting delivering more than 3 million sq. ft. in the next three years.