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World Trade Centre in Noida to become fully operational by 2020



World Trade Centre in Noida to become fully operational by 2020.

The World Trade Center, Noida is the biggest WTC in the world yet, at 44 acres. The one second to it is located in Beijing, China at 43 acres.

NOIDA: In what could help scale NCR based technology industries and small and medium scale operators to a global platform by offering a gateway for linkages and scale, the World Trade Center, Noida, is expected to go fully operational in three years, by 2020. The World Trade Center, Noida is the biggest WTC in the world yet, at 44 acres. The one second to it is located in Beijing, China at 43 acres.

Talking to TOI, Scott D. Ferguson, CEO, World Trade Center’s Association, USA, presently visiting India, said, “Noida has been earmarked for a WTC over other parts of NCR as it has been mapped as a high growth region. The Noida World Trade Centre is expected to be a gateway for trade and commerce for rest of Uttar Pradesh as well as northern part of India.”

WTC, Noida is being developed as an integrated building which combines work, business, residency and retail spaces. The architecture is a mix of lateral low-rise apartments and high rises. The design for World Trade Centre has emerged from a mix of ideas generated from a global architectural design competition. The final design has emerged from entries sent by 67 countries.

The real estate development of the project is being done commercial real estate developer, Viridian Red. The building is going to comprise residential areas for a work-life combination system. Spaces have been marked for exhibitions, shopping, food courts, wellness centres and cultural exchange spaces. The tallest building in this expansive structure will be the Signature Tower, a 19-story building.

“Noida is the fastest developing area of NCR region, despite the slowdown, Noida has surpassed expectations year on year. This is perhaps why we chose Noida over other NCR cities to set up the WTC,” Khair Ull Nissa, Executive Director, Verbind, (the operation wing of the WTC) said. Verbind is at the helm of creating the facilities, linkages and ecosystems that a World Trade Centre provides to its members.

The licensing for operation and setting up of all World Trade Centres, globally are controlled by its headquarters in New York, USA. The expansive global business and trade hub at Tech Zone 1, Greater Noida, has recently opened doors to Chinese mobile company Vivo. Partial occupancy has also been offered to a set of venture startups. One of the most expensive real estate structure of the World Trade Centers in the world, the Noida building is estimated to cost Rs1000 crore for construction.

In the first phase, which is complete and operational, two eight story towers (7.5 lakh sqft) are absorbed by Vivo a Chinese mobile company. Two towers, Tec 1 and Tec 2 these are fully operational and have multi-tenant offices, serviced offices and retail spaces. The first phase is complete and is 30% of the total structure. The second phase of construction of WTC is in progress.

Commenting on the expanse of the WTC, Khair Ull Nissa further stated: “The scope and nature of operations of the World Trade Centre has altered with time. The way people work, live and do business has changed. This building is not just a business center, but an entire hub for doing business at an international level, inclusive of work and life.” WTC, Noida will also host a set of residences to suit needs of entrepreneurs who may choose to live close to their work.

Business spaces of varied sizes from 500sqft to 1,20,000sqft will available at the site. A section, called cubit, would also be dedicated to singe cubicle units for those who choose to work independently.

“Once a business becomes a part of our ecology they do not only have access to our facilities but actually get to be able to access an entire global platform of doing business. A WTC membership typically gives access to market research, advisory, trade information, product feasibility, trade missions, trade leads, buyer-seller connect, events conferences and fairs, a digital platform, facilitating joint ventures, merger acquisition, franchising, branding and licensing, business to business communication and activity, business to government, collaboration, technology adoption and WTC global membership,” Khair Ull Nissa, added.

The Noida facility, once complete, will host all the facilities that WTCs host globally: office spaces; virtual offices; business centres; meeting rooms; retail and exhibition area; video conferencing; dedicated exporters zone, secretarial services, translation services and a travel desk.

Commenting on how the presence of a WTC in Noida could change the game for SME operators in Noida, Rajeev Bansal, chairman, Indian Industries Association (IIA), Noida said, ‘It is an interesting development, which could help the local SMEs scale to global standards. We are waiting to see its impact in the ecosystem once it becomes fully functional.” Noida presently hosts 19 telecom companies and over 9000 SMEs. It also hosts a slew of IT-based companies out of its special economic zones.

Source: ET Realty


Blackstone In Process To Buy L&T’s Commercial Property Portfolio For Rs. 2300 Crores



Blackstone In Process To Buy L&T’s Commercial Property

Being one of the world’s leading investment firms, Blackstone has emerged as the most aggressive institutional investor in India’s real estate sector. Now this US-based private equity player is in advanced talks with L&T Realty, to acquire two commercial properties covering a total of 1.7 million sq ft., in a deal valued at Rs. 2,300 crores. Blackstone leads the market with its highest

Blackstone has been picking up properties across major cities in deals that are turning out to be benchmarks in the sector. Owning the India’s biggest portfolio of income producing office assets, this company holds a total of over 31 million sq ft. across key property markets of Noida, Mumbai, Pune and Bengaluru.

This portfolio of the real estate arm of engineering major Larsen & Toubro includes a 9 lakh sq ft. office block at the company’s commercial project at Seawoods, in Navi Mumbai. And there is another 8 lakh sq ft. of fully-leased commercial tower at the L&T premise in Powai suburb. This Seawoods office tower will be acquired in phases as the leasing process is yet to complete.

L&T Realty will assist in further leasing at Seawoods commercial block, as the deal is expected to be inked by late February as the process is currently in its final stages. Earlier in 2016, Blackstone made a deal in Navi Mumbai, a 1-million sq ft. retail mall was bought adjacent to the office tower in Seawoods, from L&T Realty for over Rs. 1,400 crores.

Being the part of the India’s largest Transit Oriented Development, Seawoods Grand Central, is L&T Realty’s office block in Navi Mumbai. This project is a mixed-use development area across 40 acres that includes the mall and other commercial spaces.

Blackstone is said to be directly acquiring these assets, without including its existing joint ventures with Bengaluru-based Embassy Group and Pune’s Panchshil Realty. This is not the first time that the New York based institutional investor has acquired assets and stake in portfolios independently.

With Colgate-Palmolive, JP Morgan Chase and L&T Infotech as the prime tenants, the commercial tower in Powai is completely leased out. This leasing factor together with all the long-term contracts, makes the Powai asset valued at Rs. 1,500 crores with a capitalization rate of about 8.5%.

Establishing its first Indian office in 2005, the leading private equity player has committed over $6 billion to the Indian companies till date. Total 19 companies owning 31 million sq ft. across 18 operating office parks, with an investment of $2.7 billion, comes under Blackstone.

An additional 11 million sq ft. of commercial space under development across the country, adds to this large portfolio. Over the past few years, the Indian real estate assets have been seeing aggressive pattern of investments, by the major global institutional investors such as Blackstone Group, GIC, Goldman Sachs, Qatar Investment Authority, Canada Pension Plan Investment Board and Brookfield Asset Management.

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Indiabulls Real Estate Acquires A Commercial Building With Leasable Area Of 2.5 Lakh Sq Ft. In Gurgaon



Indiabulls Real Estate

Indiabulls Real Estate has earned a distinct reputation for building projects that turn spaces into inspiring places, since its inception. Indiabulls Real Estate went on to expand its projects portfolio, with its prime focus on construction and development of residential, commercial & SEZ projects, across major Indian Metro cities. Today Indiabulls Real Estate is ranked amongst the top Real Estate companies with a total Gross Development value of INR 32,189 crores and net worth of INR 5,480 crores as of 2017.

Indiabulls Real Estate has commercial development with a leasable area of 3.15 million sq.ft. under construction. Further, it has a land bank of 1,046 acres and also possesses 2,588 acres of SEZ land at Nasik, Maharashtra. In 2014, the company acquired the prime property, 22 Hanover Square in Central London for Rs.1630 Cr. The group has also been conferred the status of a Business Super brand by the brand council Superbrands, India. Indiabulls Real Estate is known for its successful delivering of superior products, services to its customers, partners and shareholders.

Indiabulls Real Estate is planning to acquire a large commercial building with a leasable area of 2.5 lakh sq ft in Gurgaon.

To acquire this large area of prime and newly constructed commercial building, Indiabulls Real Estate’s wholly-owned subsidiary has entered into a definitive and a binding agreement. A BSE filing by the Indiabulls reveals that, the deal has an expectancy period of four months, mainly after receiving the Occupation Certificate of the building. Although the name of the seller and deal value was not disclosed.

With many leading multi-nationals operating in the vicinity, makes it a developed prime commercial location. Equipped with an additional leasable area, the company expects to enhance its annuity revenue to Rs 1,450 crore in FY 20-21 from the rental properties portfolio of Indiabulls Real Estate.

With its expansion spree, Indiabulls Real Estate, is counting on the revival in the real estate market in Gurgaon for making its project a success. The commercial realty market is witnessing a strong demand in Gurgaon. So Indiabulls Real Estate is looking forward to set up a state of the art business park in Gurgaon, which would be able to draw reputed corporates and MNCs. As some big-ticket commercial space rentals and deals are expected to be finalized in this space.

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Adani’s Bandra-Kurla Complex Project To Be Taken Over By Shapoorji Arm For Rs 2,000 Crore



Adani’s Bandra-Kurla Complex Project To Be Taken Over By Shapoorji Arm

Shapoorji Pallonji Investment Advisors which is an investment arm of conglomerate Shapoorji Pallonji Group is set to acquire a commercial project Inspire BKC from Adani Realty in a nearly Rs. 2,000-crore transaction. The project is located in Mumbai’s business district Bandra-Kurla Complex (BKC), informed two persons familiar with the development.

Shapoorji Pallonji Investment Advisors has emerged as the frontrunner from a total seven shortlisted interested entities including US-based private equity major Blackstone Group and an alliance between Qatar Investment Advisors (QIA) and Bengaluru based realty developer RMZ.  For this over 8 lakh sq ft project Shapoorji Pallonji Investment Advisors has already completed the due diligence process.

One of the people mentioned above said, “The due diligence process for the asset has been concluded recently, and currently the final documentation is going on. The deal is expected to be concluded soon as both the parties have frozen the structure of the transaction.”

The project has recently been completed and the developer is in the process of receiving few civic approvals, following which it will be concluded. Adani Realty is also one of the companies that is working on closing few leasing transactions here.

In one such lease deals, Swiss multinational pharmaceutical major Novartis’ India arm has entered into an agreement to pick up over 1lakh sq ft office space in this commercial project. This was one of the largest front office commercial transactions in terms of space in the Mumbai in 2017.

Shapoorji Pallonji Investment Advisor is also kept in the loop on the progress of space leasing transactions in this commercial project.

In its first-ever real estate related engagement in India in October the global insurance and asset management major Allianz Group teamed up with Shapoorji Pallonji Group to create an investment platform for office properties.

The platform, SPREF II, will be a Singapore-domiciled, rupee-denominated and close-ended fund planning to raise $500 million in equity.

After partnering with the Canada Pension Plan Investment Board (CPPIB) in 2013 for a platform with an initial target corpus of $200 million this is Shapoorji Pallonji Investment Advisors’ second such tie-up.

The commercial real estate has been registering a healthy growth across prime office markets in past three years.

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