The World Trade Center Association, the nodal body governing the exclusive ‘World Trade Center’ and ‘WTC’ branded properties and trade service organizations located in 90 countries, announced Viridian Group as its main partner in India. Mr. Scott Ferguson, CEO, World Trade Center’s Association, who was on a three-day visit to India, announced this during his visit to WTC Noida. The number of WTCs in India has already risen to 26 from 5 in the year 2011. Out of the total 26, Viridian RED, Viridian’s integrated development platform, comprising of investments, development and asset management functions, has been awarded licenses to develop 13 WTCs across India.
WTC is planning to expand its footprints in the Indian commercial real estate market. Mr. Ferguson said, “I congratulate WTC Noida for becoming the first operational facility in North India, delivering its first two towers which are completely leased and hope to see great results for the next phase as well. Viridian Group is our main partner in India”.
He further said, “The trade and investment opportunities will only grow in India with the recent changes in government policies. By being a business member or tenant or a client here at WTC Noida facility, one gains access to introductions and connections in cities around the world. The facility acts as a Gateway for local business and provides them services through hub and spoke model of connected complexes”.
Ms. Khair Ull Nissa, Executive Director, Verbind, when asked about what it means being recognized by WTC, said, “We are delighted to take forward our association with WTCA to another level, Viridian RED will continue to create landmarks across the nation.”
“We feel proud in saying that we are very active partner of WTCA in India with 13 licenses to develop WTC across India. Out of these, WTC Noida (two towers) is completed; leased and operational, while WTC GIFT City & WTC Chandigarh are under construction”.
Viridian RED is widely recognized as a catalyst and for its leadership position in the real estate landscape. With a vision to deliver innovative and quality real estate solutions in India, Viridian Real Estate Development was established as a vital part of Viridian’s integrated development platform, comprising of investments, development and asset management functions.
Mr. Ferguson also expressed his delight about the legislation brought by the Government for Real Estate sector and said, “Real Estate globally is seen as a key driver of economic growth and needs to be seen as beyond an asset class”. He congratulated Viridian RED on being one of the pioneers who is bringing this change through breakthrough concepts and connected ecosystems”.
As per a recent report by JLL India, the retail sector has been able to corner 8% of the total Private Equity investment pie in the first five months of the year 2016 itself. As of May 2016, the total PE investment into Indian retail real estate stood at USD 149 million or INR 10 billion.