Delhi to have its own World Trade Cen­tre

HT Estates - - FRONT PAGE - Nam­rata Kohli let­ters@hin­dus­tan­times.com

tal of In­dus­trial Pol­icy & Pro­mo­tion (DIPP) in­di­cates that just in nine months of FY 2017-18, FDI eq­uity in­flows into con­struc­tion de­vel­op­ment rose by around 250% over­thelevel­sofFY2016-17.

Thissec­tor hasalso beenakey re­cip­i­ent of dol­lar-based FDI eq­uity, ac­count­ing­foraround7% of the to­tal in­fu­sion be­tween April 2000 to De­cem­ber 2017. Of course, theFDIe­quitythat­flowed into this sec­tor be­tweenApril-De­cem­ber 2017 does not beat the high lev­els wit­nessed in 2012-13 and 2013-14. How­ever, the de­ci­sive re­turnof­for­eign­fund­ing­has cer­tainly turned the tide for the con­struc­tion de­vel­op­ment sec­tor, which­wass­wim­min­ga­gainst the neg­a­tive cur­rents of sub­dued de­mand and dis­rup­tive pol­icy changes over the past few years.

OTHER POS­I­TIVES TO THIS RE­VIVAL

omy. TheIn­di­an­realestate­sec­tor is the coun­try’s sec­ond-largest em­ployer, hast­hou­sand­so­fal­lied in­dus­tries and­p­resent­ly­con­tributes 8-9% to the coun­try’s GDP.

Nev­er­the­less, we can­not for­get that this is are­vival, no­tati­dal wave of growth. In other words, the Gov­ern­ment has to en­sure that the­ex­u­ber­ance­does­not­fade away.

HOW CAN THIS BE DONE?

On 17 May, Venka­iah Naidu, Vice Pres­i­dent of In­dia, laid the foun­da­tion stone of World Trade Cen­ter (WTC) in Nau­roji Na­gar. The­p­ro­ject is be­ing de­vel­oped by NBCC (In­dia) Ltd un­der li­cense from WTC, New York.

But first, what is WTC and what is so spe­cial about the WTC net­work? The World Trade Cen­ter As­so­ci­a­tion (WTCA) is a not­for-profit, non-po­lit­i­cal as­so­ci­a­tion ded­i­cated to the es­tab­lish­ment of World Trade Cen­ters as in­stru­ments for in­ter­na­tional trade ex­pan­sion. The WTCA unites cor­po­ra­tions and gov­ern­ment agen­cies in in­ter­na­tional trade. It pro­vides a port­fo­lio of branded of­fices and com­mer­cial real es­tate, along­side an ex­ten­sive suite of trade ser­vices for ten­ants, thereby link­ing them with the rest of the global net­work. Ac­cord­ing to a spokesper­son fromNBCC,“TheWTCAhas 323 li­censed world trade af­fil­i­ates in 88 coun­tries as well as more than 750,000 com­pa­nies andin­di­vid­u­als. This means that a WTC ten­ant or a mem­ber of a lo­cal WTC can lever­age this ecosys­tem of global trade to gen­er­ate op­por­tu­ni­ties and take their busi­nesses abroad.”

WTC, Nau­roji Na­gar is touted as be­ing the first- of- its- kind project in the Delhi NCR re­gion in cer­tain ways. Ac­cord­ing to Anoop Ku­mar Mit­tal, Chair­man and Man­ag­ing Di­rec­tor NBCC, “This world class struc­ture will change the sky­line of New Delhi. The state-of-the-art com­mer­cial hub spread across 25 acres will have 60 lakh sq ft of built-up area and 12 com­mer­cial tow­ers.” NBCC, which has ob­tained ac­cred­i­ta­tion from the WTCA, says that it is con­form­ing to the best stan­dards of com­mer­cial real es­tate- there will be in­te­grated build­ing man­age­ment sys­tems, smart fea­tures for light­ing, heat­ing, ven­ti­la­tion and air con­di­tion­ing (HVAC), safety and se­cu­rity sys­tems and mod­ern waste man­age­mentsys­tems. The

THE HIGH RISE PROJECT WILL HAVE SEAM­LESSLY IN­TE­GRATED GREEN LAND­SCAPE WITH TWO­LEVEL BASE­MENT PARK­ING

MINT/FILE

The re­alty sec­tor is the coun­try’s sec­ond­largest em­ployer

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