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New Delhi: The world trade center association (WTCA) has joined hands with Merlin GroupFor the development of the World Trade Center (WTC) in Kolkata, spread over 3.5 million sq. ft.
The proposed WTC is located in Nabadiganta Industrial Township Authority (NDITA) area, Salt Lake and is the first one under construction. world Trade Center in eastern India.
“We are expecting an investment of Rs 1,500 crore for the development of this project. The company expects to start operations of the first phase next year and complete the entire project by 2026. About 55 per cent will be completed next year. Should be up and running.” Said Sushil MohtaChairman, Merlin Group.
The project is expected to create 30,000 jobs. Scott WangVice President of the World Trade Centers Association (Asia Pacific Region) said, “It will help attract business with foreign countries and promote trade and business through 320 World Trade Centers spread across nearly 100 countries around the world. “
The WTCA is a global network that includes conventions, exhibition centers, economic development agencies, real estate developers, universities, logistics hubs, airports, seaports, free trade zones and more.
In India, the oldest World Trade Center is in Mumbai. There are also WTCs in Bengaluru, Chennai, New Delhi, Noida, Pune, among others.
According to Mohta, commercial Real estate prices and rentals are still low in Kolkata while workforce is also available in abundance, so such a deal will boost the economic prosperity of West Bengal as well as East India. It would also be beneficial to collaborate with international trade bodies and investors from other countries through other members of the World Trade Center.
He further added that Merlin Group has seen a year-on-year growth of 35 percent in the last few years and they expect the same growth to continue in the coming financial year as well. Apart from this project, we have a very good order book. We are developing a mall in about 3.5 lakh sq ft area, 5 million sq ft of residential projects under construction, IT park spread over 5 lakh sq ft, already about 70 per cent leased.”
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