Bangalore, Aug 26: Welspun One, India’s leading real asset platform, is nearing completion of its World Trade Center (WTC) Thane development, with the overall investment in the project expected to exceed Rs 1,000 crore, including investments by tenants towards their respective spaces and fit outs. This will be a significant inflow of investment into the local economy creating a further positive impact in terms of trade and commerce activity and employment opportunities.
The development is expected to support around 5,000 employees across its tenant ecosystem and is currently 30% leased with an additional offer to lease for over 20% of the area. The operations expected to commence by the end of the year.
Located in Wagle Estate, WTC Thane is being developed as a first-of-its-kind integrated urban destination, bringing together Grade A offices, experience centres, F&B and Urban Distribution Centres (UDCs) within a single asset. The development is designed to accommodate large organizations office spaces and50+ brands across retail experience centres and F&B. As a licensee of the World Trade Centre brand, WTC Thane will also provide occupiers an access to WTC membership benefits including opportunities to network into the wider WTCA global business network, spanning more than 300 World Trade Centre properties across nearly 100 countries.
Designed by Architect Hafeez Contractor, the development features large-format spaces and infrastructure designed for efficient movement of people and goods, with a focus on automation and green building. A key differentiator of the development is its destination-themed retail concept, which will provide brands with large-format, compliant spaces to create experience centres.
Neeraj Balani, Chief Customer Officer, Welspun One, said, “WTC Thane is envisioned as a first-of-its-kind urban commercial destination in India, bringing together workplace, experience-led retail and urban logistics within a single integrated development. As we move towards completion, WTC Thane is set to establish a new benchmark for how commercial spaces can be designed to serve businesses, brands and consumers in a growing urban market like Thane.”
Aditya Birla Group has recently leased space at WTC Thane for its vault operations, while Welspun Group is also among the brands to have signed up for the development. Further occupier announcements are expected as leasing paperwork progresses.