After Metro, metropolis to get a World Commerce Centre

Nagpur: Orange City, which is located at the centre of India, is certainly going global. World Trade Centres Association (WTCA), which had built the WTC in New York and also the one in Mumbai, has decided to start a centre here.
Talking to media here on Tuesday, WTCA India director, Zubin Jall, said that Nagpur centre would come up near Sitabuldi interchange Metro station. “We are in the final stages of identifying a licensee and expect that construction would start before the year-end,” he added.

“We have not decided the size of the centre. That would be decided by our licensee depending upon the market conditions,” said Jall.

According to Jall, WTCs all over the world are interconnected and hold regular seminars, which are attended by chief executive officers (CEOs) of big companies. “We provide special services to our tenants. We also have an exclusive WTC Club,” he said.

Commenting on the downturn in Indian property market post demonetization, goods and services tax (GST) and real estate regulatory authority (RERA), Jall said, “These are pro-consumer decisions and would help the real estate sector in the long run. Property market frequently sees downturns but comes out of it within a year or two. This happened in 2008.”

The WTCA India chief said that big cities like Mumbai, Delhi and Pune were saturated and next centres of growth were tier-2 cities like Nagpur. “We presently have WTCs in five cities and have selected licensees in 25 more. We plan to cover all Smart Cities and expect Nagpur to be the 31st,” he further said.

According to him Nagpur Metro would prove to be an engine of growth for the city. “The traffic here is quite heavy and this is the right time to go in for a Metro. In cities like Mumbai, construction started when it was too late,” said Jall.

Nagpur Metro is constructing three big commercial buildings near the Sitabuldi interchange station. These can compete with the WTC. Jall, however, ruled that out the possibility. “WTC don’t compete with other real estate projects even if they share a common boundary wall. We provide unique services,” he said.

Jall also ruled out bidding for this project of MahaMetro saying that WTCs did not bid for any project and constructed properties based on their own design and specifications.

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