The World Trade Centers Association (WTCA), which licenses the World Trade Center (WTC) brand to developers across the world, has said that it plans to increase the number of licensees in India to around 50 in the next few years. In an interaction with Moneycontrol, the company's management added that it plans to diversify beyond offices, and is looking to lend the brand to industrial parks and mixed-use facilities as well.
As we speak, the WTCA has granted more than 20 licences to a range of developers in India, primarily to develop offices. Entities such as Brigade Enterprises and Panchshil Realty have developed World Trade Center-branded offices in cities such as Bengaluru, Kochi, and Pune, while an older World Trade Center exists in Mumbai's Colaba.
"Trade does not happen only at office buildings, but also at industrial parks, warehouses, logistics facilities, and at convention centres. It happens everywhere, and as a trade association we recognise that. This is an opportunity for entities to license and develop work-live-play facilities. We can be part of new cities which are integrating artificial intelligence, life sciences, and other new technologies," said Robin van Puyenbroeck, Executive Director, WTCA.
He added that WTCA's latest partnership with warehousing and asset management firm Welspun One for the WTC Thane project is an example of its new approach. WTC Thane is located in the neighbourhood of the Wagle industrial estate, and the development is expected to incorporate warehousing facilities, as well as offices, and retail, food, and beverage outlets. It is expected to cost about Rs 800 crore.
WTCA has also lent its brand to the Kapil Group to develop WTC Shamshabad near Hyderabad airport. This is expected to include a luxury hotel, besides offices. Another WTC is under construction at sector 5 in Salt Lake, Kolkata's tech hub, in collaboration with city-based developer Merlin. In Navi Mumbai, Raheja Universal is slated to develop a WTC-branded integrated project across 68 acres.
Recently, Prime Minister Narendra Modi inaugurated WTC Delhi, a 3.4 million square feet development in New Delhi's Nauroji Nagar, built by public sector developer NBCC.
The WTCA management, however, did not comment on Delhi's Bhutani Infra exiting talks for a licensing deal in the National Capital Region. Bhutani Infra has an extensive presence in areas such as Noida.
Unlike other major real estate licensing brands in India, such as Trump, which generally charge a percentage of the sale proceeds as their fee, WTCA charges a one-time licence fee of $3,00,000, followed by an annual "membership fee" of $12,500, regardless of the size or nature of the project. WTCA's management said that the membership helps developers and their tenants network with other entities across the world that are part of the WTCA network.
van Puyenbroeck said that the WTCA has expanded its partnership with Brigade Enterprises, with the realty firm slated to construct WTC-branded developments in Hyderabad and Thiruvananthapuram. The latter is expected to involve an investment of around $170 million, while the Hyderabad WTC will be part of a near-$500 million investment by Brigade involving offices, hotels, and premium housing. He added that WTCA has also inked a deal with the Madhya Pradesh-based BCM Group for a $135 million development in Indore.
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