The remaining 14 billion would be invested in the next 2-3 years as around 7 billion has been already invested by WTC. WTC is a global business network, which is the New York-based organization. WTC will be investing almost 21 billion in its project located in Noida.
WTC Noida is spreading over 42 acres, which makes it one of the largest WTC properties in the world. The investment in this project is estimated at around 21 billion out of 7 billion has been already invested by WTC and the remaining 14 billion would be invested in the next 2-3 years. However, the investment excludes the land cost of the project.
The Yogi Adityanath government had signed a Memorandum of Understanding (MoU) with WTC, during the UP Investors Summit 2018. The MoU is for the development of Mobile Open Exchange Zone (MOX) in Greater Noida, which is touted to act as a catalyst to bring the advantage of growth in the mobile and allied sectors to Uttar Pradesh.
It comprises WTC One A, B, and C, comprising virtual office spaces with distinct sizes starting from 500 sq. ft. WTC One Noida will be delivered by June 2019.
WTC Noida’s 2.1 million sq ft of commercial space is ready out of 4.2 million sq ft, which is mandated to develop realty for mobile phone and other technology companies at WTC Noida.
WTC Noida is holding talks with other mobile companies based out of China, South Korea, Taiwan and Japan to set up shop at the upcoming hub. However, Chinese mobile handset company VIVO has already been leased out two towers comprising commercial space.
According to reports it claimed that Noida/Greater Noida region has the potential to attract over Rs 100 billion of investment in near future and generate several hundred thousands of jobs. A consultancy company had claimed by 2020, India would be the 2nd largest Smartphone market in the world with the mobile phone ecosystem contributing 8.2% to the country’s economy.
This property comprises the mixed-use commercial complex with office spaces, hotels, service apartments, recreational and green spaces. It is believed that the possession of the whole project will be delivered by 2021.