RPS Group to invest Rs 600 crore to build World Trade Centre in Faridabad

Realty firm RPS Group on Monday said it will invest around Rs 600 crore to develop a commercial project World Trade Centre, comprising one million square feet area in Faridabad, Haryana.

The company has tied up with infrastructure firm Viridian RED group for this purpose, Faridabad-based RPS group said in a statement.

"RPS Group will invest around Rs 600 crore to establish World Trade Centre in Faridabad," it added.

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The project -- World Trade Centre (WTC) Faridabad -- will be spread over 7.58 acres of land and with a total leasable/saleable area of one million square feet.

The land and construction costs of WTC Faridabad will be borne by RPS Group, while Viridian RED will be responsible for sales, leasing and post-sales services.

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"We have tied up with the Viridian Group to establish World Trade Centre at Faridabad,? said Suren Goyal, Partner, RPS Group.

The project would be delivered in phases beginning mid-next year, he added.

"Faridabad is fast emerging as a major destination for both commercial as well as the residential segment.

“The global network of World Trade Centres has a proven track record in amplifying growth in respective locations and we are confident that our tie-up with RPS Group will throw up myriad opportunities that exist in this micro-market for our various stakeholders," Ashwani Kapoor, Joint President Customer Engagement and Distribution, Viridian RED, said.

Faridabad has all the requisite conditions to emerge as the new commercial hub in the NCR region, Kapoor added.

Besides, the upcoming World Trade Centre, RPS Group is also developing one more commercial project at the same location.

Since its inception in 2006, RPS Group has successfully delivered more than 9 million square feet, including 4,324 housing units, and it aims to deliver a total area of 1.3 million square feet in Faridabad over the next year.