Welspun to bring WTC brand to Thane; to build tallest urban distribution centre with an investment of 800 cr
December 16, 2024
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Businesses at WTC Thane will be able to serve 50% of Thane’s households in under 30 minutes and service up to around 10 million sq ft of commercial spaces
New-age logistics and industrial real estate manager Welspun has entered into a strategic agreement with the World Trade Centers Association (WTCA) to bring the World Trade Center (WTC) to Thane. Welspun One will build the country’s tallest grade A mixed-use urban distribution centre, investing ₹800 crore in the micro market.
As a licensee of the iconic World Trade Center (WTC) brand, Welspun One will build India’s first-of-its-kind mixed-use facility integrating an Urban Distribution Center (UDC), retail, office, F&B, and experience centre under one roof, the company said.
With an estimated investment of ₹800 crore, the project will be India’s first and tallest Grade A platinum-rated UDC, addressing the surging demand for just-in-time delivery and micro fulfilment centres within the Mumbai Metropolitan Region (MMR), it said.
The location and the total area
The property will span 1 million sq. ft. and rise to 14 levels, with 4.2 - 4.5 metre floor-to-floor height. The lower floors will house retail and F&B outlets, and the upper levels will offer Grade A office spaces and experience centres. The company said the adjacent UDC will have a 1.0 ton per square meter floor loading capacity.
The company said current rentals start upwards of ₹135 per sq. ft. for warehousing and ₹145 per sq. ft. for office spaces, with rents expected to rise as construction progresses.
Located in Wagle Estate, an upscale trade and business hub of Thane, the facility will capitalize on the city’s rapid economic growth and prime location.
Thane has emerged as a focal point for development within the MMR, thanks to its proximity to the Eastern and Western Express Highway. Upcoming infrastructure projects like the Thane-Borivali and Goregaon-Mulund tunnels will enhance the city's connectivity further.
It said businesses at WTC Thane will be able to serve 50% of Thane’s households in under 30 minutes and up to around 10 million sq. ft. of commercial spaces, making it a pivotal supply chain, retail distribution, and business park hub.
Source: www.hindustantimes.com
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