TCG Real Estate, through its subsidiary Energetic Construction Pvt. Ltd, has secured funding of ₹714 crore from State Bank of India (SBI) to develop the World Trade Center project in Gurugram. This mixed-use development will feature office spaces and high-street retail, offering approximately 1 million square feet of leasable area.
The funding has been provided in the form of a loan with a 72-month tenure and an annual interest rate of 9.6%. The deed of hypothecation was registered on March 28, 2024, between Energetic Construction Private Limited and SBICAP Trustee Company.
The World Trade Center project is located off NH8 on Sohna Road in Gurugram. It is expected to comprise four towers, with two office towers spanning 9.4 lakh sq ft and two retail towers spanning 72,407 sq ft. The estimated cost of the project is ₹1211.86 crore.
TCG and its subsidiary have acquired 7.94 acres of land in Gurugram over the years. The project aims to provide modern and well-equipped office spaces and retail outlets in the heart of Gurugram, catering to the growing demand for commercial space in the city.
Emails have been sent to TCG Real Estate and SBI for further comments on the project and funding details.
