Market squares of ancient cities evolved into the “downtown” areas of modern cities also referred as the Central Business Districts (CBD). Often home to the financial district of the town, backed by a well-connected transportation network, it has a healthy mix of entertainment, retail and prime housing making it the nerve centre of the town.
Early 1900 European and American cities were primarily retail and commercial cores. By mid-20th Century, CBDs expanded to include office space and commercial businesses with retail taking a back seat. The advent of Skyscrapers were game changers. By 21st Century, the genesis of the modern CBDs was laid complete with residential, retail, commercial, universities, entertainment, government, financial institutions, medical centres and cultural spots. A vibrant part of town, which had something for everyone!
Gentrification (residential expansion) and shopping malls as entertainment centres have given CBDs a new lease of life. Home to the Peak Land Value Intersection of the city, one would rarely sight a vacant plot, yet view some of the tallest and valuable skyscrapers.
As one saunters down some of the most famous CBDs of the world, the similarities are evident. Be it The Loop of Chicago; the Mid-town Financial District of New York; the Paulista Avenue of Sao Paulo; the City and Canary Wharf of London; the La Defense of Paris; Zuidas in Amsterdam; Bankenviertel in Frankfurt; Dubai’s DIFC; Sandton in Johannesburg; Pudong-Lujiazui of Shanghai; Chaoyang of Beijing; Central District of Hong Kong; Downtown Core of Singapore; Marunouchi of Tokyo and even Connaught Place and Bandra Kurla Complex of India, each CBD leaves a perception in the mind of the traveller; a “post-card” image of vibrancy and reflection. As landmarks of perceived prosperity, they often are the desired abode of the ambitious.
The CBD paradigm worldwide has some unique characteristics which make them destinations of choice for investors and contribute to the region’s growth story. They usually clock growth up to 30% year on year and record nearly 97% occupancy rates. Usually spread over 5 to 10 million square meters, they comprise some of the best business facilities, hotels, apartments of which nearly half are office buildings. To ensure continuous footfalls even after business hours, they have some of the best social and cultural facilities.
There are five distinct trends that will shape the future of CBDs. CBDs will become even more closely interlinked with their host cities. Rents alone will not determine economic competitiveness. Workplace design, location, the quality of workplace environment as a tool to attract and retain talent will determine pragmatic CBDs as the “places to be”. Lesser visible but more diverse CBDs will need to leverage their greater range of activities and align it with the changing needs of CBD tenants.
World Trade Centre in Sector 132, NOIDA is one such evolving CBD of the. Leveraging NOIDAs natural locational advantage, it will bring a significant value proposition for investors. It is expected to have a premium in rentals and attract higher occupancy amongst its peers. As a mix used development complete with retail, services, offices and smooth traffic flows, it will help create high land values. Investors will benefit from high rates of return, benefit from security of their investments with higher capital appreciation coupled with the pride of ownership in CBD NOIDA.
WTC Noida CBD backed by World Trade Centre Association will bring its international expertise from across 318 international cities in 88 countries. Some of the best known MNCs will be neighbours in WTC NOIDA. Universities, hospitals, Film City and Botanical Gardens will be just a 10-minute drive. It will be the gateway to New Delhi and connect with some of the most important expressways. A shortdrive of few minutes will connect residents of WTC NOIDA to two of North India’s busiest international airports.
WTC Sector 132 NOIDA CBD will surely be the address of the future.