TCG Real Estate secures funding of ₹714 crore from SBI for World Trade Center project in Gurugram.

Energetic Construction Pvt. Ltd promoted by TCG Urban Infrastructure Holding Pvt. Ltd has secured the funding from SBI, the documents showed. TCG Real Estate has secured funding of ₹714 crore from State Bank of India for developing the World Trade Center project located in Gurugram. The project has a leasable area of around 1 mn sq ft, documents accessed by CRE Matrix, a real estate data analytics firm, showed. Energetic Construction Pvt. Ltd promoted by TCG Urban Infrastructure Holding Pvt. Ltd has secured the funding from SBI, the documents showed. The funding secured in the form of a loan is for a tenure of 72 months and the annual rate of interest payable is 9.6%, the documents showed. The deed of hypothecation was registered on March 28, 2024. This was executed between Energetic Construction Private Limited in favor of SBICAP Trustee Company. TCG and its subsidiary had over the years acquired 7.94 acres of land in Gurugram. “The borrower now proposes to undertake the project having mixed use development comprising office space and high street retail) in the name of World Trade Center, Gurugram located on NH8,” the documents showed. The property is located off NH8 on Sohna Road in Gurugram. The project is expected to comprise four towers – two office towers would be spread across an area of 9.4 lakh sq ft and two retail towers would be spread across an area of 72,407 sq ft, the documents showed. The estimated cost of the project is ₹1211.86 crore, the documents showed.