Gamechangers: How Iconic Tenants Shape Real Estate Projects

By Sanchit Bhutani

In commercial real estate, iconic tenants are transformative forces that redefine a project’s trajectory and drive sectoral growth. Their presence goes beyond occupying space; they bring credibility, attract complementary businesses, and establish the development as a prime destination. For developers, securing multinational corporations and leading businesses as tenants is a game-changer that significantly enhances the project’s appeal and value proposition.

Among the top metro cities, Delhi-NCR’s commercial real estate has witnessed significant evolution over the years, with Noida and Greater Noida emerging as key business hubs. The region’s strategic location, world-class infrastructure, and robust connectivity via expressways and metro lines have become magnets for MNCs and prominent retail brands. In Noida and Greater Noida, the presence of iconic tenants such as Fortune 500 companies and globally recognized retail brands serves as a powerful endorsement of commercial projects. The region features the offices of tech giants and multinational corporations like Infosys, TCS, Wipro, Microsoft, and Samsung along the Noida-Greater Noida Expressway, further strengthening its reputation as an emerging economic hub within Delhi-NCR.

These iconic tenants often set high benchmarks, prompting developers to incorporate advanced design elements and top-tier amenities into their projects. In office spaces, developers curate sustainable, energy-efficient buildings with LEED certifications, which appeal to environmentally conscious tenants. These signature workspaces are designed for functionality and flexibility catering to a business’ exact specifications. With their generous expanse, the office spaces in Noida and Greater Noida promote an environment of spaciousness and versatility.

Besides, Noida-Greater Noida’s upward trajectory is closely linked to ongoing infrastructural developments. Metro rail extensions, expressways, and the upcoming Noida International Airport have been major growth catalysts. These projects not only make Noida-Greater Noida more accessible but also attract multinational companies, further driving the region’s economic growth.

Moreover, as per CBRE’s India Retail Figures H1 2024, Noida-Greater Noida saw a surge in retail leasing by 12-15 per cent in 2024, solidifying their appeal to brands and investors.

In retail spaces, developers are focusing on world-class layouts that ensure high visibility for flagship stores, ample parking for customers, and a seamless blend of shopping, dining, and entertainment. Integrated lifestyle amenities are becoming standard features to align with the expectations of global retail brands. These design enhancements not only meet the requirements of iconic tenants but also elevate the overall value of the commercial projects, making Noida and Greater Noida competitive on a global scale. Additionally, global brands act as anchor tenants, drawing higher footfall and creating a ripple effect. The increased visibility and customer traffic, these brands significantly drive boost to overall sales, making the development more profitable for all stakeholders.

Therefore, attracting iconic tenants is pivotal to the success of commercial real estate projects, as they bring credibility, drive demand, and enhance the overall value of developments. For Noida and Greater Noida, the presence of global tenants transforms these regions into vibrant business and retail hubs, fostering economic growth and positioning them as premier destinations in Delhi-NCR’s real estate market. By fostering strong partnerships with iconic tenants, developers can create landmark developments that set new benchmarks for excellence and contribute to the continued growth of these emerging business hubs.

The author is Managing Director of Group108