Uttar Pradesh government’s plan to set up mega Film City in Greater Noida, has started rolling with CBRE selected to prepare the DPR. This has cleared the decks for the entertainment city, set to be completed by 2023
Leading global real estate consultancy, CBRE has been shortlisted as a consultant among 4 companies whose technical and price bids were evaluated. CBRE has been tasked by Yamuna Expressway Industrial Development Authority(YEIDA) to submit detailed feasibility report by the second week of February 2021. CBRE will look into the financial viability of the Infotainment & Film City. The preparation of the DPR, will pave the way for the construction of the prestigious Film City, coming up over 1000 acre of land in Greater Noida. YEIDA has already earmarked the land for the project in Sector 21, Noida. The dedicated infotainment & film city will come up next to Jewar International Airport, Asia’s biggest greenfield airport. This state of the art film city will house a film institute, music academies, It will have all the pre and post- production set up, processing labs and VFX and digital studios of international repute. A Singapore company, Vista Media has already offered to set up a film academy with an initial investment of $10 million. While the film related infra will come up over 780 acres, the rest 220 acre land will be developed as a commercial hub including hospitality developments. According to UP Film Development Council, the entire project could be ready by 2023.
Says Mr. Pradeep Aggarwal, Founder & Chairman, Signature Global and Chairman, Assocham National Council on Real Estate, Housing & Urban Development, “There will not only be large scale real estate development within the Film City, a logistics hub, dry port and freight corridor, electronics city, data centre global financial hub in close proximity. Being next to Jewar Airport, it will have excellent air connectivity, besides metro connectivity to IGIA and Delhi NCR areas. The film city real estate development along with large scale residential and commercial development around airport will be a big booster to real estate development in the region”.