Noida News: The inaugural phase of the International Film City project in Noida is anticipated to create both direct and indirect employment opportunities for approximately 10,000 individuals, according to real estate consultancy CBRE. Covering 230 acres in Sector 21 near the Jewar airport, the first phase of the film city, spanning a total of 1,000 acres, is expected to cost around Rs 1,510 crore.
International Film City in Noida’s First Phase Set to Generate 10,000 Jobs: CBRE
The project, developed under a public-private partnership (PPP) model, has a 90-year concession period. Bayview Projects, supported by filmmaker Boney Kapoor and real estate developer Bhutani Group, secured the contract for the International Film City, announced by the Yamuna Expressway Industrial Development Authority (YEIDA) last month. The bidding process also saw participation from firms associated with Akshay Kumar and T-Series.
CBRE highlighted that the proposed layout for the 230-acre land parcel includes provisions for filming facilities, post-production facilities, hospitality, retail, and food and beverage development. It will also house media offices, contributing to the comprehensive infrastructure of the film city.
Uttar Pradesh Chief Minister Yogi Adityanath approved the 1,000-acre project in September 2020,
Uttar Pradesh Chief Minister Yogi Adityanath approved the 1,000-acre project in September 2020, emphasizing the significance of providing a new stage for Indian cinema. The third round of bidding, with revised terms, proved successful after previous attempts in 2021 and 2022 faced challenges in attracting bidders due to substantial investment requirements and stringent bidding terms. The film city is poised to be a significant catalyst for the entertainment industry, with the potential to boost economic growth and employment in the region.
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