Yeida extends Film City tender submission date

GREATER NOIDA: The Yamuna Expressway industrial development authority (Yeida) on Monday said that it has extended the date for receiving applications to invest in the Film City project

GREATER NOIDA: The Yamuna Expressway industrial development authority (Yeida) on Monday said that it has extended the date for receiving applications to invest in the Film City project. The last date to submit applications has been revised to January 31, 2023, from the earlier date of December 16, 2022.

Yeida extends Film City tender submission date

“We have extended the date as many potential investors wanted more time. As the Film City tender is global, we hope global developers and film production houses will show interest. Since the month of December falls in the holiday season, we accepted their request,” said Arun Vir Singh, chief executive officer (CEO), Yeida.

Yeida officials had met potential investors and film production houses on November 7, during a pre-bid meeting, where prospective bidders requested that the last date for submitting tenders should be extended.

On October 13, the Uttar Pradesh cabinet had approved the revised Film City tender. The Film City will be developed in four phases and the developer will be required to finish phase 1 of the project in four years, sources said.

Yeida floated a global tender in November last year, but failed to select a suitable developer because the only agency which applied for the bid did not fulfil the required terms and conditions. Following this, the authority and the state government decided to revise the detailed project report (DPR), sources added.

Yeida hired Coldwell Banker Richard Ellis (CBRE) — an American commercial real estate services and investment firm — as a consultant for the DPR on January 8, 2021, after chief minister Yogi Adityanath announced the development of another Film City in the state.