Yeida selects consultant to prepare DPR of Film City project

GREATER NOIDA: The Yamuna Expressway industrial development authority (Yeida) on Monday finalised CBRE South Asia Private Limited as the consultant for the Film

GREATER NOIDA: The Yamuna Expressway industrial development authority (Yeida) on Monday finalised CBRE South Asia Private Limited as the consultant for the Film City project to be developed in sector 21.

HT Image

A Yeida committee headed by the authority chief executive officer (CEO) Arun Vir Singh finalised the agency that will now prepare a detailed project report (DPR) in then next 60 days.

“Four agencies had applied for this project on December 7 after the tender was issued on November 29. On Monday we opened the financial bids at 4pm and finalised that CBRE, a fortune 500 company, will prepare DPR and help us in development of this project,” said Singh.

The Yeida has been exploring three models- public-private-partnership (PP), the authority alone, or another single developer-- to develop the project. The DPR is expected to find an answer to this question. It will contain the details of the layout of the sector dedicated for the film city project and the financial feasibility of the project.

“Once the DPR is finalised we will decide the model to be followed to develop this project spread across 1000 acres,” said Singh.

Yeida on September 20 sent a proposal stating that it has got 780 acres earmarked for industrial or film city and 220 acres for the commercial usage in sector 21 that is suitable for a film city.

The upcoming film city is expected to provide the platform to encompass all aspects of filmmaking- related with script, music, writing, editing and production -- under a single roof.

Uttar Pradesh Chief Minister Yogi Adityanath on September 18, 2020 this year had announced the development of the Film City project. Subsequently, Yeida on September 20 offered land located only 6 km from the upcoming Jewar airport and 12 km from the Eastern Peripheral Expressway.

The Uttar Pradesh additional chief secretary Navneet Sehgal on October 14 directed the YEIDA CEO Arun Vir Singh via letter that reads, “Because the Film City project is to be put on fast-track it is requested that to set up film city a consultant or developer should be roped in from the Yamuna authority itself.” Following the letter the YEIDA issued an RFP.