Noida is set for a major transformation with plans to develop two new industrial cities inspired by Japan and Korea. The Yamuna Expressway Industrial Development Authority (YEIDA) has earmarked two sectors for these projects, which will encompass hundreds of hectares of land.
The estimated investment for these cities is around Rs 2,500 crore. They will offer a variety of facilities including housing, schools, and hospitals. Strategically located just 10 kilometers from Jewar International Airport, these cities are expected to boost connectivity for the region.
Experts believe this project presents a lucrative opportunity for investors and residents alike. The presence of top-notch infrastructure, reliable power supply, internet access, and modern amenities in Noida and Greater Noida already makes the region attractive to foreign companies. The development of these themed cities is expected to accelerate the overall growth of the area.
The close proximity to the airport is another major advantage. This will enhance the project's connectivity. With the development expected to surge in new residential projects to accommodate the incoming workforce.
The inauguration of Jewar International Airport is expected to create a ripple effect, boosting job creation, tourism, exports, trade, and the real estate market. This in turn will likely fuel the growth of both the Japanese and Korean-inspired cities, leading to further real estate development across various sectors, including commercial, hospitality, retail, and housing.
"The influx of both domestic and international companies will likely increase the demand for retail zones and office spaces," industry experts said.
The two cities will be built in Sectors 4-A and 5-A near Jewar Airport and will also feature designated commercial zones catering to the respective Japanese and Korean communities. The project is expected to attract investment from these countries.
The Japanese-inspired city will be constructed in Sector 5A and will cover 395 hectares. The Korean-inspired city will occupy a similar area in Sector 4A.
According to YEIDA, the cities will not only house manufacturing units for electronics like chips, semiconductors, AI equipment, and cameras, but will also include residential areas for employees, complete with essential amenities like schools and hospitals. The decision to establish these themed cities was made during a meeting with Japanese and Korean investors prior to the UP Global Investors Summit last year.