Noida: The construction of international airport in Noida is nearing its completion which is on April, 2024. As the airport features world-class amities, the demand for its nearby areas for investment has increased significantly. According to CEO of Yamuna Expressway Industrial Development Authority (YEIDA), many foreign firms are looking forward for investing into housing projects near the airport.
As per a report by The Print, YEIDA CEO, Arun Vir Singh said, “We are receiving land allotment requests around the airport area from many real estate developers’ companies. These requests also include countries like US, Japan, and South Korea.” He added that many firms are also requesting land around airport for building educational institutions. In the report, Singh said, “In Sector 22D, Yamuna Expressway, three township projects will be developed on 70 to 100 acres of land. The firms which showed interest in developing housing projects are from Japan, US, South Korea, and others.”
Building the new way gateway to #DELHI #NCR and #UTTAR_PRADESH,One milestone at a time!Here’s a sneak peek at the latest construction highlights from @jewar_airport @zrh_airport @AAI_Official @CMOfficeUP @narendramodi @RamMNK pic.twitter.com/AGK4Hdk9Nw
— jewar Airport (@jewar_airport) September 4, 2024
Japanese and South Korean industrial cities near airport
Singh added, “Lands will be allotted by dividing them into three land parcels which would be developed into townships, or large-scale group housing, along with hospitals, schools, and commercial facilities. A scheme will be made to implement the plan.” In area of 5 to 10 km around Noida International Airport, YEIDA has planned to develop Japanese and South Korean industrial cities. These cities will spread over 395 acres and 365 acres respectively.
Will become hub for many sectors
YEIDA is in the process of acquiring land for development of twin cities which will feature industries, particularly electronic manufacturing units and will also include residential and commercial projects. Singh said that the development will generate employment and help the local economy. “50 per cent of the village land will be provided for commercial use. In addition to 11 proposed industrial clusters, the city will provide a hub for semiconductors, IT, apparel, medical devices, data centres, toys, handicrafts and many others. It will be spread over sectors 32, 30, 29 and 28,” Singh added.
