Bayview Projects to Develop International Film City in Noida

Noida, January 30: Bayview Projects, a joint venture between filmmaker Boney Kapoor and real estate developer Bhutani Group, has secured the contract to develop the International Film City near the upcoming Noida International Airport in Uttar Pradesh. The project, considered a pet project of Uttar Pradesh Chief Minister Yogi Adityanath, aims to create a world-class film production hub in the region.

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Competitive Bidding Process

Bayview Projects emerged as the successful bidder after a competitive bidding process that saw participation from renowned industry players such as T-Series, firms backed by superstar Akshay Kumar, and filmmaker KC Bokadia. The financial bid for the greenfield project was opened on Tuesday afternoon by the Yamuna Expressway Industrial Development Authority (YEIDA), which operates under the Uttar Pradesh government.

Highest Revenue Share Offered

Bayview Projects offered the highest revenue share of 18% to the state government for the Film City, which will be developed under the public-private partnership (PPP) model. The company's bid surpassed those of other contenders, including T-Series, Supersonic Technobuild (backed by Akshay Kumar), Maddock Films, and 4 Lions Films (backed by KC Bokadia).

Project Details

The International Film City will be built on over 1,000 acres of land in Sector 21 of YEIDA, along the Yamuna Expressway near Noida. The first phase of the project will cover 230 acres, with 220 acres allocated for commercial use and 780 acres for industrial use.

Previous Tender Attempts

This marks the third time that a tender was floated for the Film City project. Previous attempts in November 2021 and July 2022 failed to attract investor interest. However, the third tender, issued on September 30, 2023, with a deadline of January 4, 2024, proved successful in securing a bidder.

Consortium Formation

Bayview Projects has formed a consortium with two other companies, Parmesh Construction Company Limited and Noida Cyberpark Private Limited, to undertake the project. Bayview Projects holds a 48% equity stake in the consortium, while Parmesh Construction and Noida Cyberpark hold 26% equity each.

The development of the International Film City in Noida is expected to boost the state's film industry and create significant employment opportunities. The project aligns with the vision of Chief Minister Yogi Adityanath to transform Uttar Pradesh into a major film production hub in India.