CBRE consultant for UP film city project

CBRE was on December 14 appointed consultant for the UP Government’s film city project planned in Greater Noida.

The global commercial real estate services and investment firm has been given the task of preparing the detailed project report and drawing up a plan to make the Infotainment-cum-film city financially viable and successful.

CBRE, according to media reports, was chosen from among four companies that were shortlisted to prepare a blueprint for the film city after technical and price bid evaluations.

“The consultant has been given a 60-day window to compile the detailed feasibility study. It should get ready before February 13,” Arun Vir Singh, CEO of the Yamuna Expressway Industrial Development Authority (YEIDA), the Government agency that is in charge of the project, was quoted as saying in media reports.

The development model for the film city project is expected to be the same as that of the Jewar international airport, for which Zurich AG has been appointed concessionaire. For the film city too, YEIDA is planning to float global tenders and offering land on a long-term lease under a concession agreement.

To be developed in Sector 21, 780 acres of the land parcel is expected to be dedicated to the development of a film production hub while the remaining quantum will be used for commercial purposes.