The development of these two cities would require an estimated investment of around Rs 2,500 crore, which will offer a range of facilities, including housing, schools, and hospitals.
Noida is set to witness a global level transformation, with an ideology to create miniature versions of Japanese and Korean cities. The Yamuna Expressway Industrial Development Authority (YEIDA) has marked two sectors for the establishment of these industrial cities, with the acquisition of hundreds of hectares of land.
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The development of these two cities would require an estimated investment of around Rs 2,500 crore, which will offer a range of facilities, including housing, schools, and hospitals. Situated just 10 kilometres away from Jewar International Airport, these cities are poised to enhance connectivity for the region.
Commenting on the same, Pawan Sharma, Managing Director, Trisol Red, said, “The presence of top-notch infrastructure, consistent power supply, internet access, and modern amenities in Noida and Greater Noida has made the region a preferred choice for foreign companies. This presents a lucrative opportunity for investors, while also promising direct benefits for residents due to the anticipated acceleration of development in the area.”
“The close proximity of ‘Japanese’ and ‘Korean’ cities to Jewar International Airport will enhance the project’s connectivity. Additionally, with the expanding development of ‘Japanese’ and ‘Korean’ cities, there will be a swift emergence of new residential projects in the area to accommodate the workforce, thus further accelerating overall development. As a result, both investors and the residential real estate sector stand to gain significantly from this favourable scenario,” said Sanjay Sharma, Director, SKA Group.
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The inauguration of the international airport in Jewar will lead to a surge in job creation, tourism, exports & trade and will give a major boost to the real estate market.
“This, in turn, is expected to foster the growth of both cities and will surely help kick-start more real estate developments across all verticals, including commercial, hospitality, retail and housing projects. As the influx of both domestic & international conglomerates rises, the demand for retail zones and office spaces is also likely to increase. Consequently, the future holds promising opportunities for both commercial and residential real estate entrepreneurs in these evolving circumstances,” said Sanchit Bhutani, Managing Director, Group 108.
Two cities will be developed in close proximity to Jewar International Airport as this strategic location aims to enhance connectivity for businessmen from both Japan and Korea.
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“Situated in Sectors 4-A and 5-A near Jewar Airport, these cities will also feature designated commercial zones tailored for the respective communities, fostering comprehensive local development. The allure of Japanese influence and emerging Korean urban models near Jewar Airport is expected to stimulate future real estate investments,” observed Salil Kumar, Director of Sales and Marketing, CRC Group.
The city being developed on the lines of Japan is set to be constructed in Sector 5A of Noida, covering 395 hectares, while the ‘Korean’ city will occupy a similar 395-hectare area in Sector 4A.
According to Arun Veer Singh, CEO of the Authority, the electronic hub will host manufacturing units for chips, semiconductors, AI equipment, and cameras. The decision to establish these cities was made during a meeting with the Japanese and Korean investors prior to the UP Global Investors Summit last year. Additionally, residential units will also be constructed in Noida for employees from Japan and Korea, coupled with vital amenities such as schools and hospitals.
