Bayview Initiatives, backed by filmmaker Boney Kapoor and actual property developer Bhutani Group, on Tuesday bagged a contract to develop the Worldwide Movie Metropolis close to the upcoming Noida Worldwide Airport in Uttar Pradesh, in keeping with officers.
The monetary bid for the greenfield venture was opened on Tuesday afternoon by the Yamuna Expressway Industrial Improvement Authority (YEIDA), which features underneath the Uttar Pradesh authorities.
“M/s Bayview Initiatives LLP (Boney Kapoor and Bhutani Group) will develop the Worldwide Movie Metropolis within the Yamuna Expressway space after making the very best bid for the Movie Metropolis,” YEIDA mentioned in a quick assertion.
The choice of the concessionaire though stays to be permitted by the state authorities earlier than land is allotted to it for the event of the venture, in keeping with an official.
Bayview Initiatives was competing towards Tremendous Cassettes Industries Personal Restricted (T-series), Supersonic Technobuild Personal Restricted (backed by movie star Akshay Kumar, Maddock Movies, and others), and 4 Lions Movies Personal Restricted (backed by filmmaker KC Bokadia and others) to develop the movie metropolis, thought-about a pet venture of Uttar Pradesh Chief Minister Yogi Adityanath.
The Movie Metropolis is to be in-built a public-private partnership and is envisaged in over 1,000 acres (230 acres within the first section) of land alongside the Yamuna Expressway close to Noida.
