Noida: The Yamuna Expressway Industrial Development Authority (YEIDA) has reportedly received a proposal for the creation of an ‘American City’ near the upcoming Noida International Airport. The proposal from US-based consultancy firm ‘Blue Sky Vantage’ would feature educational institutions, business & commercial institutions, and more. The development of the hub spans 1200 acres across sectors – 22D, 22E, 5, and 5A.
Blue Sky Vantage’s proposal has already attracted significant attention from the US delegation, which includes eight to 9 senators, the authority said. It has also garnered the interest of some of the top universities seeking opportunities to invest in various projects in Indian cities.
American City To Be Developed At $4 Billion
According to YEIDA CEO Arun Vir Singh, the American city would be developed at a cost of around $4 billion across 1200 acres of land. Out of the 1200 acres of land, the consortium has requested 1000 acres that will feature mixed land use and 100 acres each in sectors 22D and 22E, for group housing project and a university.
Proposal For Korean City And Japanese City
As per the latest update, the YEIDA authorities have recently issued a letter of intent (LOI) to set up a university in Sector 22E. The university will feature dance, drama, theatre institutes, management schools, and an entertainment hub. The estimated investment worth 800 crore will soon be submitted to the Uttar Pradesh Government for final approval.
A similar proposal for the development of a ‘Korean City’ and a ‘Japanese City’ was previously received by YEIDA. Earlier, plans for a Japanese city on 395 hectares of land and a Korean City on 365 hectares of land were announced in Sectors 5A and 4A, respectively. The two electronic hubs will host companies manufacturing semiconductors, AI, Chips, cameras, etc. Additionally, the hubs would have residential plots for company staffs.
The decision for the development of both cities was finalized during meetings with Japanese and Korean investors ahead of the UP Global Investors Summit 2023.
