Zurich Airport International AG of Switzerland was, on Friday, selected as the concessionaire for developing the Noida International Airport at Jewar in Uttar Pradesh.
“Zurich Airport International AG has made the highest bid for developing the Jewar airport and has been selected as the concessionaire for the airport,” he said. The financial bid will now be put up before the Project Monitoring and Implementation Committee on December 2. On the development, Anarock Property Consultants Vice Chairman Santhosh Kumar said, “The expectation is that just like any mega infrastructure project, this greenfield airport will give a major boost to the overall economic activity around Noida and Greater Noida region. Let’s take a closer look. Once completed, Jewar International Airport will not only ease traffic at Delhi’s IGI Airport but also create multiple job opportunities and give decent impetus to the property market in Noida, Greater Noida and Yamuna Expressway.
These markets have been reeling under tremendous pressure over the last three to four years, and require a fresh injection of opportunity and intent to overcome this slump. For an area to become end-user centric and liveable, a massive infrastructure project like Jewar International Airport can definitely make a huge difference. Such projects are invariably followed by more real estate developments including housing, commercial, hospitality, etc.”
Jewar Airport or the Noida International Greenfield Airport will come up in the 5,000-hectare area and is estimated to cost Rs 29,560 crore.
A global tender was floated to hire a developer for the proposed airport on May 30 by the Noida International Airport Ltd, an agency floated by the Uttar Pradesh government for managing the project in Gautam Buddha Nagar district, adjoining the national capital.
The first phase of the airport will be spread over 1,334 hectares and cost Rs 4,588 crore. It is expected to be completed by 2023.