Although the Noida airport in Uttar Pradesh is still under construction, the region is rapidly becoming a hotbed of investments. Money is already flowing into the area even before planes take off from Jewar. According to a report, leading IT companies, telecom equipment giants, and data centre hubs are eyeing this region for future endeavors, turning the Noida-Greater Noida-Yamuna Expressway (YXP) belt into a booming investment area.
The region has an irresistible appeal due to its potential as a prosperous tech hub, poised to rival established tech cities such as Gurgaon, Bengaluru, Hyderabad, and Pune. Many big names in the IT industry, including HCL, Tech Mahindra, and Microsoft, have already established a presence in the area. In fact, Microsoft’s India Development Centre spans 1.5 lakh square feet and is preparing for a massive data center project covering 6.45 lakh square feet. This venture is expected to require an investment of Rs 1,800 crore and create 3,000 job opportunities.
Samsung, Dixon, LG, Oppo, Vivo, Lava, and Optiemus were among the early investors in the region and are actively expanding their operations. As a result of robust infrastructure and the upcoming Jewar airport, Sunil Vachchani sees Noida as a potential hub for mobile and home appliance manufacturing.
It is a subsidiary of the Hiranandani group that will build a massive data center spanning 3,00,000 square feet in Greater Noida. As a result of its excellent infrastructure, abundant land availability, and favorable government policies, global IT infrastructure giant NTT is expanding beyond traditional IT hubs such as Mumbai, Bengaluru, and Chennai to build a data center in Greater Noida.
Shekhar Sharma, CEO & MD of NTT Global Data Centres & Cloud Infrastructure India, praised the region’s growth prospects due to its good infrastructure, ease of access to land, power, and other facilities, and the state government’s efficient clearance process.
As work on Jewar airport nears completion, UP Chief Minister Yogi Adityanath expressed optimism- Noida IT hubs
Tech giants are setting up operations along the Noida-Greater Noida Expressway and YXP, driving up the demand for office and recreational spaces. As a result of this demand, Ace Group Chairman Ajay Chaudhary plans to construct two new complexes in the region. The Ace Group includes Infosys and HDFC.
Rajeev Singh, Partner and Consumer Industry Leader at Deloitte Asia Pacific, emphasized the importance of creating an ecosystem for tech-intensive manufacturing, such as medical devices.
This tech hub is being eyed by even financial institutions. S&P Global India’s Senior Director and Head of Site Operations for Gurgaon and Noida, Vinay Arora, highlighted Noida’s outstanding growth, emphasizing its potential to be a key location for the company.
Over 25,000 employees are housed on a 52-acre campus on the expressway, where HCLTech, an early investor in the region, has its global headquarters. As well as praising the city’s excellent infrastructure, the company also praised its upcoming Jewar airport.
JLL and CBRE, both real estate consultants, are optimistic about the region’s future. According to Samantak Das, Chief Economist and Executive Director at JLL, IT parks will occupy about 8.25 million square feet in three and a half years. CBRE’s Head of Research, Abhinav Joshi, stressed the importance of coordinated efforts between states and the Center.
He cited ease of governance, excellent infrastructure, a skilled workforce, and a reliable electricity supply as key advantages of opening two large electronics manufacturing facilities in the region, according to Akash Gupta, Chairman of contract manufacturer Optiemus Infra.
Another early investor in the region, LG Electronics, expressed optimism, citing the good support of the local government and state government. According to Ashish Agrawal, LG India’s Senior Vice President, other manufacturers should consider Noida and Greater Noida as their manufacturing bases as well.
As Director of Ashrai Infra, Sudhanshu Rai predicts Noida-Greater Noida Expressway and YXP will rapidly transform into India’s next major tech hub after Gurugram because of their strategic advantages and potential to influence the future of India’s technology industry. The Jewar airport is slated to open soon, making this region an irresistible investment destination for both commercial and residential properties.
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