The total investment is estimated at about Rs 2,100 crore, of which Rs 1,300 -1,400 crore will be on sports complex and the rest on retail area. Realty firm Omaxe has bagged a project from DDA to develop a sports complex and retail project at Dwarka in the national capital at a cost of Rs 2,100 crore.
The company has secured this 50-acre project from the Delhi Development Authority (DDA) under the ‘Design Build Finance and Operate’ model. It will be built both outdoor and indoor sports facilities. A large cricket-cum-football stadium is also being planned, besides a retail area.
The total investment is estimated at about Rs 2,100 crore, of which Rs 1,300 -1,400 crore will be on sports complex and the rest on retail area. Omaxe Ltd Chairman Rohtas Goel said, “It will be the first sports facility to be developed by the DDA in PPP (Public Private Partnership) model.”
The retail portion would offer spaces for shopping, dining, and sports-related activities. Omaxe will build and maintain the sports stadiums and clubs for 30 years; thereafter it would be handed over to DDA. The commercial area developed by Omaxe will be for a leasehold period of 99 years. The land parcel of 50:40 acre is being handed over to Omaxe for development of sports arena and commercial area.
As per the agreement, Omaxe will develop an outdoor stadium with a minimum 30,000 seating capacity. It will be an international cricket-cum-football stadium/ football stadium. Indoor sports facilities will have 2,000 seating capacity. The sports complex will also have an Olympic size swimming pool and also facilities for tennis, badminton, squash and table tennis. The project will have a membership-based sports club with minimum 3,000 members. In the commercial area, Omaxe will develop about 3.5 lakh sq ft of retail space.
