Omaxe will develop and operate the sports stadium and club for 30 years before handing it up to the DDA. Omaxe Ltd. would invest Rs 2,100 crore in developing a sports complex and a retail project in Dwarka, Delhi, as part of its expansion strategy.
The Delhi Development Authority (DDA) has awarded the business a 50-acre project that includes the construction of both outdoor and indoor sports facilities. A big cricket-football stadium is being built.
The overall investment is projected to be around Rs 2,100 crore, with Rs 1,300-1,400 crore going toward the sports complex and the rest going toward the retail area.
How This Project Will Improve The NCR Infrastructure?
We have got a project from DDA, located in Dwarka, New Delhi, said Omaxe Ltd Chairman Rohtas Goel.
It will be the DDA’s first PPP (Public Private Partnership) sports facility. We will create a world-class cricket stadium and sports complex under this project. It will be a landmark project that will improve sports infrastructure to worldwide levels.
The retail component would include areas for shopping, dining, and sporting events. “This project will provide a significant boost to infrastructure development in the National Capital and is projected to have a significant economic multiplier impact,” Goel said.
What About The Seating Capacity Of The Sports Arena?
Omaxe won this project using the Design Build Finance and Operate strategy. Omaxe will develop and operate the sports stadium and club for 30 years before handing it up to the DDA. Omaxe will create a commercial area for a 99-year leasehold tenure.
Omaxe has been given a 50.40-acre block of land for the development of a sports arena and commercial area. Omaxe will build an outdoor stadium with a minimum seating capacity of 30,000 people, according to the agreement. It will be a multi-purpose international cricket/football stadium.
Indoor sports facilities will have a seating capacity of 2000 people. The sports complex will also have an Olympic-sized swimming pool, as well as tennis, badminton, squash, and table tennis courts.
Here Are The Notable Inclusions In The Project
The project will include a sports club with a minimum of 3000 members. Omaxe will build approximately 3.5 lakh square feet of retail space in the commercial area.
Omaxe is constructing a commercial project in central Delhi using the public-private partnership (PPP) concept. The firm has a strong presence in Delhi-NCR, Uttar Pradesh, Punjab, and Haryana.