Omaxe has secured a project from the Delhi Development Authority (DDA) to develop a sports complex and retail project at Dwarka at a cost of Rs 2,100 crore.
The project will come up over 50 acre land parcel. The project has been secured under design, build, finance and operate (DBFO) model. A large cricket-cum-football stadium is also being planned, besides a retail area.
The total investment is estimated at around Rs 2,100 crore, of which Rs 1,300 -1,400 crore will be on sports complex and the rest on retail area. It will be the first sports facility to be developed by the DDA in public private partnership (PPP) model.
The company will build and maintain the sports stadiums and clubs for 30 years, thereafter it would be handed over to DDA. The commercial area developed will be for a leasehold period of 99 years.
As per the agreement, it will develop an outdoor stadium with a minimum 30,000 seating capacity. It will be an international cricket-cum-football stadium/ football stadium.
The 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, it will develop around 3.5 lakh sq ft of retail space.
