Real Estate

Real Estate Transactions

Realtor Omaxe to invest Rs.2,100-Cr to build sports, retail complex in 50-acres in Delhi

Business Standard  

Realty firm Omaxe has bagged a 50-acre project from Delhi Development Authority (DDA) to develop a sports complex and retail project at Dwarka in the national capital at a cost of INR 2,100 crore. The company has secured this project under the "Design Build Finance and Operate" model. It will build both outdoor and indoor sports facilities. A large cricket-cum-football stadium is being planned, besides a retail area. Of the total investment, INR 1,300 -1,400 crore will be on sports complex and the rest on retail area. 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.