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Omaxe, a renowned real estate development business in India, has announced intentions to build a sports facility and retail building in Omaxe Dwarka Delhi, a sub-city in New Delhi's southwestern part. The business has committed Rs 2100 crore to this development.
It is going to construct and maintain the sports stadiums and clubs for a period of 30 years, after which they will be handed over to the Delhi Development Authority (DDA). Additionally, Omaxe is developing a commercial area that will be on leasehold for a period of 99 years.
The "Design Build Finance and Operate" strategy is being used by the Omaxe company in partnership with the Delhi Development Authority (DDA). This project involves the development of outdoor and indoor sports facilities on a 50-acre project.
In addition to a multipurpose stadium for football and cricket, Omaxe Dwarka plans to construct build a shopping area right near to the stadium. Approximately Rs 2,100 crore will need to be invested in this project overall.
Here is how the investment is broken down:Sports Complex (with a stadium and facilities for football and cricket):
The project aims to create a multipurpose facility that accommodates both football and cricket games, along with additional amenities for these sports. Alongside the stadium, a shopping area is also expected to be built.
To develop a cricket stadium and sports complex that aims to meet global standards. The infrastructure and facilities for sports in the area will be profitable. To ensure that it meets the highest standards and offers an outstanding experience at Omaxe Dwarka Sector 19 Delhi for players, spectators, and the community, developing a world-class cricket stadium and sports complex requires meticulous planning, design, and execution.
Regarding a project in Dwarka, New Delhi, that was given a contract by the Delhi Development Authority (DDA), said by Rohtas Goel, the chairman of Omaxe Ltd. Omaxe Mall Dwarka will involve the development of a sports facility and is significant because it marks the first time DDA is utilizing the Public-Private Partnership (PPP) model for such a project.
It's development of a retail space that includes shopping, dining, and sports-related activities. This project is expected to contribute significantly to the enhancement of infrastructure in the National Capital, potentially leading to a substantial economic multiplier effect. Economic multiplier effect refers to the phenomenon where an initial investment or expenditure generates a chain reaction of increased economic activity, as the money spent continues to circulate through various sectors of the economy.
Omaxe development of sports stadiums, clubs, and commercial areas on a 50.40-acre land parcel. Omaxe will be responsible for building and maintaining the sports stadiums and clubs for 30 years, after which the responsibility will be transferred to the Delhi Development Authority (DDA) for Omaxe Dwarka Delhi a premium commercial development.
There is an agreement development of a sports complex by Omaxe. The complex will feature both an outdoor stadium and indoor sports facilities. Here's a summary of the key points you mentioned:
The commercial area is described as having approximately 3.5 lakh square feet of retail space. "Lakh" is a unit of measurement commonly used in South Asia to represent one hundred thousand.
Omaxe is a real estate and construction company. This group has been involved in both real estate development and construction contracting activities, contributing a significant amount of space like Omaxe Dwarka Delhi in terms of square feet.. The company's operations span across multiple states and union territories in India, serving a total of 27 cities. These states include Uttar Pradesh, Punjab, Madhya Pradesh, Uttarakhand, Haryana, Delhi, Rajasthan, and Himachal Pradesh and many more.
Omaxe is currently working on three group housing projects. These are likely residential developments where multiple housing units are built within a single complex, often offering shared amenities and facilities to the residents. Omaxe is involved in the development of 12 townships. Townships typically refer to large-scale, self-contained communities that include residential, commercial, and recreational spaces. Omaxe is undertaking six commercial projects. These could include the development of shopping malls, office spaces, SCOs (Shop-Cum-Office), and hotels.
