Delhi Based Omaxe Acquires INR 2100 Crore Project From Delhi Development Authority

Omaxe has been awarded a project by the DDA to create a sports facility and retail project in Dwarka, the national capital, at a total cost of Rs 2,100 crore.

The expected total investment is around Rs 2,100 crore, of which Rs 1,300-1,400 crore will be allocated to the sports complex and the remainder to the retail area.

This 50-acre project was awarded to the corporation by the Delhi Development Authority (DDA) under the "Design Build Finance and Operate" concept. Both outdoor and indoor sports facilities will be constructed. In addition to a shopping space, a huge cricket-combined-football stadium is proposed.

The expected total investment is around Rs 2,100 crore, of which Rs 1,300-1,400 crore will be allocated to the sports complex and the remainder to the retail area.

Rohtas Goel, chairman of Omaxe, said, "It would be the first sports facility constructed by the DDA under the PPP (Public Private Partnership) model. This project will include the construction of a world-class cricket stadium and sports complex. It will be a landmark initiative that brings the sports infrastructure up to international standards."

The retail section would include areas for shopping, eating, and sporting activities.

This project will provide a significant boost to the modernization of infrastructure in the nation's capital and is expected to have a massive economic multiplier impact, according to Goel.

Omaxe will construct and operate sports stadiums and clubs for 30 years before turning them up to DDA. The commercial space created by Omaxe will have a 99-year lease term. The 50.40-acre plot is being transferred to Omaxe for the building of a sports stadium and commercial area. According to the deal, Omaxe will construct an outdoor stadium with a minimum capacity of 30,000 seats. It will be a cricket-plus-football stadium/football stadium. The capacity of indoor sports facilities will be two thousand.

In addition to an Olympic-sized swimming pool, the sports complex will have tennis, badminton, squash, and table tennis facilities. The project will include a sports club with a minimum of 3,000 members. In the commercial district, Omaxe will construct about 350,000 square feet of retail space.

The firm received Rs 440 crore from Vrde Partners in April in order to hasten the building of its current projects and grow its operations.

Omaxe Group is constructing planned communities in New Chandigarh, Lucknow, Ludhiana, Indore, and Faridabad.

It is also creating a multilevel parking-combined commercial complex in Chandni Chowk, Delhi, in partnership with North Delhi Municipal Corporation.

Omaxe has provided over 130 million square feet of building and real estate space.

The firm is present in 27 cities across eight states and union territories, including Uttar Pradesh, Madhya Pradesh, Punjab, Haryana, Uttarakhand, Rajasthan, and Himachal Pradesh.

Omaxe's product range comprises high-tech townships, integrated townships, group housing, retail malls, office spaces, serviced office condominiums, and hotels.

It is now engaged in 21 real estate projects, including three group housing developments, twelve township developments, and six commercial projects.

More Regarding Omaxe

With over 12.01 million Sq.Mtr (129.25 million sq.ft.) of delivered space in real estate and construction contracting, Omaxe is one of India's most prominent and reputable real estate firms. Mr. Rohtas Goel, a visionary first-generation entrepreneur and civil engineer, established the brand 'Omaxe' in 1987 to conduct building and contracting operations. Subsequently, in 2001, the business ventured into the real estate industry, and in 2007, it was listed on both the BSE and the NSE.

Omaxe has delivered several landmark projects and engineering marvels, created a niche in both luxury and affordable segments, and, most importantly, has brought smiles to the faces of millions of people over the last 34 years.

Today, the company is present in 27 cities across 8 states, namely Uttar Pradesh, Madhya Pradesh, Punjab, Haryana, Uttarakhand, Rajasthan, Delhi, and Himachal Pradesh, and has a diversified product portfolio consisting of Hi-Tech Townships, Integrated Townships, Group Housing, Shopping Malls, Office Spaces, SCOs, and Hotel. Currently, it is engaged in 21 ongoing real estate projects, including 12 Integrated Townships, 3 Group Housing, and 6 Commercial Malls/office spaces/Hotels/SCOs.

Additionally, the corporation has effectively combined commercial excellence with social responsibility. Through the Omaxe Foundation, the corporation undertakes several CSR initiatives in the fields of health, education, and community development, among others.