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Private Sector | Delhi - India | PID: 202764
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Worldstreet Sports Center, a wholly-owned subsidiary and special purpose company (SPC) of Omaxe, will develop an integrated multi sports facility in Dwarka area of Delhi. The project is being constructed under the public-private partnership (PPP) model with the Delhi Development Authority (DDA) at a cost of around Rs 1,500 crore.
The project will comprise an international cricket, football stadium, an indoor stadium, along with a retail and hospitality hub spread across 54 acres of land located in Dwarka's Sector-19 B. The project will include indoor and outdoor stadiums spread across 30-45 acres and retail space covering 20 acres. The construction cost will be funded through internal accruals, and a revenue of around Rs 2,500 crore is expected through the sale of retail units. The plan is to launch in the second quarter of the year.
As per the agreement, the company will develop an outdoor stadium with a minimum 30,000 seating capacity, while the indoor stadium is expected to have a capacity for 2,000 people. It will be used for hosting kabaddi, badminton, table tennis, chess, kickboxing, boxing and other events. An exclusive members-only club with modern amenities, a 108-keys hotel and a banqueting space, and multi-level car parking are also being planned. The club is expected to have a bowling alley, a boxing ring and a gymnasium, among other facilities. The retail portion will be a ground-plus-two levels structure, with a saleable area of around seven lakh sq. ft. on lease basis.
The commercial facilities will be developed and maintained by the company on a leasehold basis for 99 years. Omaxe had won the bid floated by DDA to develop an integrated multi-sports arena in Dwarka as a design, build, finance and operate and transfer (DBFOT) project.
| Updated on: 17 - Apr - 2024
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