Omaxe gets 50.40 acres land for sports complex at Dwarka

25 Aug 2022 CW Team

Realty developer Omaxe Ltd has acquired 50.40 acres of land at Dwarka from the Delhi Development Authority (DDA) to develop an indoor and outdoor sports facility, including a cricket stadium and commercial complex, with a total investment of Rs 21 billion, a senior executive said.

Omaxe has won the bid to develop the commercial complex to provide expertise in shopping, dining, and sports-allied activities. The company did not disclose the cost of acquisition but according to a DDA official, it will pay Rs 180 million to the authority every year for 30 years.

“This will be the first sports facility to be developed by DDA in PPP (public-private partnership) model. We will develop a world-class cricket stadium and sports complex in this project,” said Rohtas Goel, Chairman, Omaxe Ltd.

Omaxe, which is into real estate development in metro cities as well as tier 2 cities, has started focusing on government projects of redevelopment or PPP model.

The project is located next to upcoming India International Convention Centre (IICC), a project of the Government of India, being developed to create a state-of-the-art and world-class exhibition and convention centre to promote meetings, incentives, conferences and exhibitions (MICE).

As per the agreement, Omaxe is required to develop an outdoor stadium with minimum 30,000 seating capacity for both cricket and football, multi-sports indoor facility with 2,000 seating capacity and other sports facility such as an Olympic size swimming pool, tennis, badminton, squash and table tennis.

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..