Realty firm Omaxe Group will invest Rs 2,500 crore to develop a 50-acre commercial-cum-sports complex at Dwarka in the national capital to expand its business.
In a statement, Omaxe said it has launched the commercial project 'The Omaxe State' comprising sports complex, retail area and a hotel.
The company will build a cricket-cum-football stadium of global standards apart from indoor games facilities.
Spanning over 50.4 acre in Dwarka Sector 19-B, the project is being developed in partnership with the Delhi Development Authority (DDA) under a public-private partnership (PPP) model, with an investment of over Rs 2,500 crore.
"Delhi, the capital of India with a population of more than 3.3 crore, has long awaited a world-class cricket stadium," the company said.
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The project will feature a world-class, modern ICC and FIFA-standard international cricket-cum-football stadium with a seating capacity of over 30,000, as well as an international multi-sports indoor stadium that can accommodate 2,000 spectators.
The project Omaxe State will feature 5 districts -- The Sports District, The Shopping District, The Hospitality District, The Food District, and The Social District.
Omaxe will also build an exclusive invite-only sports and leisure club, a 75,000 square feet E-Sports arena, and a hotel with 148 keys.
"With 'The Omaxe State,' we aim to provide Delhiites with an international-level experience right here in their own city. This development will bridge a significant gap in Delhi's infrastructure by offering a world-class venue for sports, shopping, and entertainment," Mohit Goel, Managing Director of Omaxe Group said.
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The project is expected to be completed by 2027 and generate over Rs 4,200 crore in revenue during its lifecycle.
Founded in 1987 by Rohtas Goel, Omaxe began with construction and contracting and then became a real estate developer.
Listed on the NSE and BSE in 2007, Omaxe has delivered over 132 million square feet of realty space, including 21 group housing projects, 10 integrated townships, and 14 commercial malls, office spaces, hotels, and SCOs (shop-cum-offices).
The group has another 22 million square feet of space under construction, including 7 ongoing integrated townships, 5 group housing projects, and 7 commercial malls, office spaces, hotels, and SCOs.
It has operations in 29 cities across 8 states.
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