India, Aug. 14 -- The Delhi Development Authority (DDA) has signed an agreement with Juniper Hotels Ltd to develop a 5-star hotel in Sector 23, Dwarka, in a move aimed at strengthening the sub-city's position as an economic, commercial and investment destination. The agreement was signed on August 12 in the presence of DDA Vice Chairman N. Saravana Kumar. The project, to be developed by Juniper through its subsidiary Juniper Hospitality Assets Private Limited on a licence fee basis, is expected to attract capital investment of more than Rs 1,000 crore and create around 800 direct employment opportunities. Also Read - 12-year-old girl on way to I-Day function killed as DTC runs over scooter in east Delhi The property will overlook DDA's Dwarka Golf Course and is located near the Yashobhoomi Convention Centre, Dwarka Sports Complex and the proposed Diplomatic Enclave. Its location is expected to strengthen Dwarka's hospitality and tourism ecosystem and cater to business travellers, visitors, tourists, golfers and the proposed Diplomatic Enclave. The project is one of four special licence-fee projects auctioned by DDA over the past year and is the first for which the Authority has formally executed a licensing agreement. The site will soon be handed over to Juniper. Over the 55-year licence period, the hotel is projected to generate more than Rs 6,000 crore in revenue for DDA.
Published by HT Digital Content Services with permission from Millennium Post.