Apollo Hospitals has announced the development of a new super-speciality hospital in Dwarka, New Delhi. Secured through a land lease from the Delhi Development Authority (DDA), the project spans 9.33 acres with a long-term lease period of 55 years. The company will establish a Special Purpose Vehicle (SPV) to manage the development, which will feature an annual licence fee of Rs. 33.3 crore starting from the fifth year.
Project Overview and Strategic Location
Apollo Hospitals has unveiled plans to expand its healthcare footprint with a new facility in Dwarka, New Delhi. The project will be situated on a 9.33-acre land parcel, marking a significant expansion for the healthcare provider in the National Capital Region. The development is designed to provide comprehensive super-speciality medical services, catering to the growing healthcare demand in the area.
Development and Operational Structure
The company will implement the project in a phased manner. To oversee the execution and long-term operation of the hospital, Apollo Hospitals will incorporate a dedicated Special Purpose Vehicle (SPV). The project is governed by a 55-year lease agreement with the Delhi Development Authority (DDA), with the formal license agreement expected to be finalized within one year.
Financial and Lease Details
Under the terms of the agreement, the annual licence fee for the land is set at Rs. 33.3 crore. This payment structure includes provisions for annual escalations and is scheduled to commence from the fifth year of the agreement. This strategic investment is expected to strengthen the company’s infrastructure and solidify its presence in the competitive Delhi healthcare market.
Source: BSE
