Kolkata-based real estate developer, Merlin Group has announced the setting up of a sports township in Kolkata at an expected investment of ₹1000 crore.

The township, spread over 45 acre is coming up in the satellite township of New Town on the north eastern fringes of the city and will include sports academies (including internationally acclaimed ones).

As per a statement issued by the company, the project is expected to generate a direct employment of 7000 and indirect local employment of 25000.

The project will have 10000 flats; with the first phase being developed on a 16 acre of area consisting 2529 flats.

Around 20 per cent of the first phase of the sports township will be invested in developing sports academies and sports related infrastructural facilities that include Cricket Ground, Football Ground, Indoor sports area, swimming pool and a host of other amenities.

"We are in final round discussion with few Olympic champions, members of world cup winning team in football and cricket , world’s renowned soccer stars, legendary cricketers of India , internationally acclaimed swimmers for setting up their academies in our sports city,” said Saket Mohta, Managing Director, Merlin Group

The second phase of the project will Include a multispecialty hospital, a school of international repute, a retail block with hypermarkets from organized players and offices and co-working spaces.

According to Mohta; the Kolkata property market has remained resilient during the pandemic with l revival in residential real estate projects from Q2 of FY21.

“Sale of spacious flats in a gated community are anticipated to continue this quarter and beyond,” he added.