The allegations of scandal by Emaar Properties in India

Emaar entered India with the hope of modernizing luxury real estate in India. They came in 2005 with a local partner in the form of MGF, a company that was already well established in India. They began their work in grand scale with an initial capital investment of $4 million in India. Their constructions began in New Delhi and now, Emaar’s properties in India have gone leaps and bounds beyond their expectations. Their case was being studied in major business schools across the country for the rapid success rate they had achieved. They have reached a level today that very few people can even think of replicating. But every success stories have small shake ups that cause a minor dent in the path of growing companies. And Emaar is no different.
Their reputation suffered an unnecessary blow in the city of Hyderabad. The Emaar properties scandal in Hyderabad is still in the balance. But the scandal paused Emaar’s activities in the state of Andhra Pradesh. The company continued to grow in all aspects still in all other cities and states of the country. Today, the company has moved beyond Hyderabad and is planning to enter newer markets. They are also planning to enter the untouched sectors of real estate i.e. commercial, retail and hospitality in India. The scandal may have left a question mark in the minds of many of their followers, but in their current activities one can clearly see the drive to regain that image of perfection and grandeur.

2005: Emaar’s Delhi Rendezvous

In 2005, India as a country would witness something that it had never seen before. Emaar, Dubai talisman organization, had decided to come to India and stamp its authority here. The first step would be to enter the capital of the country and make its mark there. In Delhi, Emaar would make its mark by building commercial and residential complexes. Soon they would begin to venture to the rest of the country, telling the country exactly what luxury living is supposed to be like.

But it was in Delhi that they established themselves in 2010. Building the Commonwealth games Village in 2010 was the achievement that would tie the organization to the good books of almost stakeholders in the Indian government. The structure would be the benchmark that the rest of the country could only aspire to reach for. They had created something this city hadn’t dreamt possible. After that rapid expansion in the city and its fringes followed. With more than 15 properties in all of Delhi N.C.R., Emaar’s Delhi property has been the most significant and profitable for the company. Their domestic partner MGF has also hugely benefitted from this partnership. As a result, today the entire country looks to the Dubai based real estate company for its needs in luxury. Be it residential, commercial, retail or hospitality, the company has made its mark in each of them and are considered the pioneers of the same. Emaar MGF’s time in India is going to be a very prosperous one for years to come it seems.