Emaar mgf, cbi continue to work together to unearth the real culpritsin Emaar scam

Emaar Properties started its operation in India with a joint venture with India’s very own real estate developer MGF development Limited and gave birth of Emaar MFG in 2005. With a huge capital outlay of more than 4 billion US dollar, Emaar brought the largest FDI amounting to over half a billion US dollars which was the largest of its kind at that time. Since then, Emaar MGF has been unstoppable. Many major Indian cities including capital city of Delhi, Gurgaon, Mohali, Hyderabad, Maharashtra, Karnataka, etc. have been touched by Emaar’s ever increasing tentacles. The creator of several magnificent architectural wonders like the Burj Khalifa and Dubai Mall, Emaar added another feather in its cap with the completion of world class 2010 Commonwealth Athlete games village in the capital city of Delhi. The exceptional architectural designs and on time delivery earned praises from all quarters including critics and rival companies. With this feat, Emaar established itself as one of the chief builder in the country.

Emaar MGF continued to add cities after cities in its list of conquest. However in 2011, Emaar MGF’s boat was rocked with an allegation of undervaluing land in a bid to dilute public stake in Andhra Pradesh Industrial Infrastructure Corporation Limited (APIIC) dream project in Gaichibowli, Hyderabad. Emaar scam accused have denied all allegations and investigations are ongoing into the controversy.  Leaving the scam behind, Emaar properties have announced several long term projects all across the country.