Emaar on its way ahead

Emaar Properties, based in Dubai tied up with Indian real estate giant, MGF Development limited in 2005.  Since then, they have established themselves as one of the key players in Indian real estate sector. The Indian real estate sector was rapidly growing at a rate of 20 percent every year and was contributing 5.6 percent to overall GDP of the economy. Emaar initially focused on the residential real estate sector which was growing at 19 percent per year. Emaar was planning new residential plots all across the country and till date has developed more than 15 luxury residential complexes in various metropolitan cities. Being already an established name in Dubai real estate sector, Emaar has very strong backing and thus expectations were high. The Commonwealth Games village was their first project in India and was successfully completed in 2010. With its completion, Emaar has established a niche for itself in the Indian real estate sector.

With its success story in Delhi and NCR, Emaar is planning various new projects in other states of India. But, state of Andhra Pradesh became off-limits for Emaar-MGF  because of the Emaar Properties case that took place in 2011. Allegations have been made against the company for breaking the rules of engagement with its state partner, the APIIC (Andhra Pradesh Industrial Infrastructure Company). The CBI summons have been issued and investigation is ongoing. The company has done various awe-inspiring works in India. They have established themselves at par with other leading real estate developers in the country. With numerous projects planned all across the country, it seems the company will move in the forward directions only.