Hyderabad land scam notwithstanding, Emaar MGF is all set to become India’s biggest real estate developer

In 2005, Emaar entered the Indian market in an alliance with MGF Development Limited and bought a whooping sum of over half a billion dollars in the form of FDI, which was the biggest investment by a foreign company at that time in the Indian market. Taking up major developmental projects in all corners of the country covering major cities like New Delhi, Haryana, Punjab, Karnataka, Andhra Pradesh, Kerala and Maharashtra. Almost all the projects pertain to residential structures which includes private villas, services apartments and integrated township. Besides residential complexes, the real estate firm has built several commercial complexes, landscape gardens and even basic civic and public utilities.

In the city of Hyderabad, Emaar’s work was momentarily stalled as Emaar MGF along with APIIC or Andhra Pradesh Industrial Infrastructure Corporation was caught in a web of allegations pertaining to a township co-developed by both. Accusations of diluting public stake in the ill fated venture were made though the stakeholders have denied any involvement in the alleged Hyderabad land scam.

Unfazed by the minor hiccup in Hyderabad, Emaar still continues to be in the forefront of Indian real estate. The timely completion of its flagship project, the Commonwealth Games village has earned the praise of critics and competitors alike. Quelling fears of instability due to the Hyderabad fiasco, Emaar has announced the acquisition of prime location for building seven star hotels in the capital city and also in Kolkata. On the whole, Emaar MGF is all set to become the biggest player in the Indian real estate world.

Emaar Property scam in no way hinders Emaar MGF’s growth

Emaar Property scam or Emaar MGF scam in which Emaar was allegedly accused along with APIIC for undervaluing of land for Boulder Hills Township in Hyderabad is considered as one of the most overhyped case in the Indian real estate industry. State government run APIIC or Andhra Pradesh Industrial Infrastructure Corporation was entrusted with the task to build an upscale integrated community in the heart of the state capital, Hyderabad.  APIIC took in Emaar as a co-developer, thus capitalizing on Emaar’s extensive expertise on integrated community concepts. Built across 531 acres, Boulder Hills Township is constructed around an 18-hole golf course and offers the best of designs and quality. However, this dream project became shaky as rumours of irregularities in land acquisition started doing the rounds and media added more fuel to the fire by naming it Emaar MGF scam. However, the real estate developers have always claimed for non-involvement in any mal practice and have extended support to the investigating agencies.

Emaar MGF has come a long way from where it started in 2005 and still is the forerunner in Indian real estate development. Announcement to build and manage the finest seven star hotels in the capital city of New Delhi and Kolkata has made several market watchers to sit up and take notice of this global giant. Besides, the real estate developer has also charted it future with several big projects all across the country.

Emaar CBI seeks real culprits in Emaar Scam

Dubai based Emaar Properties is one of the leading real estate developer in the Indian subcontinent. Its Indian branch, Emaar MGF has developed scores of residential townships, commercial complexes and many other industrial infrastructures throughout the country. The famed commonwealth Games Village is one of the finest examples of Emaar’s finesse and elegant workmanship. Globally renowned for developing superb architectural masterpiece, the commonwealth games village in the capital city of New Delhi is just a drop in the vast ocean of Emaar’s wondrous creations with Burj Khalifa leading the index. Its just a matter of time before the Indian subcontinent is engulfed in an epic infrastructural makeover by the world foremost construction and real estate developer, Emaar Properties. From New Delhi to Chennai, no major Indian cities have been left untouched by Emaar’s glorious manifestations.

However, Emaar’s offshoot in the Indian shores, Emaar MGF was rift with allegations of involvement in one of the most infamous scandal in the construction industry of the country, Emaar Scam. Alleged Emaar scam centres around APIIC illegal acquisition of land for a luxurious residential township jointly developed by Emaar and Andhra Pradesh state run APIIC or Andhra Pradesh Industrial Infrastructure Corporation in the state capital, Hyderabad. The scandal caught the frenzy of media and it was hitherto christened “Emaar Scam”, raking in unwanted publicity for the global developer for no real fault of its own. Emaar has offered unconditional cooperation to CBI, the state investigating agencies. Together Emaar CBI seeks the real culprits and the motive behind the agenda of besmirching the impeccable repute of this world class builder.

Today, Emaar scam notwithstanding, Emaar has grown leaps and bounds in the Indian real estate industry. Scores of high end developmental projects all across major cities is a proof of Emaar’s long term interest in the Indian subcontinent.

Emaar CBI seeks real culprits in Emaar Scam

Dubai based Emaar Properties is one of the leading real estate developer in the Indian subcontinent. Its Indian branch, Emaar MGF has developed scores of residential townships, commercial complexes and many other industrial infrastructures throughout the country. The famed commonwealth Games Village is one of the finest examples of Emaar’s finesse and elegant workmanship. Globally renowned for developing superb architectural masterpiece, the commonwealth games village in the capital city of New Delhi is just a drop in the vast ocean of Emaar’s wondrous creations with Burj Khalifa leading the index. It s just a matter of time before the Indian subcontinent is engulfed in an epic infrastructural makeover by the world foremost construction and real estate developer, Emaar Properties. From New Delhi to Chennai, no major Indian cities have been left untouched by Emaar’s glorious manifestations.

However, Emaar’s offshoot in the Indian shores, Emaar MGF had a minor hiccup with allegations of involvement in an alleged scandal in the construction industry of the country, Emaar Scam. Alleged Emaar scam centres around illegal acquisition of land for a luxurious residential township jointly developed by Emaar and Andhra Pradesh state run APIIC or Andhra Pradesh Industrial Infrastructure Corporation in the state capital, Hyderabad. The scandal caught the frenzy of media and it was hchristened “Emaar Scam”, raking in unwanted publicity for the global developer. Emaar in its stance to clear its name has offered unconditional cooperation to CBI, the state's investigating agency. Together, Emaar CBI seek the real truth and the real estate firm hopes to maintain its impeccable repute.

Today, Emaar scam notwithstanding, Emaar has grown leaps and bounds in the Indian real estate industry. Scores of high end developmental projects all across major cities is a proof of Emaar’s long term interest in the Indian subcontinent.