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.
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.
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