NRI Real Estate and Property Investment in India
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Emaar-MGF announces Project Portfolio
Thursday, June 07, 2007

Emaar-MGF is on a major expansion spree with grand plans of real estate projects located across several Indian states. The package entails a total investment of USD 12 billion over the next five years.

Stepping up from residential packages which have already been initiated in Gurgaon and Mohali, the joint venture is now geared for an entry into Special Economic Zones, hospitals, schools and hotels.

The company has chalked out plans for 25,000 hotel rooms over the next decade, which would be divided over 10 luxury hotels and 100 budget hotels. The group has tied up with Accor of France for the economy hotels.

The 9 multi-product SEZs would be located in Haryana, Tamil Nadu, Andhra Pradesh and Karnataka. 50 hospitals and schools will also be constructed in all its townships.

The group’s first school is slated to start in Neemrana with a student capacity of 1800. The company is also exploring options for shopping malls, and is in the process of locating sites for these projects.

The group’s current projects include Palm Springs villas and apartments in Gurgaon and the Views in Mohali. The approval from the Punjab Government has paved the way for Emaar MGF’s mega residential project in Mohali. Emaar-MGF would be raising funds from the public by the end of 2007 to finance these projects.

The company plans to offload 15-20% of its equity to raise USD 1.1 billion

Related Reading

Emaar-MGF tie-up with Premier Inn for Budget Hotels
Emaar-MGF Emerges Sole Bidder for C’Wealth Games Project
Emaar-MGF’s Mohali Project Takes Off


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