Emaar-MGF brings large FDI to India

Inaugurating the India Office of Emaar-MGF in New Delhi on Thursday, Chairman of Emaar Properties, Mohamed Ali Alabbar said: "This joint venture is symbolic of the coming together of two countries to develop world class facilities, services and living spaces at a time when India is emerging as one of the world's favoured destinations for investments, market and tourism. We hope through the joint venture to be a part of this historical transition of India into a great global hub."

Speaking at the opening, Managing Director of Emaar-MGF, Shravan Gupta said, "This is an epochal moment for the Indian real estate industry. The partnership is not merely about investment. It is about bringing in technology, expertise and scale. We are looking at integrated communities and homes, which will make a real impact on the lives of the people.

With India poised to maintain a healthy seven per cent plus GDP growth over the next 20 years and the world beating a path to India, we believe that we can make a significant contribution in strengthening the infrastructure of the country. In a sense, this is the beginning of an infrastructure revolution, much akin to the telecom revolution which has changed the connectivity landscape of India in the past decade." The communities will be designed and constructed by architects and contractors of international standing and supported by various experts in the fields of planning, construction, transportation, utility, environment and other infrastructure.

Communities will include residential plots, town houses and villas along with convenient shopping, landscaped gardens, civic facilities and amenities. They will also provide for the opening of international standard offices and IT parks which in turn will give a fillip to industry, business and IT in the State. With a view to make available to residents medical care, education and recreation, some of the planned communities will have hospitals, schools and colleges.