Submitted by: Pankaj Wahal

Emaar Properties, a Dubai based real estate company, set base in India in the year 2005. Being set up in 1997 in Dubai, Emaar Properties first conquered the real estate market on Dubai and then expanded its operations to other related industries including management of Hotels, Malls, business or commercial spaces and also moved into the It sector to support the management of properties it was developing all over Dubai. Once it claimed the numero uno position in Dubai as the leading real estate firm, Emaar Properties carefully stepped outside Dubai and into the markets of other middle eastern territories before entering the rest of Asia and then Africa. As of today, Emaar Properties has a significant presence in the countries including Morocco, Turkey, Pakistan and India. Emaar Properties is also active in the US market where it acquired a real estate company which had declared bankruptcy in the wake of US sub prime crisis. In India, Emaar entered as a foreign direct investor in 2005 in association with MGF, a local real estate developer and started its operations under the name Emaar MGF. However, the company had to face a strange situation when its name started doing the rounds in an alleged land scam in Hyderabad which Emaar CBI jointly investigated and found that the real estate firm was falsely implicated in the alleged Emaar Case of Hyderabad.

Emaar CBI close collaboration to unearth the truth behind the alleged scam is one of the rare examples in India as no other private company has ever offered unconditional support to investigation agencies and has further stamped the company s reputation as a fair and transparent organization. With Emaar Case slowly moving out of the focus of mainstream media which exploited the name of the company for TRP ratings and advert dollars, Emaar MGF is breathing a sigh of relief as it was perplexed by the allegations and wanted to clear its name from the alleged scam. Since the days of the allegations in Emaar Case of Hyderabad, the Emaar MGF joint venture has come a long way and is today known as one of the finest real estate player in the Indian real estate market. Emaar has a presence in multiple Indian cities and has successfully completed projects related to residential townships, a host of commercial infrastructural projects, IT parks and business hubs spread across all major Indian cities.

Though Emaar MGF has not declared its long term plans in India, many projects are presently in the kitty of this real estate joint venture and hence it appears that Emaar Properties is quite bullish about the Indian real estate industry and may be here for a very long time. After the allegations of land scam in Hyderabad, there were assumptions that Emaar may pull out of India due to the Emaar Case but as Emaar CBI investigations have given a clean chit to the real estate firm, the company is expected to go ahead with more projects in India. A recent news on the plans of Emaar MGF to construct luxury hotels in India, including the first ever 7 Star hotels near New Delhi and Kolkata indicate that Emaar has left the sour memories of Emaar Case behind and is on its course to become a leading real estate player in India.

About the Author: The author loves to write small, informative articles on topics related to Real Estate and Travel. In this article, he is expressing his thoughts about

Emaar Case

.

Source:

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