Emaar Properties Case Hardly Affected Emaar Mgf, Cbi Continues Investigations

Submitted by: Pankaj Wahal

Emaar MGF combined has seen its own share of controversies in the Indian real estate market, as has any major corporation setting base in India. With the Indian market plagued with corruption and red tape, almost all new entrants in the market learn the market dynamics the hard way. Emaar, which entered Indian scene after FDI was allowed by the government of India in the real estate sector, partnered MGF as its local ally in the real estate industry and started business as usual. As Emaar is known for its efficiency and capabilities around the world, it was no surprise that since 2003 Emaar MGF combined worked upon and successfully completed multiple projects with perfection and in a timey fashion. However, in the city of Hyderabad, Emaar MGF ran into a little bit of trouble when allegations were made against APIIC, Andhra Pradesh Industrial Infrastructure Corporation, that the government body may have connived with corrupt official to undervalue the land to give the real estate giants undue advantage. This controversy is better known as the Emaar properties case in the media reports.

Unperturbed by the alleged involvement in the case, the growth of this real estate giant in the real estate market in India has been phenomenal. A host of new projects are being worked upon by Emaar MGF, CBI is still investigating the allegation and has not found any evidence against the real estate giant. Leaving the sour memories of Emaar properties case behind, the joint venture of Emaar & MGF have been scaling the heights of success in the Indian real estate industry with scores of projects bagged by the company all across India. One of the most famous projects of Emaar MGF in India has been the famed Common Wealth Games Village in the capital city of India, New Delhi. This project, though delayed initially due to issues with clearance from government, was successfully completed by Emaar MGF ahead of schedule, something which is rarely accomplished in India considering the delays from government authorities in giving clearances of multiple kinds.


The success of Emaar MGF in India is hardly a surprise considering the reputation of the company all over the Asian market. Based in Dubai, where it was set up in the year 1997, Emaar is the single largest real estate and property management company in Dubai. After taking the Dubai market with a storm and with architectural wonders like the Burj Khalifa, the tallest building in the world, and The Dubai Mall, arguably the biggest functional mall in the world, Emaar went all out to other nearby markets of Middle East as well. Once its prominence in the Middle Eastern market was established, Emaar moved on to countries like Morocco, Turkey, Syria and finally to the Indian subcontinent with multiple projects in India as well as the Islamic Republic of Pakistan. In the Indian real estate sector, Emaar, along with its partner MGF, is presently working on ambitious projects like launch of India s very first 7 Star hotels which Emaar MGF plans to not only construct but also manage after completion. Emaar properties case, it appears, seems to have no impact on Emaar s ambitious plans in India.

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Emaar Properties Case




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