Mumbai, India – February 29, 2024: Emaar India, a prominent real estate player, has disclosed its strategic plan to infuse a staggering one billion dollars over the next four to five years into the Indian real estate sector. The ambitious initiative aims to drive the development of real estate projects, with a substantial portion dedicated to the Gurugram region.
About Emaar India
Emaar India, a subsidiary of Emaar Properties, entered the Indian real estate market in 2005 in collaboration with MGF Development. After a demerger in 2018 and overcoming legal challenges, the company is poised for a significant expansion in key locations.
The News:
Emaar India plans to invest one billion dollars to launch approximately 8 to 10 million square feet of real estate this year. The investment will be spread across existing markets, with a focus on Gurugram, where pricing is anticipated to be above ₹8000 per square foot.
The company is currently operational in five locations – Lucknow, Mohali, Indore, Gurugram, and Jaipur. While exploring the possibility of acquiring land in new locations, the initial expansion will be concentrated in historically significant cities.
Emaar India is actively involved in several projects, including the Urban Oasis luxury project in Gurugram’s Sector 62. With an investment of ₹900 crores spread over four to five years, the project is progressing well, with the second phase slated for launch in the next six months.
The company has also launched the Emaar Business District in Gurugram’s Sector 83, with a planned investment of ₹150 crores. Multiple projects in Gurugram are in the approval stage, and the company is exploring the possibility of a greenfield project in Mumbai.
Emaar India’s substantial investment signifies a renewed commitment to India’s real estate sector. The expansion plans are poised to contribute significantly to the development landscape, providing quality housing and commercial spaces.
Conclusion:
Emaar India’s billion-dollar investment underscores its confidence in the Indian real estate market’s potential for growth. With a strategic focus on key cities and ongoing projects, the company aims to play a pivotal role in shaping the future of real estate development in the country. The infusion of funds is expected to create job opportunities, foster economic growth, and meet the rising demand for quality real estate offerings in India.
