Emaar Properties To Inject $150 Million In India

Emaar Properties, the leading real estate company in the Middle East, is set to inject $150 million for a 20-25 % stake each in three real estate developments in India.
According to Company spokesperson Emaar and MGF Developments of India set up a joint venture in 2005 called Emaar MGF, which presently accounts for India’s largest foreign direct investment in real estate through projects with a combined development value of US$1bn.
Emaar is now considering establishing three separate special purpose vehicles which will then develop two retail properties and one office property in Gurgaon and Mohali.
Emaar holds 41% in the Emaar-MGF joint venture while MGF holds 56%.

This entry was written by rajani, posted on July 16, 2008 at 11:22 am, filed under Property News and tagged , , , , , , , , , , , , , , , , . Bookmark the permalink. Follow any comments here with the RSS feed for this post. Trackbacks are closed, but you can post a comment.

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