Emaar Properties, a Middle Eastern Real Estate Leader, to Inject $150 Million in Indian Ventures
Strategic Investment in Indian Real Estate
Emaar Properties, a renowned real estate company in the Middle East, is set to invest $150 million in India. This strategic move involves acquiring a 20-25% stake in three prominent real estate developments within the country.
Background: Emaar MGF Joint Venture
In 2005, Emaar Properties and MGF Developments of India formed a joint venture, Emaar MGF. This collaboration has yielded India's largest foreign direct investment in real estate, with projects valued at a combined US$1 billion.
New Developments: Three Special Purpose Vehicles
Emaar is now planning to establish three separate special purpose vehicles (SPVs). These SPVs will oversee the development of:
- Two Retail Properties
- One Office Property Located in Gurgaon and Mohali, these projects mark a significant expansion of Emaar's presence in the Indian real estate market.
Emaar MGF Joint Venture Stakeholders
- Emaar Properties: Holds 41% in the Emaar-MGF joint venture
- MGF Developments: Holds 56% in the Emaar-MGF joint venture