Emaar MGF Launches Grand Integrated Project in Hyderabad
Emaar MGF Land Ltd, a prominent real estate developer in India, has unveiled its ambitious "Boulder Hills Golf & Country Club" project in Hyderabad. This integrated leisure and residential community represents a significant investment of Rs 5,610 crore. The expansive development will encompass a diverse range of offerings, including residential units, commercial spaces, retail areas, IT parks, special economic zones, and luxury and boutique hotels. Multiplex Construction India Pvt Ltd, a joint venture between Emaar MGF and Multiplex Ltd, will undertake the construction of this impressive project.
A Landmark Project for South India
During the project's launch, W. R. Rattazi, CEO of Emaar MGF, emphasized its importance, stating, "It is a landmark project for the company in south India." Spread across 531 acres, Boulder Hills marks South India's first integrated world-class leisure and residential community centered around an 18-hole golf course. Designed by renowned third-generation golf course architect Peter Harradine, the 192-acre championship golf course aims to host prestigious European PGA Men's and Ladies' events.
Project Development and Market Reception
The initial phase of the project will focus on the development of 703 residential units, comprising a mix of single and multi-family dwellings, with an estimated completion time of three years. The project's launch has already generated palpable excitement in the market. Demand has been exceptionally high, evident in the fact that the premium apartments and luxury villas planned within the development have already been completely sold out.
Emaar MGF's Expansion Plans
Currently, Emaar MGF is engaged in eight different projects across South India. The company projects a significant expansion in the region over the next few years. The group plans to develop 31 million square feet of property across ten locations, backed by a planned investment of three billion dollars. This commitment is supported by a substantial land bank of 1,500 acres in key locations such as Hyderabad, Tirupathi, Chennai, Coimbatore, Kochi, Mysore, and Mangalore. Nationwide, the company boasts an impressive land holding of 13,000 acres. Emaar MGF also intends to expand its reach from its current presence in 26 cities to 40 cities within the next 4-5 years.