Emaar India

Emaar India is a real estate developer principally engaged in promotion, construction, development and sale of integrated townships, residential and commercial multi storied buildings, houses, flats, shopping malls, hotels, and other developments. The company develops residential and commercial projects in different parts of India, including Gurugram, Delhi/NCR, Mohali, Lucknow, Chennai and other Indian cities.[1] The company's registered name is Emaar MGF Land Limited.[2]

Emaar India
Private
IndustryReal estate
FoundedFebruary 2005
Headquarters
Delhi
,
India
Key people
MD-Hadi Badri, CEO- Ajay Munot
ParentEmaar Properties
Websitewww.emaar-india.com

Emaar India started its operations in 2005 and has been known for bringing in the largest foreign direct investment in the construction-development sector of India.[3] The Company is promoted by Emaar Properties PJSC, Dubai (“Emaar”).[4] Being a subsidiary of Emaar, the company is also controlled and managed by Emaar in India.

Emaar is a public company established in 1997 under the laws of Dubai, UAE and is listed on the Dubai Financial Market. Its market capitalization is over US$14 billion and assets are valued at over US$26 billion.[5] It has developed master-planned communities internationally, and is present in several key global markets like the Middle East, Africa, Asia, Europe, USA and Canada.

Emaar's flagship development Downtown Dubai hosts properties like the Burj Khalifa, The Dubai Mall and The Dubai Fountain. It has also developed residential projects like Arabian Ranches, Emirates Living, and Dubai Marina.

History

On April 11, 2016, Emaar Properties terminated its joint venture with MGF Developments.[6] Following this, Emaar MGF Land Ltd filed the demerger scheme in Delhi High Court on May 16, 2016.[7]

In August 2017, Emaar India stated that it has appointed of Snapdeal’s Chief Strategy & Investment Officer Jason Kothari and Sudip Mullick of the law firm Khaitan & Co to the board of directors.[8]

Emaar India communicated to its customers about initiating the process of demerger of the Company pursuant to a Scheme of Arrangement under Section 391-394 of the Companies Act, 1956 and filing such Scheme with Delhi High Court. To assure its customers about completion of ongoing projects, it also shared the target Completion schedules for all projects with achievement of specific milestones and uploaded the same on its website.[9]

Emaar revamped its project management team to speed up execution and delivery of over 50 projects that were stuck due to the impending demerger between the two parent companies. The developer hired over 100 additional employees in the Project Management space.[10] The developer increased its workforce to 10,000 labourers at the time of initiating the demerger process.[10] By September 2017, the labour headcount was more than 15,000 labourers.[11]

Projects

Hyderabad International Convention Center

Opened in December 2005, the Hyderabad International Convention Centre is a convention facility in Hyderabad.[12] It was built by Cyberabad Convention Center Private Limited (CCCPL), a joint venture between the Dubai-based Emaar Properties and the (APIIC). Stretching across 15 acres (61,000 m2), the HICC is an integrated 291,000 sq ft (27,000 m2). facility managed by Accor. Located next to the HICC is the Novotel Hyderabad hotel, which opened in May 2006. The 287-room business hotel has also been developed by Emaar, and is managed by Accor. HICC offers 4,000 seating capacity with an in-built flexibility to expand to 6,500 seats. The HICC, built at a cost of US$39 million and the Novotel Hyderabad at a cost of US$27 million together constitute a total project investment of US$66 million. HICC is located adjacent to HITEC City, home to large national and international technology companies.

Commonwealth Games Village 2010

Among the initial projects to be completed and handed over, the Commonwealth Games Village is a purpose built, self-contained premium residential community developed by Emaar India. Located next to the Akshardham Temple and close to Connaught Place, it was developed for the 2010 Commonwealth Games under a project development agreement with the Delhi Development Authority.[13]

Awards

2017
  • Emaar India has won 4 awards at the DNA Real Estate & Infrastructure Awards 2017, in Mumbai - 'Developer of the Year - Residential', 'Employer of the Year Real Estate', 'Residential Property of the Year' for its Emerald Hills project, and 'CSR Initiative of the Year by a Real Estate Firm' for its creche program ‘Guardians of Hope’.[14]
  • Emaar India has won 2 awards at the 9th Realty Plus Conclave and Excellence Awards 2017 - 'Developer of the Year' in the Residential category, and 'Green Project of the Year for Digital Greens'.[15]

2016
  • Emaar India has won the ‘Residential Project of the Year’ award for The Palm Drive (Gurgaon) at the DNA Real Estate & Infrastructure Awards 2016.[16]
  • Emaar India has won 2 awards at the 8th Realty Plus Conclave and Excellence Awards 2016 - 'Luxury Project of the Year - The Palm Drive’ and ‘Commercial Property of the Year - The Palm Springs Plaza’.[17]
  • Emaar India has won The Palm Drive, Gurugram wins ‘Residential Project of the Year’ at DNA Real Estate Awards 2016.
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References
  1. "Emaar Story". Emaar India. Retrieved 2017-10-05.
  2. "Real Estate Company - Buy Residential & Commercial Properties in India | Emaar India". emaar-india.com. Retrieved 2018-01-30.
  3. Babar, Kailash (2017-03-28). "Emaar India raises Rs 2,500 crore to fast track projects". The Economic Times. Retrieved 2017-10-05.
  4. "Emaar Properties PJSC | Global Property Developer". www.emaar.com. Retrieved 2017-10-05.
  5. "Emaar Story | Emaar India". emaar-india.com. Retrieved 2017-10-05.
  6. Nandy, Madhurima (2016-04-13). "Dubai's Emaar ends 11-year old JV with MGF Developments". Livemint. Retrieved 2017-03-02.
  7. "Emaar MGF files demerger scheme in Delhi High Court – Times of India". The Times of India. Retrieved 2017-03-02.
  8. ET Realty. "Emaar India appoints Jason Kothari & Sudip Mullick as independent directors". www.etrealty.com.
  9. indiainfoline.com. "Emaar MGF offers new timeline for project completion". Retrieved 2017-03-02.
  10. "Emaar revamps project teamto fast track over 50 projects – The Economic Times". The Economic Times. Retrieved 2017-03-02.
  11. ANI (2017-09-02). "Emaar India to deliver 11,000 flats by 2018 in Haryana". Business Standard India. Retrieved 2017-09-14.
  12. "Hyderabad International Convention Centre". Archived from the original on 2013-11-24. Retrieved 2013-12-13.
  13. "EmaarMGF CWG Projects". Archived from the original on 2015-02-13. Retrieved 2017-10-06.
  14. ANI (2017-11-29). "Emaar India wins Developer and Employer of the Year awards". Business Standard India. Retrieved 2018-03-21.
  15. "Emaar India named 'Developer of the Year'". Retrieved 2018-03-21.
  16. "Emaar India bags industry honour at DNA Real Estate Awards 2016". Retrieved 2017-03-02.
  17. "Award Winners | 2016 | North 2016". rp-awards.com. Retrieved 2018-03-22.
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