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Emaar Scam Sees Emaar CBI Working Together In Search Of The Real Culprits

Emaar Scam may no longer be in the active media glare for want of evidence, however, Emaar CBI together continue the search for the real culprits, if any. Initially, when the controversy became public, everyone was consumed by the magnitude of malpractice and refused to see the truth behind the alleged involvement of the innocent real estate firm, Emaar and its Indian offshoot Emaar MGF. When the initial furore died down, it slowly emerged that the real estate giant may have been falsely implicated in the alleged Emaar scam, as it being the only famed name in the project. CBI investigations too support the claim of innocence of the real estate firm as no evidences have been found to counter it. In this regards, the co-operation between Emaar CBI is notable and has earned praises for the real estate developer for it unrestrained support to the law of the country.

Emaar entered India in 2005, partnering MGF Development Limited. While Emaar is famed all over the world for its architectural magnificence, MGF is one of the market leaders in retail real estate development in Northern India and has developed more than 2 million square feet of retail space. With operations encompassing leasing, hiring, purchasing and developing real estate, MGF has made a name for itself in the growing retail real estate sector. Some notable ventures of MGF include City Square Mall and MGF Metropolitan Mall in Delhi, The Villas and Megacity Mall in Gurgaon amongst other. Emaar joined MGF forming Emaar MGF, and thus brought together two of the most well suited experience players in its realm. Since its formation, Emaar MGF has started several projects in all the major Indian cities. New Delhi, Gurgaon, Punjab, Kolkata, Chennai, Kerala, Karnataka and Maharashtra saw a unprecedented rise in residential and commercial complexes, few of which has been developed by Emaar MGF. Gurgaon being the centre of its operational hub saw the largest number of high rises both residential and commercial in the short span of 8 years. Contemporary designs, sound architecture and world class amenities are the highlights of properties developed by Emaar MGF. Few Examples are the swanky Palm Square in Gurgaon, premium residential community of Commonwealth Games village in New Delhi, elegant apartments of Esplanade in Chennai and luxury villas of Boulder Hills in Hyderabad etc.

Unfazed by the negative publicity and false allegations, Emaar MGF continues its construction business in full swing. Besides projects that are already underway, Emaar MGF has bagged several coveted development ventures all over the country. Its recent announcement to develop and manage seven star hotels in prime location has created a furore in the hospitality management sector. It is to be noted here that Emaar has extensive expertise in hospitality management which can be seen from the fully functional Dubai mall in Dubai. In India, it remains to be seen how successful the venture can be with several established players vying for the number one position, and if trade pundits are to be believed, it is not long before this real estate developer change the face of real estate development on Indian shores.

About Author Ankit Dua :

The author loves to write small and informative articles on topics related to Real Estate and Travel. In this article he is expressing his thoughts regarding a property scam that took place in Hyderabad.(<a href="" target="_blank"></a>)

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Article Added on Monday, May 26, 2014
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