Emaar MGF Scam : False Allegations Against Real Estate Giant

Emaar MGF was formed in 2005 by the merger of two of the best real estate developers; world famous Dubai based Emaar Properties and Indian MGF Development Limited with operations limited to the Indian subcontinent. Launched in style, Emaar MGF announced the largest FDI (Foreign Direct Investment) amounting to more than half a billion US dollars that the Indian real estate industry has witnessed at that time. With a huge start capital of 4 billion US Dollars, Emaar MGF pioneered several mega projects in several major Indian cities. With the coming of Emaar MGF, there has been marked increase in luxurious township and commercial complexes in these cities. Innovative building concepts, master architecture and scheduled delivery are the forte of this mega player. The Commonwealth Games Athlete village in the capital city of New Delhi is one of the most remarkable ventures taken up by Emaar MGF. The ultra luxurious and self sustaining village projected the capital city into International limelight winning appreciation from all quarters including critics and competitors alike.

Hyderabad, the land of Nawabs has not been alien to Emaar's glory. The country's largest convention centre, HICC (Hyderabad International Convention Centre) is a manifestation of Emaar superb building technology. The 4000 seating capacity centre has an inbuilt flexible arrangement that can take the numbers upto 6000 seats. Besides HICC, Emaar redefined the art of luxury hospitality with its magnificent creation, Novotel Hyderabad Hotel. Another milestone is the ultra luxurious gated community of Boulder Hills Township. Spread across 530 acres, the luxurious residential community consists of villas, apartments, a boutique hotel surrounded by a picturesque 18-inch championship golf course. This luxurious township is a joint venture between Emaar Properties and Andhra Pradesh Industrial Infrastructure Corporation (APIIC), a state run corporation. The Infamous Emaar MGF scam centres around this township project. Emaar Properties was allegedly accused of breaking the rules of engagement with its state partner, APIIC. Such baseless allegations did not stood a chance and soon thereafter, CBI investigation did not find any such wrong dealings by the global real estate developer Emaar. Through extensive investigations and summons by the state investigating agency CBI, Emaar has been able to clear its name from this controversial allegation. CBI investigation of Emaar MGF scam has revealed more facets of the case which were earlier neglected and it is emerging that the global giant may have been falsely implicated in the controversy by people with mal intent.

Undeterred by such false accusations, Emaar continues to dominate the Indian real estate industry with several promising ventures throughout the country. With multiple new projects, Emaar clearly shows its long term plans in the India. From sprawling commercial complexes to luxurious residential township all over the country, Emaar Properties announces its grand schemes. New Delhi and Kolkata has been selected as prime location to built 7 star hotel by Emaar. Not only this, Emaar has announced its intention to start facilities management in the hospitality sector. It now remains to be seen how Emaar makes its place among the already established hospitality management firms.

The author loves to write small, informative articles on topics related to Real Estate and Travel. In this article, he is expressing his thoughts about Emaar MGF Scam.

The author loves to write small, informative articles on topics related to Real Estate and Travel. In this article, he is expressing his thoughts about Emaar MGF Scam ()

Emaar Scam Accused Extend Full Cooperation As Dubai Developer Criticizes Media for the Undue Hype

The alleged land scam in Hyderabad may have moved away from the media limelight but the real estate company which is supposedly implicated in the controversy is determined to clear its name from the scandal by extending full support to the agencies investigating the so called land scam. The Emaar scam accused has shown great determination in extending full and unconditional cooperation with the agencies and is helping the investigation to solve the case at the earliest. While the investigations are ongoing and initial investigations have revealed that the real estate firm may have no role to play in the entire fiasco, the Dubai developer criticizes the media for creating such hype about the alleged scam without verifying the facts and for indulging in sensationalism. The case is pending and thus far no charges have been framed against any official of the real estate firm. The media interest in the alleged controversy has now dwindled down but the company is not taking any chances and is going all out to get a clean chit from the investigating agencies.

Emaar is one of the leading real estate firms around the world is reputed to be the most efficient, cost effective and technologically advanced firms in the real estate domain. Testimony to Emaar Properties expertise in real estate lies in the successful completion of some of the mega construction projects of the modern day world. The famed Burj Khalifa, the tallest building in the world was constructed by Emaar properties and has further stamped its position as the leading real estate firm across the world. Adding another feather to the cap, Emaar Properties finished constructing The Dubai Mall within stipulated timelines and to the appreciation by real estate players around the world. The Dubai Mall is known to be the biggest functional mall in the world based on total area covered though the leasable area falls short of some other new malls developed around the world. It was after conquering the Dubai market that Emaar decided to spread its wings to nearby regions of Middle East and rest of South Asia and marked its presence in countries like Egypt, Syria, Jordan, Turkey, Morocco, Africa, Pakistan and India. And so far, Emaar success stories in tapping the market of these emerging world economies have been unbridled. The success Emaar has received in the Asian market is expected to be replicated around the world and Emaar has already step foot in the US market.

The Indian real estate market had always been attractive to foreign players but strict rules guiding the entry of international real estate giants prevented the entry of Emaar in the Indian market. However, since the liberalization period, the Indian government had been systematically opening up its economy and once the real estate market was opened for foreign investors via direct foreign investment or FDI, Emaar finally entered the scene in 2005 and has not looked back since. With a score of world class projects already completed, Emaar has already proven why it is known as the world's most efficient and reliable developer.

I am a freelance writer and enjoy writing small, informative articles on topics related to Real Estate, Travel, IT products for SME and sometimes about my experience with Hotels as well.

I am a freelance writer and enjoy writing small, informative articles on topics related to Real Estate, Travel, IT products for SME and sometimes about my experience with Hotels as well.