Submitted by: Pankaj Wahal

Emaar Properties set up operations in India in the year 2005 with domestic partner MGF thus forming Emaar MGF. Since then, Emaar MGF has been gaining popularity in the Indian market for its unique concepts and ace customer services. Globally renowned for on time delivery, Emaar MGF won the appreciation of the Indian masses and critics on completing the famed Common Wealth Games Village before schedule and meeting international standards. In 2011, one of Emaars venture in Hyderabad undertaken along with APIIC went haywire as allegations were made against the property developer for undervaluing lands for a luxurious township. This controversy came to be known as Emaar MGF scam in mainstream media.

APIIC or Andhra Pradesh Industrial Infrastructure joined Emaar in developing a luxurious upscale neighbourhood in Hyderabad. Hyderabad is fast emerging as a modern city and APIIC has undertaken the sole responsibility of developing its infrastructure to international standard and in conjunction with this vision, APIIC planned a luxurious community that was envisioned to be a self sustainable unit with residential units, hotel, shopping mall, parks and even a leisure golf course. Emaars extensive expertise in developing integrated community was roped in and construction started on the Boulder Hills Township in full swing. However, the project went awry and Emaar MGF was blamed for no fault of its own while the real culprits are writ large. In a bid to bring the culprits to justice, Emaar has offered all necessary support to the investigating agencies and this cooperation between CBI Emaar has shed the first light of reasons into the alleged Emaar MGF scam. Ongoing CBI investigation has cleared the role of the real estate developer and served summons to several APIIC officials showing the true side of Indian bureaucracy. Meanwhile, CBI Emaar still work together to bring the real culprits to book.

Given its impeccable repute, such controversy and allegations cannot hinder the ever expanding empire of this real estate giant. Tracing its origin in Dubai, Emaar Properties is one of the most reputed real estate developers in the Middle East. Post consolidating its empire in Dubai, Emaar Properties started successful operations into all other Middle Eastern countries like Syria, Eqypt, Saudi Arabia, Jordan, Morocco etc. With the overwhelming response in the Middle east, Emaar slowly started expanding beyond the Middle East to Africa and Asia. It even set up operations in United States of America and Great Britain amongst the developed nations of the world. The expertise of Emaar Properties as a builder has found manifestation in the architectural wonder Burj Khalifa. Adding another chapter in its success story, Emaar constructed and managed the world largest shopping mall in the world, the Dubai Mall which is also one of the best recreational and entertainment hub in the world and host the Dubai Shopping festival every year. With such testimonials to its name, it is no wonder that Emaars entry into any market is not free from controversies and allegations. Though it cannot sway the real estate developer from its path, it does result in the lost of productive construction time.

Today, Emaar MGF has come a long way from the alleged Emaar MGF scam and thrives in a market which is opening up to the concepts of innovative lifestyle.

About the Author: The author loves to write small, informative articles on topics related to Real Estate and Travel. In this article, he is expressing his thoughts regarding

CBI Emaar

.

Source:

isnare.com

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