Dubai-based Emaar has committed a USD 150 million fund to real estate developer Emaar MGF, reports Business Standard.
The funding will be by way of Emmar buying stake in some of the projects of Emaar in India. The projects will be a mix of residential and commercial projects.
The company had announced plans to develop 566 million sq ft during the next 10 years in India, of which about 455 million sq ft would be residential, 90 million sq ft would be commercial and 18 million sq ft would be retail.
Emaar MGF Land is primarily a developer of properties in the residential, commercial, retail and hospitality sectors.
Source : myiris.com
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