Emaar case is often referred to as one of the biggest hassle in the country’s real estate development sector. A case that has been more hyped by media and local politicos alike, the name bestowed upon this scam surely overshadows the real culprit in the case. Although Emaar Properties has denied all allegations in the Emaar case, it had to suffer undue embarrassment just because the firm name is globally renowned and take precedence over anything. Unwittingly, Emaar became involved in allegations of breaking rules of engagement with state partner, APIIC (Andhra Pradesh Industrial Infrastructure Corporation). The global enterprise has been allegedly accused of dilution of public stake in a residential township project in Hyderabad, the capital city of Andhra Pradesh. Though not the primary accused in the case, media and local politician fuelled the fire by christening the scam as Emaar case. In response to all the mudslinging, Emaar MGF offered all possible cooperation to the Central Bureau of Investigation (CBI) in its quest for the real culprits. And to certain extent, Emaar MGF CBI corroboration has established that Emaar Properties or Emaar MGF had no role to play in the scam. Instead several government officials have been served summons as a result of extensive cooperation between Emaar MGF CBI.

Tracing its history to 1997, Emaar Properties was founded in the emirates of Dubai and listed there as a Public Joint stock company. Since its inception Emaar Properties has established itself rapidly as the premier construction and real estate developer in the entire Middle East. Its role in the development of Dubai in the realm of construction and real estate development has been recognised all over the world. Hospitality, retail, education, healthcare, financial investments are few operational bases that Emaar has besides the core business of real estate development. Dubai, 30 years ago is a far cry from the present day Dubai, which is a representation of global enterprise hub. The world famous Burj Khalifa, the largest functional mall, Dubai Mall, the beautiful multibillion desert wonderland of Arabian Ranches, and the much admired waterfront properties of Dubai marina are few examples of Emaar magnificent contribution in the scintillating Dubai skyline. With more than 50 active companies under its span of control, Emaar today, has market presence in more than 16 countries including the entire Middle East, Africa, America, England, India and Pakistan. The enormous success in developing Dubai’s landscape and the entire Middle eastern countries like Syria, Lebanon, Turkey has lead Emaar to expand its horizon beyond the realm of real estate development in the global scenario.

In India, Emaar’s entry created a ripple in the Indian real estate market. Besides bringing a rich dowry of half a billion US dollars in the form of FDI or Foreign Direct Investment, the marriage between the global brand Emaar Properties and domestic market leader, MGF Development Limited made many players sit up and take notice. A global brand name associated with iconic structure and unsurpassed luxury concepts, and adding to it, the backing of a premier domestic real estate player served as a potent combination, making the journey of Emaar MGF not free from turbulence. A fine example of one such turbulence is the Emaar case. Barring the minor hiccup of Emaar case, Emaar MGF still continues to make waves in the Indian market.

I am a freelance writer and enjoy writing small, informative articles on topics related to Real Estate and Travel. This article is about Emaar Case.

I am a freelance writer and enjoy writing small, informative articles on topics related to Real Estate and Travel. This article is about Emaar Case (http://goarticles.com/article/Emaar-The-Trendsetter-in-Innovative-Living-Concepts-in-Spite-of-Alleged-Emaar-Case/7448032/).

Author Bio: I am a freelance writer and enjoy writing small, informative articles on topics related to Real Estate and Travel. This article is about Emaar Case.

Category: Real Estate
Keywords: Emaar Case, Emaar MGF CBI, Emaar CBI, CBI Emaar