CBI Emaar have been closely working together to investigate and put the Emaar Scam accused to justice in the alleged land scam in the capital city of Andhra Pradesh. In Hyderabad, an ambitious plan was envisioned by the government to construct a luxurious residential township and APIIC or Andhra Pradesh Industrial Infrastructure Corporation was offered the project. In order to construct this mega project, Andhra Pradesh Industrial Infrastructure Corporation invited bids from real estate firms and finally Emaar MGF was roped in to construct the township as a joint project with the state owned Andhra Pradesh Industrial Infrastructure Corporation. However, soon enough, allegation of a scam started doing rounds and media apparently opted to not wait for any information and declared Emaar scam accused guilty of a scam which CBI Emaar investigated together and found none of the official of Emaar were involved. Though the role of Andhra Pradesh Industrial Infrastructure Corporation officials is still under the scanner and it is emerging that the real estate giant just may have been made a scapegoat in the entire controversy.

Emaar Scam accused do not include any of the members of Emaar Properties and no charges or cases have been filed against any of the officials. A lot of summons have been issued against multiple officials of Andhra Pradesh Industrial Infrastructure Corporation so far along with other government and private officials, CBI Emaar investigations have revealed. Breathing a sigh of relief, Emaar has moved on to other projects spread across India and have buried the bad experience in the princely capital of Hyderabad and is on its course to become India’s largest and the most respected real estate company in association with MGF, a local real estate firm. It is to be noted that Emaar entered India in the year 2005 via the foreign direct investment route and partnered MGF as was required by the government rules and regulations governing the participation of foreign real estate players in the Indian construction industry. Emaar pledged an investment of around half a billion dollars at the time of its entry into India and it remains one of the biggest single FDI in real estate by any foreign player in India.

Emaar Properties is a Dubai based real estate firm which has now diversified to many verticals including hotel management, mall management, commercial spaces and IT parks management and even IT and Software Industry. In the Indian market, however, Emaar has not so far explored these verticals and is still focusing on just construction, a vertical that remains the forte of Emaar Properties. However, rumors are doing rounds that Emaar MGF may be planning to construct and manage one of India’s very first 7 Star luxury hotels and these may come up at prime locations in the national capital and the city of Kolkata in West Bengal. With Emaar Scam accused found out to be not representing Emaar Properties and Emaar CBI joint investigations giving a clean chit to the real estate firm, Emaar MGF is moving ahead with full steam to capture the Indian real estate market. The company may actually be expanding its operations to more cities of India and plans to construct luxury residential townships and commercial spaces all across India.

The author loves to write small, informative articles on topics related to Real Estate and Travel. This article is about how CBI Emaar together investigated Emaar scam.

The author loves to write small, informative articles on topics related to Real Estate and Travel. This article is about how CBI Emaar (http://goarticles.com/article/CBI-Emaar-Face-Off-in-the-MGF-Case-Much-Ado-About-Almost-Nothing/7456882/) together investigated Emaar scam.

Author Bio: The author loves to write small, informative articles on topics related to Real Estate and Travel. This article is about how CBI Emaar together investigated Emaar scam.

Category: Real Estate
Keywords: CBI Emaar, Emaar scam accused, Emaar accused