Emaar MGF, CBI cooperation has resulted in the opening up of a Pandora box in the infamous Emaar Scam. Facts which were earlier disregarded or ignored came up in the course of investigation by the reputed state agency, bringing some light into the otherwise, mystery shrouded case. As the investigation progresses, the role of Emaar accused in the case seem to be diminishing while APIIC or Andhra Pradesh Industrial Infrastructure role is becoming more vivid and clear. Since the first day of allegations, Emaar has strongly denied any involvement in the scandal and continued cooperation between Emaar MGF, CBI has supported this claim, making it very obvious that the real estate developer has been made the whipping boy in the entire debacle. Though the scandal is no longer centre stage, Emaar still continues to offer all possible support to the investigating agencies in the search for real culprits.

When Dubai based real estate firm, Emaar Properties forayed into Indian soil, the economy was growing at a rate of 6.7% and the real estate sector was positively growing at 20 % and contributing heavily to the GDP. Launched amid fanfare, Emaar MGF came into being with the joint venture between Emaar Properties PJSC and key domestic player, MGF Development Limited in 2005, thus capitalizing on the flourishing Indian real estate sector. Whilst MGF is one of the major retail real estate developers in northern India having developed scores of properties, Emaar Properties has global presence and is one of the largest and most successful real estate firms in the Middle East. The coming together of two such market leaders made a splash in the otherwise, calm sea of Indian real estate, bringing with it a capital outlay of over 4 billion US dollars and FDI worth over half a billion US dollars. Considered to be one of the largest FDI in real estate sector of that age, it charted the path of Emaar MGF success. Unstoppable, Emaar MGF started expansion in all major Indian cities including New Delhi, Jaipur, Chennai, Haryana, Andhra Pradesh, Kolkata, and Maharashtra among others.

From shopping malls to technology parks, Emaar MGF has carved a niche for itself in the thriving Indian real estate market. Despite the minor hiccup in Hyderabad, Emaar MGF has been unstoppable and has grown leaps and bound in the real estate sector with multiple projects all across the country. Leaving the law to take its own course, Emaar is now actively involved in its new projects and since the alleged scam, Emaar has successfully bagged several high end projects. Consolidating its empire furthermore, Emaar has announced plans to build and manage the country’s finest seven star hotels in the capital city of New Delhi and Kolkata. It is just a matter of time before the real estate firm captivates the highly competitive Indian hospitality market. With several new ventures in the pipeline and quite a few under construction, the global payer has made its long term plans very obvious and petty allegations and scandals cannot deviate it from its goal.

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 Emaar MGF CBI.

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 http://goarticles.com/article/Emaar-MGF-CBI-Closely-Working-Together-to-Investigate-the-Emaar-Case/7484370/ Emaar MGF CBI.

Author Bio: 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 Emaar MGF CBI.

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