Emaar is one of the world’s leading real estate firms and is based in Dubai UAE. Anyone who has any interest in real estate industry would vouch for the company’s impeccable reputation and professionalism. Set up in the year 1997, Emaar was launched as a real estate company but has since then moved in to many other domains including hospitality, IT, theme parks, malls and industrial infrastructure creation and management. When the Indian government decided to deregulate the Indian real estate sector, Emaar saw the potential of the market and decided to enter India by partnering a local player, MGF. However, soon enough, a politically motivated smear campaign saw Emaar finding itself in an alleged scam which the media promptly named Emaar scam or Emaar properties scandal to sell news to people by sensationalizing the entire controversy. With so many scams in the Indian market, it was a good opportunity for media to gain advertisements by making this alleged scam look like the work of Emaar as the name itself was sufficient for people to take note. As a result, a seemingly fabricated scam, which accuses mainly APIIC, or Andhra Pradesh Industrial Infrastructure Corporation, of undervaluing the land to dilute public stake in an infrastructural project in the capital of Andhra Pradesh, was made to look like the work of the real estate giant from Dubai.

Emaar properties scandal, or better known as Emaar Scam, is a fine example of how innocent foreign players who come to Indian markets with innocence are made to go through a hard time by people with vested interests. There was a huge resistance to opening up of real estate sector to foreign players but when the government finally decided to open the doors to foreign players, a smear campaign was started by people with political reasons against innocent companies like Emaar. However, Emaar has taken a serious note of the situation and has committed to full cooperation with investigating agencies to bring the culprits, if any, to justice. Known for its transparent processes and professional attitude, Emaar is leaving no stone unturned to prove its innocence in the alleged Emaar properties scandal or Emaar scam. On the other hand, Emaar is also focusing on new projects which indicates that Emaar, along with MGF, has long term plans in India and that the company is not here to make a quick buck and wind up its operations.

It has been reported that Emaar MGF may be contemplating construction of the very first of Indian 7 Star luxury hotels in India and though the company has not yet disclosed its ambitious plans, rumor has it that Emaar MGF has already earmarked some of its prime real estate new the capital city of New Delhi and also in the city of Kolkata, West Bengal, for its hospitality ventures. If the success of Emaar MGF in India and Emaar properties in Dubai is anything to go by, it would not be surprising to see Emaar MGF becoming India’s finest real estate player, leaving the other real estate players seeking comfort only in allegations and controversies like Emaar properties scandal or Emaar scam.

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

I am a freelance writer and enjoy writing small, informative articles on topics related to Real Estate and Travel. This article is about Emaar Properties Scandal (http://propertiesbuzz.wordpress.com/2013/03/25/despite-emaar-properties-scandal-emaar-growth-chart-continues-to-rise/).

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 Properties Scandal.

Category: Real Estate
Keywords: Emaar Properties Scandal, Emaar Scam