Emaar India
 |
| Company type | Private |
|---|---|
| Industry | Real estate |
| Founded | February 2005 |
| Headquarters | , |
Key people | Kalyan Chakarborty (Chief Executive Officer) |
| Parent | Emaar Properties |
| Website | in |
Emaar India Limited is a real estate developer principally engaged in promotion, construction, development and sale of integrated townships, residential and commercial multi storied buildings, houses, flats, shopping malls, hotels, and other developments. The company develops residential and commercial projects in different parts of India, including Gurugram, Delhi/NCR, Mohali, Lucknow, Indore and other Indian cities.[1][2]
Emaar started its operations in 2005 and has been known for bringing in the largest foreign direct investment in the construction-development sector of India.[3] The company is promoted by Emaar Properties PJSC, Dubai (“Emaar”).[4] Being a subsidiary of Emaar, the company is also controlled and managed by Emaar in India.
Emaar is a public company established in 1997 under the laws of Dubai, UAE and is listed on the Dubai Financial Market. Its market capitalization is over US$14 billion and assets are valued at over US$26 billion.[5] It has developed master-planned communities internationally, and is present in several key global markets like the Middle East, Africa, Asia, Europe, the United States and Canada.
Emaar's flagship development Downtown Dubai hosts properties like the Burj Khalifa, The Dubai Mall and The Dubai Fountain. It has also developed residential projects like Arabian Ranches, Emirates Living, and Dubai Marina.
History
On April 11, 2016, Emaar Properties terminated its joint venture with MGF Developments.[6] Following this, Emaar MGF Land Ltd filed the demerger scheme in Delhi High Court on May 16, 2016.[7]
In August 2017, Emaar India stated that it has appointed of Snapdeal’s Chief Strategy & Investment Officer Jason Kothari and Sudip Mullick of the law firm Khaitan & Co to the board of directors.[8]
Emaar India communicated to its customers about initiating the process of demerger of the Company pursuant to a Scheme of Arrangement under Section 391-394 of the Companies Act, 1956 and filing such Scheme with Delhi High Court. It also shared target completion schedules for all projects with achievement of specific milestones and uploaded the same on its website to reassure customers that ongoing projects would be completed.[9]
Emaar revamped its project management team to speed up execution and delivery of over 50 projects that were stuck due to the impending demerger between the two parent companies. The developer hired over 100 additional employees in the Project Management space.[10] The developer increased its workforce to 10,000 labourers at the time of initiating the demerger process.[10] By September 2017, the labourers headcount was more than 15,000.[11]
Projects
- Emaar Digi Homes
- Emaar Palm Heights
- Emaar Business District 65
- Emaar Business District 114
- Emaar Business District 89
- Emaar Colonnade
- Emaar Emerald Plaza
- Emaar Palm Square
- Emaar Continental City
- Mohali Hills
- Central Plaza
- The Views
- Emaar Emerald Hills
Awards
2017
- Emaar India has won 4 awards at the DNA Real Estate & Infrastructure Awards 2017, in Mumbai - 'Developer of the Year - Residential', 'Employer of the Year Real Estate', 'Residential Property of the Year' for its Emerald Hills project, and 'CSR Initiative of the Year by a Real Estate Firm' for its creche program ‘Guardians of Hope’.[12]
- Emaar India has won 2 awards at the 9th Realty Plus Conclave and Excellence Awards 2017 - 'Developer of the Year' in the Residential category, and 'Green Project of the Year for Digital Greens'.[13]
2016
- Emaar India has won the ‘Residential Project of the Year’ award for The Palm Drive (Gurgaon) at the DNA Real Estate & Infrastructure Awards 2016.[14]
- Emaar India has won 2 awards at the 8th Realty Plus Conclave and Excellence Awards 2016 - 'Luxury Project of the Year - The Palm Drive’ and ‘Commercial Property of the Year - The Palm Springs Plaza’.[15]
- Emaar India has won The Palm Drive, Gurugram wins ‘Residential Project of the Year’ at DNA Real Estate Awards 2016.
References
- ^ "Emaar Story". Emaar India. Retrieved 2017-10-05.
- ^ "Real Estate Company - Buy Residential & Commercial Properties in India | Emaar India". emaar-india.com. Retrieved 2018-01-30.
- ^ Babar, Kailash (2017-03-28). "Emaar India raises Rs 2,500 crore to fast track projects". The Economic Times. Retrieved 2017-10-05.
- ^ "Emaar Properties PJSC | Global Property Developer". www.emaar.com. Retrieved 2017-10-05.
- ^ "Emaar Story | Emaar India". emaar-india.com. Retrieved 2017-10-05.
- ^ Nandy, Madhurima (2016-04-13). "Dubai's Emaar ends 11-year old JV with MGF Developments". Livemint. Retrieved 2017-03-02.
- ^ "Emaar MGF files demerger scheme in Delhi High Court – Times of India". The Times of India. Retrieved 2017-03-02.
- ^ ET Realty. "Emaar India appoints Jason Kothari & Sudip Mullick as independent directors". www.etrealty.com.
- ^ indiainfoline.com. "Emaar MGF offers new timeline for project completion". Retrieved 2017-03-02.
- ^ a b "Emaar revamps project teamto fast track over 50 projects – The Economic Times". The Economic Times. Retrieved 2017-03-02.
- ^ ANI (2017-09-02). "Emaar India to deliver 11,000 flats by 2018 in Haryana". Business Standard India. Retrieved 2017-09-14.
- ^ ANI (2017-11-29). "Emaar India wins Developer and Employer of the Year awards". Business Standard India. Retrieved 2018-03-21.
- ^ "Emaar India named 'Developer of the Year'". Retrieved 2018-03-21.
- ^ "Emaar India bags industry honour at DNA Real Estate Awards 2016". Retrieved 2017-03-02.
- ^ "Award Winners | 2016 | North 2016". rp-awards.com. Retrieved 2018-03-22.