| 30 May 2008 |
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EmaarMGF breaks new ground in South with Boulder Hills launch
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Launches first integrated world class leisure & residential community with a capital outlay of US$1.4 billion
. Plans to invest over US$3 billion across residential, commercial & retail, IT & SEZs and Hospitality sectors in over ten locations in South India
. South India's first integrated master planned golf community comprising an 18-hole championship golf course spread over 531 acres in Hyderabad
. Alliances with internationally renowned companies to bring in global best practices - Multiplex, Turner, Accor, Four Seasons, Hyatt, Marriott & Premier Inn
This launch marks the roll out of EmaarMGF's ambitious project plans spanning residential, commercial & retail, IT parks & SEZs, and hospitality sectors over the next few years at ten locations across South India. The company plans to develop over 31 million sq feet across ten locations in South India with a planned investment of US$3 billion.
Boulder Hills, world Class Leisure & Residential Community is replete with an 18-hole championship golf course, luxury residences, large format Retail facility, luxury & boutique hotels and IT Park. The project will be constructed by Multiplex Construction India Pvt Ltd., an equal partnership joint venture construction company between Emaar MGF & Multiplex Limited
A strategic project planned and developed in partnership with APIIC, Boulder Hills - is South India's first Integrated World Class Leisure & Residential Community spread across 531 acres situated along Hyderabad's IT and financial corridor of Gachibowli. Most importantly, the first fully operational 192 acres championship golf course designed by Harradine Golf debuts on the south of the Vindhyas, which adds significantly to the growing sporting infrastructure of Andhra Pradesh.
Detailing the strategic milestone for the southern market, William R. Rattazzi, CEO, EmaarMGF, said, "The launch of Boulder Hills is a momentous occasion for all of us as this marks a significant milestone of our growing operations in southern part of the country. This truly enhances our geographical reach within the country and reinforces our vision of 'Creating a New India' touching new frontiers of development as well as a whole new community."
Mr Rattazzi further emphasised, "EmaarMGF strives to make a significant difference to Indian lifestyle through its world-class developments. South India, particularly Andhra Pradesh, is a major driver of the country's economy and our presence here is aligned towards making a significant difference to real estate sector through the development of world-class structures of such quality, size, scale and magnitude. We are delighted to partner with APIIC in this prestigious project which not only validates the investment and business environment of Andhra Pradesh but also, firmly establishes Hyderabad as an international golfing destination."
In the residential space, EmaarMGF will focus on luxury and super luxury gated communities and townships with an aim to develop approx 20.5 million sq feet. The first phase of Boulder Hills comprises 703 residential units with a mix of single and multi-family units. The company has already launched 'The Esplanade', one of its modern residential projects in Chennai.
In line with endeavour of making Andhra Pradesh a leading destination in Information Technology, Boulder Hills will be home to a truly state-of-the-art SEZ, with a the built up area of 3.0 mn sqfts, generating approx 37,000 jobs in the process.
In the Retail arena EmaarMGF will develop a total of 3 million sq feet of top tier retail space across all its southern locations; the key highlight of this initiative being the introduction of "Mall of the City" series in each city the company forays into. Part of the Boulder Hills development "The Mall of Hyderabad", spread over 13 acres is expected to be completed by September 2010.
EmaarMGF will also play a critical role in redefining the hospitality sector of the Andhra Pradesh with plans to introduce Luxury and Boutique properties in association with Four Seasons & Marriott International as a part of this community.
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About Emaar MGF:
Emaar MGF, a joint venture between Emaar PropertiesEmaar Properties
PJSC, Dubai - one of the world's leading real estate company and MGF Developments Ltd., India - one of India's leading real estate developers. The company has been instrumental in bringing the largest FDI in the Indian real estate sector. Headquartered in New Delhi, the company started operations in India in mid-2005 and is engaged in pan India projects across Residential, Hospitality, Retail, Commercial & Special Economic Zones (SEZs) and IT parks. It has further identified new areas of growth in Education, Healthcare and Infrastructure sectors.
As a real estate company, Emaar MGF aims to make a real and positive impact on the lives of the people with development of outstanding quality realty projects. The company has a presence across 26 cities in the country and is driven by its mission to develop and deliver unique integrated lifestyle and work place environments and planned developments and to be recognized as a responsible corporate citizen and an employer of choice. Emaar MGF has plans to construct master planned developments including residential, retail and hospitality properties to provide fully integrated self contained communities.
The company has strategic tie ups with global players like Turner, Leighton and Multiplex for project management and construction services. It has also entered into partnerships with international hospitality majors like Accor and Premier Inn for budget and limited services category properties, Marriott, Hyatt and Intercontinental and Four Seasons for the up market and luxury category. Emaar MGF's association with Hamptons Group Limited, a global property sales, management and development services company, also helps the company leverage its sales and marketing expertise for Emaar MGF properties.
For further information, please contact:
Anupama Chopra / Beedisha Chakrabarti
Emaar MGF Land Limited
Tel: 011-41521155, 91-9810203445, 91-9899003192
Kelly Home / Nivine William
ASDA'A Public Relations
Tel: (+971 4) 334 4550
E-mail: k.home@asdaa.com, n.william@asdaa.com
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