Real estate firm Emaar MGF Land, the Indian joint venture of Dubai's Emaar Properties, on Friday said it will spend $3 billion (Dh11.1bn) developing properties in south India in the next few years.
Besides a residential property in Hyderabad with an outlay of $1.4bn, Emaar MGF will invest in commercial and retail properties and hotels spread over 31 million square feet in 10 South Indian locations, it said in a statement.
Emaar MGF launched Boulder Hills Golf and Country Club, its signature master planned integrated leisure and residential community in Hyderabad. Boulder Hills will have an 18-hole championship golf course, luxury residences, a large-format retail facility, luxury and boutique hotels and an IT park. The project will be constructed by Multiplex Construction India, an equal partnership joint venture construction company between Emaar MGF and Multiplex.
Boulder Hills is spread over 531 acres along Hyderabad's IT and financial corridor of Gachibowli.
It will have the first fully operational 192-acre championship golf course designed by Harradine Golf south of the Vindhya mountains.
"This launch enhances our geographical reach within the country and reinforces our vision of creating a new India," said Emaar MGF Chief Executive William R Rattazzi.
By Staff Writer
© Emirates Business 24/7 2008
