Emaar Properties, Dubai’s largest developer, is open to taking on urban redevelopment projects in India, as it strives to build a new resort in the hills of the South Asian nation.
“We have done one such project in Turkey and delivered 8,000 homes. It was an incredible experience. I can assure you if I get a project like that in India, I can shock everyone and show how it is done,” Founder and Managing Director Mohamed Alabbar told Economic Times, an Indian financial newspaper.
He disclosed that the company will announce a resort project in the next few months in the hills of India, which he is “exploring quite seriously”.
The location of the resort was not disclosed.
The company is also working on a museum project in Gujarat, which is just at the beginning, Alabbar said.
He believes Emaar can repeat its success in India's hospitality, residential and mall segments.
"I think hospitality in India has a great future as the supply and demand situation Residential, I don’t need to tell you, the demand in India has no limits.
“When it comes to the shopping mall business, India is just at the beginning. So, I believe that we should really focus on these sectors and we should focus on the main cities of India first,” Alabbar stated.
In March, Emaar said it will build a $60 million shopping and office complex in Indian Kashmir, which will include a shopping mall and multi-purpose commercial tower in Srinagar.
(Editing by Seban Scaria firstname.lastname@example.org)