Dubai's Emaar Says Committed to Projects in India

Published: 23rd July 2015 12:01 PM  |   Last Updated: 23rd July 2015 12:01 PM   |  A+A-


A flag flies for property company EMAAR next to a construction site in Dubai's Marina area, November 28, 2009. | Reuters

DUBAI: Dubai's Emaar Properties said on Thursday it was committed to its projects in India through its joint venture Emaar MGF Land, and that India was a key market for Emaar.

Its statement followed a report in India's Economic Times which quoted unnamed sources as saying Emaar was close to ending its decade-old joint venture with Indian firm MGF Developments.

"We would like to clarify that India is a key market for Emaar and we are committed to the success of our projects in India through our company, Emaar MGF Land Ltd," Emaar said in a statement to the Dubai bourse.

"As part of streamlining our growth strategy, we conduct regular reviews of the ongoing operations of the company," it said, adding that it was considering a number of options to ensure that its growth objectives were met, and would disclose any information if and when it was finalised. It did not elaborate.

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