Emaar India to Expand With $1.85 Billion Investment In 2 Years

The local subsidiary of Dubai's Emaar Properties, Emaar India, wants to invest $1.85 billion over the next two years to achieve in 21 months what took them 21 years, according to CEO Kalyan Chakrabarti. 

Over the next two years, the company plans to release almost 10 million square feet of real estate, substantially increasing its footprint in significant markets like Mumbai, Pune, Bengaluru, and Hyderabad. 

In the next 21 months, we hope to accomplish the same things we have over the past 21 years. Chakrabarti has stated that the company's goal is to introduce another 24,000 residential, commercial, and industrial units within the next two years. 

Emaar Properties founder Mohamed Alabbar told ET that the company will focus more on India. The corporation plans to invest $100 million in one project. It launched 424 units on the Golf Course extension roughly four years after its 2019 debut. 

There were almost 4,000 applications. From EoI collection to allotment letter, the process was smooth, "the executive remarked. The company is the first of its kind to have EY as its process assurance supplier. The 9.53-acre project, covering 1.2 million sq ft, is expected to generate Rs2,000 crore in income for Emaar.