EmaarMGF bullish on South India, to invest $3 bln

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New Delhi, May 30 (UNI) EmaarMGF Land Ltd, a joint venture between Dubai's Emaar Properties PJSC and MGF Developments Ltd, today said it plans to pump in over three billion dollars across residential, commercial and retail, IT and SEZs, and hospitality sectors in over ten locations in southern parts of the country.

The city-based real estate developer said it plans to develop over 31 million sq ft across ten locations in South India with a planned investment of three billion dollars over the next few years , a statement said.

The firm today launched the first integrated world class leisure and residential community ''Boulder Hills Golf and Country Club'' with a capital outlay of about Rs 5,610 crores in Hyderabad.

It is replete with an 18-hole championship golf course, luxury residences, large format retail facility, luxury and boutique hotels and an IT Park.

''The launch of Boulder Hills is a momentous occasion for all of us as this marks a significant milestone of our growing operations in the 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,'' said Mr William R Rattazzi, CEO, EmaarMGF.

The project will be constructed by Multiplex Construction India Pvt Ltd, an equal partnership joint venture construction company between Emaar MGF and Multiplex Ltd.

UNI SBA US1904

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