Submitted by: Pankaj Wahal
The alleged land scam in Hyderabad may have moved away from the media limelight but the real estate company which is supposedly implicated in the controversy is determined to clear its name from the scandal by extending full support to the agencies investigating the so called land scam. The Emaar scam accused has shown great determination in extending full and unconditional cooperation with the agencies and is helping the investigation to solve the case at the earliest. While the investigations are ongoing and initial investigations have revealed that the real estate firm may have no role to play in the entire fiasco, the Dubai developer criticizes the media for creating such hype about the alleged scam without verifying the facts and for indulging in sensationalism. The case is pending and thus far no charges have been framed against any official of the real estate firm. The media interest in the alleged controversy has now dwindled down but the company is not taking any chances and is going all out to get a clean chit from the investigating agencies.
Emaar is one of the leading real estate firms around the world is reputed to be the most efficient, cost effective and technologically advanced firms in the real estate domain. Testimony to Emaar Properties expertise in real estate lies in the successful completion of some of the mega construction projects of the modern day world. The famed Burj Khalifa, the tallest building in the world was constructed by Emaar properties and has further stamped its position as the leading real estate firm across the world. Adding another feather to the cap, Emaar Properties finished constructing The Dubai Mall within stipulated timelines and to the appreciation by real estate players around the world. The Dubai Mall is known to be the biggest functional mall in the world based on total area covered though the leasable area falls short of some other new malls developed around the world. It was after conquering the Dubai market that Emaar decided to spread its wings to nearby regions of Middle East and rest of South Asia and marked its presence in countries like Egypt, Syria, Jordan, Turkey, Morocco, Africa, Pakistan and India. And so far, Emaar success stories in tapping the market of these emerging world economies have been unbridled. The success Emaar has received in the Asian market is expected to be replicated around the world and Emaar has already step foot in the US market.
The Indian real estate market had always been attractive to foreign players but strict rules guiding the entry of international real estate giants prevented the entry of Emaar in the Indian market. However, since the liberalization period, the Indian government had been systematically opening up its economy and once the real estate market was opened for foreign investors via direct foreign investment or FDI, Emaar finally entered the scene in 2005 and has not looked back since. With a score of world class projects already completed, Emaar has already proven why it is known as the world s most efficient and reliable developer.
About the Author: I am a freelance writer and enjoy writing small, informative articles on topics related to Real Estate, Travel, IT products for SME and sometimes about my experience with Hotels as well.