Emaar to split from its Indian JV partner-MGF
The Dollar Business Bureau India-based real estate company MGF Development Ltd. and Dubai-based real estate developer Emaar properties have announced their division on Wednesday. The process has already started. Emaar, known for constructing Burj Khalifa, has begun the demerger procedure with its 11-year old Indian joint venture partner, and will finish a decade-long bond with the Indian real estate giant. “In order to lend greater focus on its Indian operations and for the purpose of developing the potential for further growth and expansion of the business, Emaar properties agreed to take steps for the reorganisation of Emaar MGF Land Ltd. by way of scheme of arrangement (demerger),” Emaar said in its official statement. “This reorganisation will enable Emaar to implement focused strategy for its ...
