The largest developer in Dubai, Emaar Properties, is willing to take on urban reconstruction projects in India as it works to develop a new resort in the country’s hills.
“We have done one such project in Turkey and delivered 8,000 homes. It was an incredible experience. I can assure you if I get a project like that in India, I can shock everyone and show how it is done,” Founder and Managing Director Mohamed Alabbar told Economic Times, an Indian financial newspaper.
He stated that he is “exploring quite seriously” a resort project that the company will launch in the coming months in the hills of India.
The resort’s precise location was kept a secret.
According to Alabbar, the business is also in the early stages of a museum project in Gujarat.
He thinks Emaar may have similar success in India’s hotel, housing, and mall industries.
“I think hospitality in India has a great future as the supply and demand situation is Residential, I don’t need to tell you, the demand in India has no limits.
“When it comes to the shopping mall business, India is just at the beginning. So, I believe that we should really focus on these sectors and we should focus on the main cities of India first,” Alabbar stated.
Emaar said in March that it would construct a $60 million office and retail complex in Srinagar, Indian Kashmir, which would feature a mall.