Emaar India starts work on several new projects
Work on ongoing developments expected to be completed by the end of 2019
Emaar India, the Indian arm of Emaar Properties, has said that it is working on a number of new projects in the National Capital Region (NCR), with work on ongoing projects expected to be complete by the end of 2019.
In a report by Khaleej Times, Sanjay Malhotra, CEO of Emaar India, said that the developer had “expedited all its projects to be able to deliver close to 11,000 units by the end of 2019.”
“This would complete all our existing projects,” he said, adding that Emaar India has raised $383.7 million to expedite the execution and completion of its ongoing projects. He said that there were green shoots in the market, with the queries of buyers gradually gathering momentum.
“We have already surpassed our annual target for this year. Enquiries in the secondary markets is also going up,” he said, adding that the company was working towards announcing new projects with a total inventory of 1,600 units.
“This would be a mix of new projects and expansion of existing projects and would be announced very soon,” he said, pointing out that new projects may not be in the premium category.
Malhotra said the positive traction in the market has been seen after the recent policy interventions like the Real Estate Regulatory Authority (Rera) and demonetisation by the government.
