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Emaar India to invest Rs 900 crore to develop luxury housing project in Gurugram

Priya Singh | 2024-03-15

Emaar India has sold out all 424 flats launched in the first phase for Rs 1,723 crore in revenue. It received 10 times subscription with 4,259 expression of interests for the 424 homes available.
Realty firm Emaar India will invest Rs 900 crore over the next four years to develop a luxury housing projects in Gurugram as part of its expansion plan, a top company official said. The company, which is part of Dubai-based Emaar Properties, has launched and already sold 424 luxury homes in its group housing project 'Urban Oasis' located at Sector 62, Golf Course Extension Road in Gurugram.
We launched a residential project after a gap of almost four years, and were humbled by the response from the market." Emaar India has sold out all 424 flats launched in the first phase for Rs 1,723 crore in revenue. It received 10 times subscription with 4,259 expression of interests for the 424 homes available.
He said the demand for luxury homes in all major cities including Gurugram is very strong from both end users and investors. Asked about the project cost,
He said the company would focus on launching more residential projects in Delhi-NCR and other locations in North India where it has land bank. Emaar Properties entered the Indian real estate market in 2005 in partnership with India's MGF Development and invested Rs 8,500 crore through the joint venture firm Emaar MGF Land.
We are now looking forward to a solid performance ahead with respect to launches and with respect to taking care of some of the residual problems that we are trying to solve,"
The market scenario has been kind because of the economic growth, he said.
However, it's clear that we want to develop more and more. There are a lot of projects in the pipeline that we will bring,"