Aiming to be among the top 10 developers of India, Emaar India, part of Emaar Properties of Dubai is looking to tap newer cities and develop 10-11 million sq ft of real estate space.
According to Kalyan Chakrabarty, CEO, Emaar India, 1.2 million sq ft of space is already under development and 7-8 million sq ft will be taken up by the end of the year. The company will be spending USD 2 billion on land and construction of projects.
The company’s 85 percent sales revenue comes from its flagship market of Gurgaon and the rest is contributed by Lucknow, Mohali, Ludhiana, Jaipur and Indore markets. Riding high on the housing boom, Emaar is looking at entering a couple of new cities. Besides, the company is mulling to foray into the hospitality segment by bringing some hotel brands of its parent company into India.
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