"Emaar India's CEO, Kalyan Chakrabarti, Announces $1.85 Billion Investment Over 2 Years"

Emaar India, the local subsidiary of Dubai's Emaar Properties, is gearing up for an ambitious investment plan, with a commitment to pour a minimum of $1.85 billion into the Indian real estate market over the next two years. Kalyan Chakrabarti, CEO of Emaar India, revealed this ambitious expansion strategy, aiming to achieve in just 21 months what previously took them 21 years, during an interview with ET.

The company's ambitious agenda includes the release of approximately 10 million square feet of real estate in key markets such as Mumbai, Pune, Bengaluru, and Hyderabad over the next two years. "We would like to repeat what we have done in the last 21 years over the next 21 months. So far, we have launched 24,500 units, a combination of apartments, floors, plots, or offices; our target is to repeat all of that in the next 24 months," Chakrabarti stated.

Emaar Properties' founder, Mohamed Alabbar, recently expressed the company's intention to intensify its focus on India, which aligns with this significant investment.

However, Emaar India's investments are not confined to a uniform scale, as the company plans to allocate a substantial $100 million for a single project. This reflects their robust commitment to bolster their presence in the Indian real estate landscape.

Emaar India recently launched 424 units on the Golf Course extension, marking its first launch since 2019. The response was overwhelming, with over 4,000 applications received. Chakrabarti highlighted the smooth and efficient process from the collection of expressions of interest (EoI) to the allocation of units. EY serves as their process assurance provider, setting a new industry standard in this regard.

The project, situated on 9.53 acres with a total development area of 1.2 million square feet, is anticipated to generate revenue of approximately ₹2,000 crore for Emaar. This demonstrates their commitment to not only substantial investments but also delivering successful and sought-after real estate developments in the Indian market.

ET