Emaar MGF plans to take affordable route.

Real estate developer Emaar MGF Land Ltd., a joint venture between Dubai-based Emaar Properties PJSC and India s MGF Development Ltd., plans to enter the affordable housing market in India to boost sales and profitability.
The company is also looking at expanding its hospitality business in the country, K. Ramamurthy, chief executive officer, projects, Emaar MGF, said. The company, which has around 11,000 acres of land, expects the affordable housing market to drive growth even as luxury projects remain an important business segment for the developer. Emaar MGF will be investing around Rs. 8,000 crore in the next 4-5 years, Ramamurthy said.

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