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Emaar confident on Indian Realty sector

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As per the source saying @ the www.propertykhazana.com Dubai based Emaar Properties has released a Press Note saying that the company will think again on its IPO in India, at the same time Emaar is optimistic on the booming realty market in India. By the end of the financial year 2007-08 Emaar and its Indian associate MGF pulled out its IPO due to insufficient retort in the market.
As per the available information at the www.propertykhazana.com Emaar MGF hunted for about Rs. 6500 crore with the opening price band of Rs. 610 – Rs.690 and later it was revised to Rs. 530 – Rs. 630. Speaking on the same, Mr. Mohamed Ali Alabbar, the Chairman said at the www.propertykhazana.com that Indian realty is filled with high energy and he also said that the ongoing boom will continue for the couple of decades. Further he said that the IPO will be at the right time and the company at its best in financial management and hoping to double its size. He also added that the Indian and Morocco deals profited the company with up to Rs. 2000 million in the financial year 2007.
If the revealed source with the www.propertykhazana.com is considered than India is the 3rd preferred global investment destination fallowed by Us and China and Mumbai alone has recorded 50% rental appreciation in the last 1 year, so considering the facts, Emaar is steadily planning about its expansion and IPO in India. With over 520 Million Sq.mts of huge land bank nothing seems to be impossible for Emaar, said an industry expert.
Source: NBTVLIVE

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