Middle Eastern establishments like Emaar Properties, Al Ghurair Group's ETA Star, Al Rostamani Enterprises' KM Properties, Nakheel LLC, Dubai Properties and Kingdom Hotel Investments are investing heavily in Indian realty. Their money is being channelled into hotels, malls, healthcare, housing, IT parks and integrated townships, in Mumbai, Delhi, Chennaim Kolkata, Hyderabadm Bangalore, Goa and Rajasthan.
The Dubai-based real estate giant, Emaar Properties was one of the first Gulf firms to invest in India. The Emaar MGF Land Private Ltd, a joint venture between Emaar and MGF Developments in India, has announced commitments worth Dh17.926 billion for 2006 of which Saudi Arabia, UAE and India will have the largest share.
Similarly ETA Star is currently involved in a spate of real estate projects across India. "Our group has its origin in India and has commenced work on new projects in Bangalore and Chennai and would also begin work in Kolkata and Hyderabad shortly," said P Balaji, Business Development Manager, ETA Star.