Emaar MGF plans to deliver 3,000 flats by September 2017

The company has decided to fast track and complete projects such as Emerald Estate, Emerald Floor, Emerald Floor Premier, Palm Garden, Palm Terraces Select, Gurgaon Greens, Imperial Gardens in Gurgaon.

NEW DELHI: Gurgaon-based builder Emaar MGF plans to hand over about 3,000 flats in the next 12 months.

The company has decided to fast track and complete the ongoing projects such as Emerald Estate, Emerald Floor, Emerald Floor Premier, Palm Garden, Palm Terraces Select, Gurgaon Greens, Imperial Gardens in Gurgaon region, besides The Avenues and The Grace in Chennai region by December 2017, the company said in a release.

“Presently, almost 8,000 labourers are working at various sites of the developer, as against 500 in April 2016. The company aims to increase this workforce to five figures in the next three months at various projects including Palm Hills, Palm Garden and Palm Drive in the Gurgaon region,” said Ashish Jerath, Head Sales, Emaar MGF.

“This will be the highest delivery in several years for the company,” he added.

The company plans to start handing over several projects by the end of this year itself, including The Grace and The Avenues in Chennai, followed by Emerald Hills from December. The company recently received occupation certificates for first phase of these projects this year.

Dubai-based Emaar Properties PJSC recently decided to terminate its decade-old joint venture with MGF Developments Ltd, Emaar MGF Land Ltd. Both the entities have agreed on the separation terms through a scheme of demerger of the JV and are awaiting regulatory approval.

Dubai-based Emaar PJSC is also planning to infuse fresh equity capital in Emaar MGF Land to raise its controlling stake in the company to more than 74%.

Source: http://realty.economictimes.indiatimes.com/news/residential/emaar-mgf-plans-to-deliver-3000-flats-by-fy17-end/54492426

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