Emaar MGF bags ISO certifications even a ‘new luxury’ Marbella is announced

In a competitive business atmosphere, effective leadership is a critical component and a prerequisite to achieve organisational goals. To do this, leaders must be able to provide inspiration and clear direction to their team. Mr Shravan Gupta, EVC and Managing Director of Emaar MGF Land Ltd., is one such leader. His clear vision and effective planning has guided Emaar MGF Land Ltd to accomplish great heights.

 

Under Mr Shravan Gupta’s agreement of quality, Emaar MGF Land Ltd. has been awarded the coveted ISO 9001:2008 and ISO 10002:2004 certification for its Customer Service function. While the ISO 9001:2008 certification acknowledges quality management system within the organisation, the ISO 10002:2004 recognises guidance on the process of complaints handling related to products within an organization.

 

EmaarMGF was honoured for superior customer satisfaction through the effective application of the system, including processes for constant upgrading of the system and the assurance of conformity to customer and applicable statutory and regulatory requirement.

 

Speaking on the occasion, Mr. Ajay Nambiar, Chief Service Officer at Emaar MGF Land Ltd said, "This is a very proud moment for EMAAR MGF. Emaar MGF is known for its quality standards, best in class processes and its steadfast commitment to achieving customer satisfaction. This certification recognizes the efforts and hard work in that direction.” He added: “ISO 10002:2004 also improves internal operations; helps retain customers, and enhances the company's standing in a highly cluttered and crowded marketplace".

 

Over the years, the premier real estate developers have added many feathers to their illustrious cap. Emaar MGF has numerous exciting landmark projects in progress in the National Capital Region, including Gurgaon & Delhi, Mohali, Indore, Jaipur, Lucknow, Chennai, Hyderabad and Kolkata.

 

Meanwhile, Emaar MGF Land Ltd. has launched its latest ultra-luxury project, a one-of-its-kind gated-community experience – Marbella, in Gurgaon. Strategically located at Golf Course Extension Road, Sector-66, Marbella is an exclusive, seamlessly-planned signature Villa Community. 

 

MrShravan Gupta, Emaar MGF’s executive vice chairman and managing director, and the brain behind the engineering efforts to achieve Marbella’s structural magnificence, points out that the company’s latest venture has the potential to revolutionise plush living, said “At Emaar MGF, we constantly strive to set new benchmarks. We have reached a considerable level of refinement, not only as regards construction, but also in terms of aesthetics.”

 

Marbella is a reflection of Spanish Architecture – spread majestically over 110 acres of sprawling green with 4/5 BHK luxury Villas in the range of Rs 4.5 crores to 8.5 crores. This villas-only development is amongst the largest in Gurgaon with avant-garde facilities, management set-up and a Club House. Mr Shravan Gupta further says, “For the first time, management facilities that more than matches the level of luxury apartments, is being provided in a township (villa) format. This would include power back-up, elevation control, exterior maintenance, lawn maintenance, concierge services, central security and overall monitoring.”

 

With top design standards, opulent amenities and high-end features, Marbella promotes harmonious living within the community that consists of various size options to suit client requirements. The Marbella project has also attracted a host of cash-flush global buyers. Mr Shravan Gupta says, “This will be a game-changer for the upper echelon of the society.”

EmaarMGF redefines luxury, launches Marbella in Gurgaon – A Doorway to Profound Living

Signature Spanish styled architecture designed for the explicit few
Unique concierge service for all the one stop household needs
Gated residential development comprising luxurious villas

Emaar MGF Land Ltd., a leading Indian real estate developer, has launched its new ultra luxury project and one of a kind gated community experience – Marbella, in Gurgaon. Strategically located at Golf Course Extension Road, Sector-66, Gurgaon, Marbella is an exclusive, impeccably planned signature Villa Community.

Marbella is a splendour of Spanish Architecture – spread majestically over 110 acres of sprawling green with 4/5 BHK luxury Villas in the range of Rs 4.5 crores to 8.5 crores. This villas-only development is amongst the largest in Gurgaon with avant-garde facilities management set-up and a Club House. For the first time facility management of the level of luxury apartments is being provided in a township (villa) format. This would include power back-up, elevation control, exterior maintenance, lawn maintenance, concierge services, central security and monitoring.

The Club House on its part will offer facilities matching the stature and lifestyle of the residents including an indoor heated pool/outdoor pool, bowling alley, tennis courts, basketball courts, a high tech gym, a salon/spa, a banquet hall, coffee shop, beautifully landscaped jogging and walking tracks.
According to, Mr. Shravan Gupta, EVC & Managing Director, Emaar MGF, “Emaar MGF by virtue of its lineage, leverages expertise in developing unparalleled luxury housing in India. The launch of Marbella marks the commitment of Emaar MGF to continuously develop properties with modern design concepts of international standards. Our vision has been to provide exclusivity in terms of quality of construction,

international design standards and state-of-the-art facilities for our valued customers promising a better quality of life.”

With premier design standards, quality amenities and high-end features, Marbella promotes harmonious living within the community that consists of various size options to suit client requirements. 

Emaar MGF’s Marbella is designed for an unmatched way of life, within four walls and out in the open. All of this is located in the heart of planned walkways, scenic parks, leisure and recreational facilities personify the experience of villa life. The combination of an upscale neighbourhood and villas with the finest of fit and finish makes Marbella the address of choice which proposes to house 200 units.

Emaar MGF is a pioneer in ‘master planned community’ development with 33 residential projects already underway across the country.

Shravan Gupta, EVC and Managing Director of Emaar MGF congratulated the Indore Team on this achievement

Emaar MGF fulfills its commitment, starts offering possession at Indore Greens

 

Indore: Standing tall on its commitment to customers, Emaar MGF, India’s leading real estate developer, has announced the offer of possession of the plots at Indore Greens. Indore Green is a flagship project of Emaar MGF, a joint venture between Emaar, the world’s most renowned developer and its Indian counterpart MGF.

Emaar MGF, recently received completion certificate for Indore Greens Township from Local Authorities after it completed almost all the development work at site.

Speaking on the occasion, Ajay Nambiar, Chief Service Officer, Emaar MGF said “It is a really proud moment for us. We are keeping our promise that we made to our customers. Emaar MGF has a pan-India presence with an international expertise in town planning and design. Indore Greens is one such example of our proficiency which will create the benchmark for others to follow.
Walking an extra mile towards customer satisfaction, Emaar MGF has issued Intent of Possession (IOP) even for plots that are not currently due for possession. This way, we have become the first developer in Indore to offer possession before due date”

Indore Greens, an integrated township spread over 200 acres of lush green area in Indore, is the first project on Delhi-Mumbai Industrial Corridor (DMIC) to get the completion certificate. The township enjoys an excellent location and is one of the most exclusive, self-sustaining integrated townships in all of Central India. Adjacent to DMIC, it lies between the Jain Temple and Bijasan Temple and is merely 2 kilometers from Devi Ahilya Bai Holkar Airport of the commercial capital of Madhya Pradesh. Indore Greens is designed as a self sufficient gated community and is an eco friendly green project offering well-developed plots with all the basic amenities including street lights, electricity connections, sewer connection etc.
 

About Emaar MGF:
Emaar MGF is a joint venture between MGF Developments Ltd and Emaar Properties PJSC, Dubai. The Company has been instrumental in bringing one of the largest FDI in the Indian real estate sector. Headquartered in New Delhi, the Company started operations in India in mid-2005 and is engaged in Residential, Commercial, Retail and Hospitality projects across India. The Company is driven by its mission to develop and deliver unique integrated lifestyle and work place environments and planned developments and to be recognized as a responsible corporate citizen and an employer of choice. Emaar MGF is constructing master planned developments including residential, retail and hospitality properties to provide fully integrated self contained communities. For more details please visit http://www.emaarmgf.com/

NRIs doing a realty check before investing

Non-resident Indians (NRIs) and people of Indian origin (PIO) investing in premium real estate projects have become cautious and are doing a thorough check before investing, say senior executives in real estate firms.

‘‘The mood is to verify and ensure it is a good property, land and approvals are in place, the location is good, and the project conforms to the master plan,’’ said Kunal Banerji, president, M3M India, after a road show in Abu Dhabi last week.

‘‘Gone are the days of euphoric buying. Today, people are doing calculated buying. They are doing thorough due diligence, checking out the location,’’ said Banerji, who met over 150 prospective investors in Dubai and Abu Dhabi over the weekend.

M3M, which is selling 3-bedroom and 4-bedroom apartments and penthouses at its Golf Estate project, Gurgaon, for Rs 3.6-10 crore each, plans to sell a quarter of these homes to NRIs and PIOs.

Niranjan Hiranandani, chairman, Hiranandani Group, says there’s a resurgence of NRI investment in India as opportunities have dried up in West Asia. ‘‘NRIs are more interested today; enquiries and conversions from them have gone up,’’ he said.

But there’s a difference. ‘‘Earlier, the NRI investor was euphoric – they would cut a cheque, thinking how much one would earn in three months. That exuberance is gone. Today, the NRI investor is taking a medium to long-term call on the property,’’ said Ashish Jerath, vice-president (sales), Emaar MGF.

Today, the NRI investor has a two-three year investment horizon, not less. Hence, he’s more concerned about the record of the builder, the location, and the project, realising only a good property would survive a shock, say experts.

‘‘They realise property prices can quickly go up or down, so it is important to own a good property and not invest in just any. Investors have become cautious. They want to invest in a project which will always have a demand (for resale),’’ said Jerath.

Abhishek Kiran Gupta, head of research at real estate consultancy Jones Lang Lesalle, feels investors have become cautious because real estate valuations abroad are attractive and real estate prices in India have moved up sharply in a short span of time. They’ve gone up by 15 per cent (NCR) to 40-50 per cent (Mumbai’s suburbs) in many markets.

‘‘Prices have shot up not just in Mumbai or Delhi, but in Bangalore as well. The prices have moved up so quickly -- people still remember prices a year back – they are a little uncomfortable,’’ said Gupta

Hiranandani feels investors don’t have an issue if the builder and projects are good. Emaar MGF, Hiranandanis and Lodha Group are builders which have a significant presence abroad.

Emaar MGF

Emaar MGF is a real estate development company of India established in a joint venture between two Real Estate Giants, Emaar Properties PJSC (“EMAAR”) of Dubai and MGF Development Limited (“MGF”) of India. Both the real estate development companies have shown great excellence in the real estate industry.

Being the world’s leading real estate developer, EMAAR has already set bench mark by developing some of the most appreciated projects including, commercial, residential and other business segments. With operations in more than 14 countries, EMAAR has emerged as one of the successful real estate developers to invest and develop properties across different key locations, offer management services for different types of properties etc. EMAAR is not only honored for their excellence in real estate, but also they have underscored their expertise and skills in different domains including hospitality, healthcare and education services.               

MGF Development Limited (“MGF”) was established in the year 1996 in accordance to the laws of India. This is real estate development company is primarily involved in the business of hire & purchase, leasing, and real estate development across India and abroad. With some of successful real estate projects in Northern India, MGF has emerged as a major player in retail real estate development of North India. With due dedication towards customer satisfaction, total value and quality, MGF has successfully delivered about 2 million sq. ft of retail space till date. 

With Pan India Presence, the duo of these two Real Estate Giants instigated their operations in February 2005 in India. Today, the operations of the company span in all major segments of real estate development including, hospitality and retail sectors, commercial and residential sectors. The operations of company covers all the primary facets of real estate development, right from identifying to acquisition of land, planning of projects to designing, marketing and execution.

With the mission to become the leading and admired real estate development company of India, EMAAR MGF has endeavored to delivered some of the most luxurious and cost efficient projects including, The Palm Springs in Gurgaon, Esplanade in Chennai, Commonwealth Game Village Delhi are few to name. For due dedication and commitment towards excellence, EMAAR MGF Group is now acknowledged as the best real estate developers, committed for developing integrated master planned communities comprised of residential projects with all modern facilities etc. Entailing different stages of properties, EMAAR MGF plays a key role in contributing towards the economic revenue of the country, thus facilitating exceptional properties in real estate of India.      

Now, the company is focusing on developing some residential projects in some of the key locations of India including, Chennai, Hyderabad, Mohali, NCR and Delhi. The upcoming projects of the EMAAR MGF includes, Palm Drive, Emerald, Palm Gardens, and Marbella in Gurgaon, Mohali Hills in Mohali, Boulder Hills Gold and Country Club in Hyderabad, Indore Greens in Indore etc. So, the company is looking forward to change the face of residential sector in India by developing these luxurious and world class master planned communities that offers a whole new way to live!      

Emaar Mgf: LUXE LIVING

The country's real estate market may not be in the pink of health, yet the current sluggish phase has not cast an ominous shadow over the prospects of luxury housing, a segment which continues to witness unabated demand, riding on rising number of high net worth individuals with enhanced lifestyle aspirations, coupled with the promise of high return on investment 

From designer homes to intelligent living spaces to sports and entertainment-centric living to homes with world-class concierge and allied services, developers today are raising the bar to come up with product and service offerings, to redefine the luxury real estate market in India. Mumbai, Pune, Bengaluru, Kolkata, Delhi-NCR and to a certain extent Chennai are the most responsive markets for luxury housing in the country. The changing demographics and the rising aspirations have given luxury living a new identity altogether.

Rise in the number of high net worth individuals, rapid pace of urbanisation, influx of global lifestyle trends and an increase in the number of non-resident Indians have contributed significantly towards increasing demand for luxury housing in India.

In cities like Mumbai, Delhi-NCR and Bengaluru, luxury and ultra-luxury residential projects have witnessed ten-fold appreciation over their launch prices in the last decade, implying more than 100 per cent annual returns on investment, claims Santhosh Kumar, CEO, Jones Lang LaSalle India. Most of these projects saw encouraging pre-sale activity and were sold out swiftly, he adds.

In fact, demand for luxury homes in cities like Gurgaon has always outpaced supply, which has encouraged developers to increasingly shift their focus on this segment.“In the last few years Gurgaon has become synonymous with luxury housing owing to the launch of a plethora of high-end projects. Sales have gone up with end-users and foreign nationals not averse to paying a steeper price for world-class features that most of these projects boast. Demand has spiked along with appreciation in their value,” says Ashish Jerath, VP-Sales, Emaar MGF.

Noida, recently, has also seen an increase in demand for luxurious projects. Prateek Group, for instance, tasted success for their maiden luxurious project ‘Prateek Stylome’ in Sector-45. The project had all the ingredients of a luxurious project and it changed the perception of Noida as a destination for affordable housing only. The group’s second offering in this space is ‘Prateek Edifice’.

“Luxury villas and farm house culture have become the latest trends in the Indian real estate market and Delhi-NCR is no exception to this. Luxury housing and premium villa projects coming all over the region have become a massive game changer in this part of the realty market,” says Anil Kumar Sharma, CMD, Amrapali Group and President, CREDAI-NCR. Amrapali has a host of luxury projects including Amrapali Sapphire in Noida and Amrapali Leisure Valley and Amrapali Dream Valley in Greater Noida West.

Although definition of luxury can vary from city to city and locality to locality, over 1.5 crore price tag is usually referred to as the start of luxury segment. Developers, on their part, are trying to outdo each other in breaking fresh ground in luxury. From a typical golf-based to spa-based, wellness or destination-based project, they are now experimenting with various global themes. For instance, Emaar MGF’s Marbella in Gurgaon is an impeccably planned ultra-lavish Spanish style villa community with 4 & 5-bedroom villas. Spread over 110 acres, the villas measure 267, 350 and 500 sq yds. Emaar The Palm Springs, located on Golf Course Road, Gurgaon, is another gated community spread over 19 acres and comprises approximately 230 high-end apartments and 80 luxury villas.

Why luxury works ?

Ultra-luxury projects have a tendency to garner extremely good pre-sale volumes, hence their developers are generally able to secure significant fund flows to capitalize the completion of their projects. “Luxury and ultra-luxury projects yield much higher returns to developers than projects geared towards the affordable and mid-income segments,” says Arjun Shivshankar of Suvilas Properties.

However, Kamal Sagar of Bengaluru-based Total Environment has a different opinion. “High quality homes require an exponentially higher degree of effort and cost. And, at the current level of maturity in the real estate market, developers end up with much lower returns to developers, since several customers continue to look at ‘cost per square foot’ instead of value-for-money.”

While it is also true that input costs for luxury homes are much higher, developers stand to benefit from the increased visibility of their brands among highly affluent, top-end clients. This means that the company can uniquely position itself on the basis of good quality luxury projects. This increased visibility and superior construction is automatically attributed to all other projects by the company. In other words, even mid-income housing projects launched by the developer get benefitted, and will invariably see higher sales compared to projects by developers who have not ventured into luxury housing.

 “Almost 75 per cent of the established builders across India have taken up luxury segment very seriously and the competition is quite intense. It does involve huge amount of risk as well.  So, if developers are not sure of the projected returns, they would not invest in this segment,” says Sanjay Raj, ED& CEO, Golden Gate Properties.

Buyers for luxury projects have very high expectations and want their homes to both offer and reflect a high lifestyle quotient. There is very little tolerance for flaws in design, construction and amenities. Thus, a botched luxury project can have significant repercussions on the developer’s credibility and future success.

Investment wise

Experts reason that luxury is a recession-proof segment. According to Manju Yagnik, Vice Chairperson, Nahar Group, as most of the buyers in this category are the C-Suite of the corporate world, successful entrepreneurs and business tycoons, their financial appetite is not limited to or governed by the economic considerations that give the middle-class sleepless nights. A significant percentage of buyers for such projects are able to self-finance their savings from their earnings.

Recession might take a toll on the response generated and time taken in selling project at the targeted price points. However, the kind of hit that luxury projects take in times of economic uncertainty is significantly lower when compared to residential projects aimed at other categories.

A case in point is DLF which says that despite the current economic slowdown they have received fairly good response from a sales point of view.  “We have been receiving fairly good response when it comes to our overall  luxury project sales,” says Ananta Raghuvanshi, Executive Director-Sales & Marketing, DLF Universal Ltd. DLF has several offerings under luxury segment. To name a few, the company has  Kings Court in New Delhi, Samavana in Kasauli, Samatara in Shimla, Bella Greens, New Town in Bengaluru and Riverside in Kochi.

“From an investment perspective, luxury housing is far better than other segments as it will always yield better returns. The demand is at niche level where one decides on quality and amenities and not on cost,” states Sushant Muttreja, MD, Cosmic Group.

“Luxury projects have witnessed over tenfold increase in prices in the last decade, pointing at huge return on investment on these projects,” adds Ravi Saund, COO, CHD Developers. Rajesh Vardhan, MD, Vardhman Group also affirms that luxury housing produces superior returns for the developers. Vardhman Group has luxury projects – Vardhman Flora and Vardhman Height at Byculla, Mumbai.

However, Deepak Kapoor, Director, Gulshan Homz says, “The luxury segment is all about lifestyle and status and so this segment is not good for short term investment. However, for medium and long term, luxury segment provides great returns.”  Under this segment, Gulshan Homz has its projects -- Vivante Select and Gulshan Ikebana, both situated on Noida Expressway.

Elaborates Girish Shah, Executive Vice President (Marketing & Sales), Godrej Properties, “The most important and prime variable in luxury homes - be it a first home or a second home - is its location. Almost all luxury properties claim to insulate you from the hustle and bustle of city life. But the ideal location could be within the heart of the city, not on its periphery, which will eventually result in good investment.”

Several projects in this segment, in time, become much sought-after ‘brands’ in their own right. This pushes up their re-sale and rental value. Over the long term, luxury projects provide excellent investment opportunity and offer quick exit options, feels Neville Vaswani, MD, Vaswani Group.

However, Bijay Agarwal, MD, Salarpuria Sattva Group has a different take, “While the segment may be recession-proof, however homes in this segment are not moving ahead as second homes.  So, even if people invest in luxury homes, the return would be less.”

Intelligent Homes

While location continues to be a key factor, branded residences are an emerging concept that offers not just a premium address with large spaces but evolved amenities with artificial intelligence, branded fittings such as Roca, Kohler, Grohe etc. and in many cases superior project management.

For instance, Delhi-based CHD Developers plan to launch luxurious studio apartments in their commercial tower CHD Sky One at Sector 109, Dwarka Expressway. With an ‘intelligent’ design, the tower will be energy efficient with optimal utilisation of space. The Group also launched a luxury tower Tee 9 within 106 Golf Avenue on Dwarka Expressway. It has a world-class golf community of exquisite 6-hole chip and putt. Above all, it includes exclusive Golf Concierge.

Developers are also increasingly focussing on creating intelligent living spaces through latest gadgets and technology. Digital locks, electronic surveillance systems, temperature control, wireless communication for Internet and in-house entertainment are common in most luxury homes.

Developers are using systems with sensors to enable residents to control ambience, light and temperature, among other things, through pre-programmed machines. These homes are intelligent enough to sense human presence and accordingly adjust light and temperature. Mantri Developers recently collaborated with networking provider Cisco to deploy information and communications technologies in its projects – Mantri Espana and Mantri DSK Pinnacle.
Sunteck Realty, a Mumbai-focused developer, has tied up with luxury mobile phone manufacturer Vertu to provide concierge services in a residential project aimed at top corporate executives. Each apartment will have a handset through which the residents will be able to call a dedicated concierge desk.

Raheja Developers’ Revanta in Gurgaon has restaurants, cafes, spas, lounges, common swimming pools, valet parking, automated car-wash and helipads.

“Luxury today has evolved and has moved several notches up and includes various lifestyle aspects such as theme-based developments – entertainment -centric living, golf/sports living in which projects are developed with a certain theme in mind. Leading lifestyle brands such as Versace & Armani are now being roped in to take care of flooring, wall designs, fittings as well as sanitary ware,” says Harinder Dhillon, Sr. VP, Raheja Developers. The Group is also coming up with another iconic project - Raheja Oma on NH-8, Dharuhera.

Spacious luxury apartments and villas invariably come with top-quality interiors, bathroom fittings and kitchen decors, often imported from abroad. For instance, One Avighna Park at Lower Parel in Mumbai promises to be amongst the most-sought-after residential addresses globally. Its material selection is based on quality, durability and service. For instance, imported switchgears from France, windows from Germany, water-proofing products from Malaysia, fire-fighting systems and pipes from UK, etc. The project is already 51 storeys up with delivery scheduled in 2014.

Pricing trends

By virtue, luxury and ultra-luxury comes with a price tag. Pricing largely depends on the location of the project. In addition, amenities, type of construction and interiors also determine the pricing of the project. Opulent interiors with superior quality fittings in living spaces is a mark of luxury housing. External lifestyle amenities also add to the overall living experience of the residents. Today, many developers are associating with international architects and landscape designers to provide the best in class product to their customers. All these factors add to the premium charged by the developer.

According to Ashok Gupta, MD, Ajnara India, “The pricing is 25-50 per cent more than the mid-segment rates prevailing in the same area, depending upon the kind of amenities and the quality being provided.” The group is coming up with Grand Ajnara Heritage, a luxurious project located in Sector-74, Noida.

Prices differ city-wise as well. In Bengaluru, anything above 6000 per sq ft could be considered luxury. But it may not be the same in Mumbai where prices above 15,000 per sq ft come under this bracket. On an average, the pricing of a luxury home would be over 1.5 crore, while a super luxury apartment would be from 5 crore onwards. Whereas in tier-II cities houses above 3 crore come under the ultra-luxury segment while in a tier -III city anything upwards of 1 crore will be considered super luxury.

According to Ravi Gurav, Vice President – Marketing, Dheeraj Realty, “in luxury housing there is no particular pricing trend. It all depends on certain factors - location, brand value and amenities and facilities provided.”

Future Outlook

Innovations and evolving lifestyle aspirations will drive the luxury housing market in India. Technological advancement coupled with design innovations are evolving fast and continuously raising the bar of luxury offerings.  What is important to note is that these luxury offerings need to be in sync with local culture, demography and residential density components to provide an optimum impact and the real luxury experience. “As we see it, this segment promises great growth potential in the near future,” says Devang Varma, Director, Omkar Realtors & Developers.

However, Anshuman Magazine, CMD, CBRE South Asia, sounds a note of caution, “The short-term outlook is difficult for the segment, considering subdued demand levels and supply-demand mismatch. At present, developers are focused on clearing off existing inventory before launching any fresh projects. A silver lining, however, has been the increasing trend of non-resident Indians (NRIs) purchasing housing property to leverage the depreciating value of the rupee.”

In Gurgaon, demand for luxury segment is expected to soar further in the coming four years. The entry of newer players in NCR, mainly connected with the IT, services and industrial sectors, has contributed to the hike in housing demand, which is expected to go up further with the influx. “Gurgaon will continue to see significant rise in luxury housing as the infrastructure is improving significantly and the city has witnessed a rapid pace of urbanisation over the last one and a half decade,” claims David Walker, ED of SARE Homes.

While Mumbai real estate market may see prices dip temporarily in certain micro markets, yet over the long term, real estate prices here will certainly see an upswing. There is definite lack of delivery but not supply. States Nishant Agarwal, MD, One Avighna Park, As a wise man once said, don’t wait to buy real estate, buy real estate and wait.”

Emaar MGF’s Central Plaza soon to get operational

Company said it has completed 90% of the construction work at Central Plaza which is part of Emaar MGF’s prestigious integrated township ‘Mohali Hills’

Emaar MGF Land Ltd, a leading real estate and infrastructure developer today said that their upcoming commercial space ‘Central Plaza’ at Mohali will soon get operational. Company said it has completed 90% of the construction work at Central Plaza which is part of Emaar MGF’s prestigious integrated township ‘Mohali Hills’.

Emaar MGF’s retail offering ‘Central Plaza’ is a half km long building, themed in Spanish style. The concept is based on the lines of strip malls found in nearly every city of the U.S. and Canada. In addition to unique architectural features the structure has been made earthquake resistant with 100 % power back provision for air conditioning. Central Plaza will have 45 elevators and a parking space to accommodate approximately 1200 cars.

Part of the company’s integrated township ‘Mohali Hills’, Central Plaza will not only have Mohali as its core catchment area but it will also serve as a one-stop shopping destination for the brand-conscious Chandigarh buyer. Located in Sector 105, Mohali, the retail cum office complex will have footfall from the surrounding residential sectors as well as from outside due to close proximity to international airport.

According to Mr. Rajiv Gupta, Head Sales (North), Emaar MGF Land Ltd, “We are in talks with several well-known anchors and tenants for Central Plaza even as the company has seen a significant rise in bookings for retail and commercial space. In fact 80 per cent of the units have already been sold out’.

He further added, “As far as the construction status is concerned, nearly 90% work has been completed. We are focusing on speedy and seamless execution of all our ongoing projects. Likewise possession of Central Plaza is expected to be handed over by Dec’13”.

Central Plaza will boast of a dynamic mix of supermarkets, laundries and pharmacies, eclectic boutique, stylish restaurants and kiosks under one roof. Covered arcade for all retail shops, wooden trellises and sitting spaces are few of the alluring features which would make ‘Central Plaza” hard to resist. Beautifully landscaped plazas with lush green gardens and water bodies are a major attraction for evening sit-outs in the cafes and for the kids.

A key feature of Central Plaza will be a large parking area and a dedicated drop-off zone for every section that would make shopping and working here a different experience. This is in sharp contrast to the chaotic parking and clogged entrances of malls located in Chandigarh’s Industrial Area and Zirakpur.

Emaar MGF inaugurates ACETECH 2013 ACETECH 2013 commences from Dec 5th at Pragati Maidan, New Delhi

Emaar MGF Land Ltd, a leading real estate and infrastructure developer inaugurated the ACETECH 2013 event at Pragati Maidan, New Delhi. Dr. K Ramamurthy, CEO-Projects, Emaar MGF lit the ceremonial lamp along with other dignitaries Mr. Sumit Gandhi, CMD of ABEC Ltd, Mr. Navin Raheja CMD, Raheja Group and Architect Dikshu Kukreja of CP Kukreja and Associates. Dr. Ramamurthy then gave the inaugural speech emphasizing on contributions made by real estate industry to country's overall GDP and how it is helping its subsidiary industries to flourish. ACETECH is an exhibition of designers, architects and construction material manufacturers organized by ABEC Ltd which happens every year in Delhi, Mumbai, Bangalore, Ahmedabad and Chennai. 

Emaar MGF Land Ltd, a leading real estate and infrastructure developer inaugurated the ACETECH 2013 event at Pragati Maidan, New Delhi. Dr. K Ramamurthy, CEO-Projects, Emaar MGF lit the ceremonial lamp along with other dignitaries Mr. Sumit Gandhi, CMD of ABEC Ltd, Mr. Navin Raheja CMD, Raheja Group and Architect Dikshu Kukreja of CP Kukreja and Associates. Dr. Ramamurthy then gave the inaugural speech emphasizing on contributions made by real estate industry to country's overall GDP and how it is helping its subsidiary industries to flourish. ACETECH is an exhibition of designers, architects and construction material manufacturers organized by ABEC Ltd which happens every year in Delhi, Mumbai, Bangalore, Ahmedabad and Chennai.

ACETECH 2013 is an event completely dedicated to the fast moving construction business in Asia, especially in India. This is a common platform for architect, construction and engineering fraternity to showcase their out of the box work and sharing ideas with each other. ACE represents Architecture, Construction and Engineering.

Speaking at the inaugural session, Dr. K Ramamurthy, CEO Emaar MGF said, "On behalf of Emaar MGF I congratulate ABEC for organizing this huge event. The event's emphasis on promoting innovative products, services and technologies, dovetails not just with the ethos prevalent at Emaar MGF but of the need of industry. The criticality of product and service innovation has direct bearing on cost, quality and timely delivery."

He further said, "The real estate market in Delhi NCR has developed by leaps and bounds in the past few decades and is today, by far, India's biggest real estate market. Though there are two issues that need to be addressed in order to propel our industry into higher global orbits: quality and delivery. For a real estate company to succeed, I believe timely delivery and assured quality are indispensable prerequisites. A quality-driven agenda is imperative for all real estate players. And this needs to be based upon the norms of zero defects, on-time and within-budget deliveries, innovation, and waste reduction along with prompt after-sales service." 

Speaking about ACETECH event Mr. Sumit Gandhi, CMD, Asian Business Exhibition and Conferences Ltd. (ABEC) said, "We realized that the local demand for these construction and infrastructure products is great and we came up with ACETECH. This platform really played a pivot role in construction and architecture industry. I am sure with presence of some of the great companies like Emaar MGF; this year we will create a new history to explore the new horizons of this trade."

Notes to Editor About Emaar MGF

Emaar MGF is a joint venture between MGF Developments Ltd and Emaar Properties PJSC, Dubai. The Company has been instrumental in bringing one of the largest FDI in the Indian real estate sector. Headquartered in New Delhi, the Company started operations in India in mid-2005 and is engaged in Residential, Commercial, Retail and Hospitality projects across India. The Company is driven by its mission to develop and deliver unique integrated lifestyle and work place environments and planned developments and to be recognized as a responsible corporate citizen and an employer of choice. Emaar MGF is constructing master planned developments including residential, retail and hospitality properties to provide fully integrated self contained communities. For more details please visit http://www.emaarmgf.com/

Emaar MGF Presents the Porter Prize India 2013

The Porter Prize 2013 organized by Institute for Competitiveness, India, is the second in its series and is being presented by one of India’s leading real estate companies Emaar MGF. The event is scheduled to held on October 11, 2013 at The The Leela, Gurgaon.

Applications for the prestigious award have been received from various organisations across a wide variety of industries and sectors. After a rigorous evaluation and Jury meet, the best companies in their industry would be declared as the Porter Prize winners in the six categories. 

Industry leaders, social influencers, CXO’s and other high profile corporates from leading companies of the country would be attending the high profile event. The awards would be preceded by three thought-provoking panels on Industry Dynamics and Architectural Shifts, Tradeoffs and Choices and on Fit and Synergies.

Dr. K Ramamurthy, CEO, Projects, Emaar MGF, who would also be on the panel at the event said, “The Porter Prize recognizes true leaders who have epitomized the spirit of corporate governance, and stood apart by creating value, something we at Emaar MGF salute and totally ascribe to.” 

The Porter Prize is named after the renowned thinker, Harvard faculty member and Father of the modern strategic field Professor Michael E. Porter. It commences with three panel discussions and after which the Strategy Guru Michael E. Porter will address the Indian corporates in his renowned style and manner. It will be then followed by the award ceremony. 

Dr. Amit Kapoor, Institute for Competitiveness, India was delighted to have Emaar MGF as the presenting sponsor of The Porter Prize 2013. He said, “It is a pleasure for us to have partnered with Emaar MGF for the Porter Prize. It is coming together of two significant brands that we truly appreciate”.

The event will feature three thought provoking panel discussions on strategy and shared value wherein many renowned CXO’s of various National as well as International companies, operating in India will share their ideas and views.

Some of the prominent speakers are Dr. K Ramamurthy, CEO, Projects, Emaar MGF, Ravi Varanasi (Chief-Business Development, NSE), Moses Manoharan (Editor-in-Chief, Global Dialogue Review), Gerd Hoefner (MD and CEO, Siemens Technology and Services Pvt. Ltd.), B K Sethuram (VP, Dow Coatings and Construction, Dow India), Pankaj Phatarphod (MD, RBS), CVL Srinivas (CEO, Group M, South Asia), V Shankar (MD, Rallis) etc.

There will also be special address by Nadir Godrej (MD of Godrej Industries and Chairman, Godrej Agrovert) and Dr. Devi Shetty (MD, Narayana Health).

According to Navroze Dhondy, Managing Director, Creatigies Communications, which stitched together this partnership, “Brands, companies and people all find great value when like-minded associations are created. We saw great synergy in the partnership for both Emaar MGF and The Porter prize, and were delighted that the same value was seen by both the partners.”

About Emaar MGF

 Emaar MGF Land Limited is a joint venture between Emaar Properties PJSC (Emaar) of Dubai and MGF Development Limited (MGF) of India. Emaar is one of the worlds leading real estate companies, having developed real estate across residential, commercial and other business segments and with operations in 14 countries. MGF has established itself as one of the key players in retail real estate development in Northern India.

Headquartered in New Delhi, the company started operations in India in mid-2005 and is engaged in residential and commercial projects across India. The companys operations encompass various aspects of real estate development, such as land identification and acquisition, project planning, designing, marketing and execution. The company is driven by its mission to develop and deliver unique integrated lifestyle and work place environments and planned developments and to be recognized as a responsible corporate citizen and an employer of choice. Emaar MGF is constructing master planned developments including residential and commercial properties to provide fully integrated self contained communities. 

About the Institute for Competitiveness

Institute for Competitiveness, India is the Indian knot in the global network of the Institute for Strategy and Competitiveness. Institute for Competitiveness, India is an international initiative centered in India, dedicated to enlarging and purposeful disseminating of the body of research and knowledge on competition and strategy, as pioneered over the last 25 years by Professor Michael Porter of the Institute for Strategy and Competitiveness at Harvard Business School. Institute for Competitiveness, India conducts and supports indigenous research, offers academic and executive courses, and provides advisory services to the Corporate and the Governments. The institute studies competition and its implications for company strategy; the competitiveness of nations, regions & cities and thus generate guidelines for businesses and those in governance; and suggests and provides solutions for socio-economic problems.

For more information on Porter Prize, please visit the Porter Prize website: www.porterprize.in