Emaar MGF plans to roll out IT Parks

August 22, 2008	(Be the first to rate this story!)  Loading ...
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Emaar MGF will build IT parks named Digital Greens spread across various IT cities. The building will be first unveiled in Chennai real estate and this will be replicated in other IT cities such as Hyderabad, Gurgaon, Mohali and Pune. Mr Shravan Gupta, Executive Vice Chairman and Managing Director, Emaar MGF says that real estate in cities like Chennai have good demand for Information Technology and IT Enabled Services. Interestingly, Emaar MGF has zeroed in on most of these IT cities for their upscale residential real estate developments as well. So whether it is Mohali Hills at Chandigarh or Esplanade in Chennai Real Estate markets or Boulder Hills in Hyderabad. Mohali Hills is an integrated township on the outskirts of Chandigarh and it comprises residential plots, villas and hi-rises. According to Shravan Gupta, “We have received overwhelming response to this project and have marketed 1,000 acre already.”

But with the changing rupee to dollar ration and a dent in India’s software exports, will IT continue to drive the real estate or will they look for alternate drivers of commercial real estate. Shravan Gupta says that the IT sector has acted as a catalyst so far in the commercial real estate in Chennai and other parts of the country. Right now there is enough momentum in the market to take on slowdown in any segments of commercial real estate. There is scope for good office spaces, shops, showrooms and a plethora of options in commercial real estate.

News Published Under:   Real Estate Developers |

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