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Emmar MGF Planning to go ahead with IPO
Following in footsteps of DLF and Omaxe, the known property developer Emaar MGF is also planning to raise IPO (Initial public offering) in the next 12-18 months.
The company has also entered into a 50: 50 joint venture with Leighton Asia Southern, a part of $8 billion Leighton group, whose operations are spread over the entire Asia-Pacific region.
The new entity will take up potential real estate projects worth over $2.5 billion over the next five-seven years. Also, the company boasts to create a large pool of job opportunities.
Emaar MGF Land, a company formed by Emaar Properties PJSC and MGF Developments Limited of India, has chosen for a joint venture with the Australian company to complement the existing JV by offering the best construction quality and timely delivery of products and services.
The new company to form under the joint venture will be christened as Leighton Construction India and will involve investment of $150 million to provide ideal technology and international proficiency in design, construction and safety.
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