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Emaar Properties will invest $ 50 billion in India

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Emaar in Dh184b India venture

Staff Report

Dubai : Dubai-based real estate developer Emaar Properties will invest Dh184 billion to develop a "Knowledge Corridor", an IT community in the Indian state of Andhra Pradesh, an Emaar spokesperson told Gulf News late yesterday.

The mixed-use project is a joint initiative by the governments of Dubai and Andhra Pradesh, and Emaar has been entrusted with executing the project. It will be located on the outskirts of the state capital Hyderabad and will comprise office clusters, residential units and associated facilities.

The Knowledge Corridor, which will have a 165 km ring road, is expected to be completed in three years. It will help Dubai-based companies to outsource services in Hyderabad.

A high-ranking Emaar team is currently in Hyderabad, conducting negotiations, he said. The plans for the projects have been completed and approved, and construction is set to begin soon.

The multi-media outsourcing corridor, once set in place, will greatly improve the city's stature as a leading IT hub in South Asia, which has a strong IT human resource base.

http://www.gulf-news.com/Articles/Business...rticleID=184265

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