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Emaar clarifies its 'project commitments' to India

The statement on Dubai Financial Market (DFM) also mentioned India to be a key market for Emaar

Emaar is committed to its projects in India
Emaar is committed to its projects in India

Dubai property developer Emaar said in a statement it was committed to its projects in India through its joint venture Emaar MGF.

The statement on Thursday, 23 July, 2015, on Dubai Financial Market (DFM) also mentioned India to be a key market for Emaar.

The filing followed a report in India's daily Economic Times which quoted unnamed sources as saying Emaar was close to ending its decade-old joint venture with Indian firm MGF.

"We would like to clarify that India is a key market for Emaar and we are committed to the success of our projects in India through our company, Emaar MGF Land Ltd," Emaar said in the statement.

"As part of streamlining our growth strategy, we conduct regular reviews of the ongoing operations of the company," it said, adding that it was considering a number of options to ensure that its growth objectives were met, and would disclose any information if and when it was finalised. It did not elaborate.

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