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FINANCIAL NEWS
Emaar to end USD1.5b JV with MGF Development
22 Jul 2015
(MENAFN) Emaar Properties is set to end a joint venture with the India-based MGF Development, which was originally formulated with a USD1.5 billion investment by the Dubai-based firm, Arabian Business reported.
The break up comes after ten years of cooperation with the Indian company, which has been solidifying its presence in the UAE during the entire period. Both entities now are looking to separate assets.
“Both partners are in advanced discussions to finalize the contours of the separation exercise, which is likely to be complex as it involves many running projects and large land parcels,” an anonymous source said.
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