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Dubai's Emaar plans $150 million investment in India

Dubai-based real estate blue-chip Emaar Properties plans to invest about $150 million in the construction of residential blocks, a shopping mall and a golf course in Hyderabad.

"We are going to see a few locations for the projects," Mohammed Ali Alabbar, Director-General in Dubai's Department of Economic Development, told a news conference.

"A shopping mall requires at least 230,000 sq ft. A golf course will need 230 hectares on the city's outskirts. About 250 to 300 houses will also be built adjacent to the golf course," he said.

Hyderabad is the capital of Andhra Pradesh state and is emerging as a centre for India's information technology industry.

Ahmed Bin Sulayem, director-general of Dubai's Department of Tourism and Commerce Marketing, said the Dubai government and Andhra Pradesh had signed an agreement to co-operate on tourism.

"A delegation of tour operators from Dubai will be visiting India in October. A business delegation will also visit Hyderabad and four other cities in September," Sulayem said.

He said the business delegation would discuss the possibility of developing Gangavaram port on the Andhra Pradesh coast and of building a cargo complex and a free trade zone near the port city of Vishakhapatnam.

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