Dubai-based real estate major Majid Al Futtaim (MAF) is likely to enter India for which it is in the process of identifying a local partner. The country's estimated 16 billion dollar realty sector, which has already attracted UAE-based players like Emmar, Limitless, Nakheel and SmartCity, has been identified by MAF as a 'market to be in'. The company is looking to tie up with a local player to build shopping malls, residential properties and other commercial spaces. "We are studying the Indian market and soon we are going to have a place in the country. India is the company's target and we need to set up operations in the next one or two years," Majid Al Futtaim VP Business Development Younis Al Mulla said. He said a team of senior company officials visited India in the month of March to evaluate various options and held talks with companies here. "We are visiting India again in June to organise roadshows in major cities, including Bangalore, Delhi, Mumbai and also Goa," he added. Asked about the investments planned for India, Al Mulla said, "We do not know it yet as nothing has been finalised. We have not decided on that." MAF also operates hypermarkets, in joint venture with the world's second largest retailer Carrefour, in the Middle East, North Africa, Iran, Pakistan and other markets.


  1. Realty Rider // 4:12 AM  

    Higher rate of returns in real estate investments in India, projects that comply with international standards, greater affordability, apart from emotional reasons like ‘owning a piece of homeland’ were driving the NRI segment growth in the real estate sector in the India. Today with more and more Indians looking at returning home and relocating themselves given better employment opportunities in India, NRIs are now looking at investing in the real estate in the country with a view to make India their future homes. Those who were making the transition from overseas to India, want to ensure that the transition is smooth, especially for their children, many of whom India would be a new living experience. A lifestyle match is what these people are looking for when investing in property here. While some preferred contemporary designs, others were searching for homes that were nostalgic and brought back memories of childhood or times spent in courtyard of a village, where just-rolled out papads lay toasting in the sun, or those ethnic porches where the family sat together enjoying the little ones tumble and roll at play.For more view-