Saturday, September 23 2006 14:03 Hrs (IST) - World Time -

Dubai: Leading UAE-based firms, especially in the real estate sector, have joined the list of global companies, targetting investments in India in hotels, malls, healthcare, housing, IT Parks and integrated townships.

A booming economy and the huge middle class segment in India offers a lucrative destination for investors and several leading UAE real estate companies such as Emaar Properties, Al Ghurair Group's ETA Star, Al Rostamani Enterprises' KM Properties, Nakheel, and Dubai Properties have announced major plans in the country.

They are investing in hotels, malls, healthcare, housing, IT parks and integrated townships all over the country from Mumbai, Delhi, Chennai, to Hyderabad.

Emaar, the largest property developer in the Middle East, has announced a joint venture in India between Emaar and MGF Developments- Emaar MGF Land Private Ltd.

In December 2005, Emaar MGF announced India's largest foreign direct investment in real estate, for projects with a capital outlay of US$4 billion. Developments are planned in Delhi, Andhra Pradesh, Karnataka, Tamil Nadu and Maharashtra.

ETA Star is developing a mall in the heart of Chennai and a one million-square foot tech park in the city's IT corridor, Abid A. Junaid, ETA Star's executive director told the Gulf News.

The company has launched a 10-tower residential project in Bangalore, and in Mumbai's Juhu district, it has a joint venture with the Supra Group for developing service apartments, residential buildings and a mall.