Emaar demerges Indian joint venture

Dubai: Emaar Properties is demerging its Indian joint-venture, according to a statement from the Dubai-based property developer on Wednesday.

Emaar said it is reorganising its Indian division through a demerger to “lend greater focus on its Indian operations,” according to the statement. The company’s Indian unit is Emaar MGF Land Limited, a venture with India’s MGF (Motor & General Finance) Developments Limited of India.

Emaar said the demerger will allow “the business to undertake future expansion strategies”.