Emaar MGF to make foray into India's health and education sectors

May 2, 2007, 7:39 GMT

New Delhi - Global real estate major Emaar Properties and its partner the MGF group on Wednesday announced plans to enter India's healthcare and education sector with a chain of 50 hospitals and 100 schools and universities over the next seven years, a news agency reported.

'In the healthcare sector the company plans to launch a chain of 50 hospitals in the next seven years,' Emaar MGF Land Private Limited Managing Director Shravan Gupta told the PTI news agency.

In the education sector, the company is aiming at 100 schools and some universities in India during the same period, Gupta added.

Emaar MGF Land Private Limited is a joint venture between Dubai-based Emaar Properties and MGF group - India's leading real estate developer.

The company declined to give the total investment figure adding that negotiations were continuing with international and domestic players for operating some hospitals and schools.

Besides general hospitals, the company would establish specialty hospitals in various fields. Schools and universities would be set up in the fields of business administration, retail management, arts, nursing, hospitality and tourism, Gupta said.

Emaar MGF is engaged in residential, commercial, infrastructure and hospitality projects in 30 cities across India, including national capital New Delhi.

The joint venture has brought in the largest foreign investment amounting to approximately 1 billion dollars in India's real estate sector.