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Emaar MGF sees no Dubai crisis fallout
Flags for property company EMAAR, builders of Burj Dubai the world's tallest tower, are seen in Dubai, November 27, 2009.
Credit: Reuters/Steve Crisp/Files
NEW DELHI |
NEW DELHI (Reuters) - Indian real estate firm Emaar MGF, a joint venture between Indian financier MGF and the UAE's Emaar Properties, said on Friday the Dubai debt crisis will have no impact on its business and funding plans.
"The recently announced plans in respect of debt of Dubai World has no impact on Emaar Properties PJSC financial position or operations or its ability to meet any obligations," the Indian firm said in a statement.
"Emaar Properties remains committed to its investments and Emaar MGF's business in India," it said.
Emaar MGF filed papers with the Indian stock market regulator in September for an initial public offer, which sources said could raise about 40 billion rupees ($860 million).
(Reporting by Devidutta Tripathy; Editing by Malini Menon)
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