Emaar India LTD, a Dubai based realtor firm has recently acknowledged the incompletion of various development projects undertaken by it. The current CRO of the firm has come out to reassure the general public that the aforementioned projects will be completed satisfactorily. The number of units to be constructed to meet this lofty goal that the company has set upon itself is to the accourd of 10,000 houses. According to the CEO, the justification for the dormant state of the projects is the unavailability of funds required to follow through. Diving into particulars, the CEO estimated a cost of approx Rs. 800-1000 Cr was to be fulfilled if the projects are to be completed.
In a volatile climate where the doom of many contemporary real estate companies has been caused due to the forsaking of ongoing projects, the stand taken by Emaar group is refreshing, if not reassuring. The CEO comforted the masses by iterating upon the steps taken by the company to make sure it achieves it's agenda, which include, but are not limited to the mobilization of more labour personnel, as well as aquisition of the pre requisite funds from banks in the form of construction finance.
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