Emaar MGF complex to come up in Shillong

Emaar MGF complex to come up in Shillong
The Financial Express, August 25, 2009, Page 2

fe Bureaus

In what could be the largest realty project in north-east, Emaar MGF Land in a joint venture with Windermere would set up a residential complex in Shillong at an initial investment of Rs 400 crore.

Once completed, the 84-acre Windermere Estate coming up at Umpling in Shillong would have villas, community retail centre, clubhouse and a hotel, a company statement said on Monday.

"The development of Windermere Estate would have a multiplier effect on the local economy and provide employment, which will directly and indirectly benefit over 1,000 people. More importantly, this move is a reflection of Shillong's growing stature as a prominent business and education hub and a world-renowned tourist destination in the north east," the statement further added. "We have keenly studied the north-east market. Our internal deliberations clearly identified Shillong as the city with tremendous value-proposition and growth for evident reasons; well-traveled populace, changing tastes and a desire to own the best," Sanjay Choudhary, CEO (East), Emaar MGF said.

"With Emaar MGF's expertise in developing Commonwealth Games Village in New Delhi, the company would bring in similar expertise to develop Windermere Estate," Charles Pyngrope, Meghalaya Assembly Speaker and a partner of the project added.