MGF poised for the next phase of growth
MGF Developments, one of India’s leading real estate companies, has drawn up ambitious plans to launch commercial and residential projects in Delhi NCR. These will be the company’s first steps post their demerger from the joint venture Emaar MGF. The Company is in the process of getting all required statutory approvals for the said projects.
MGF Developments is promoted by Shravan Gupta, a well-known and highly respected name in the real estate sector. The erstwhile Vice-Chairman of Emaar-MGF, Mr Gupta was instrumental in bringing the largest FDI in real estate in India through the joint venture with Emaar.
For inorganic and organic growth opportunities in real estate businesses the partners mutually decided to demerge in 2016. Gupta has spent long hours in the two years since the demerger on creating a synergy between his vision for MGF Developments, and the evolving Indian real estate scenario. Expanding on his future-forward vision for MGF Developments, Gupta says, “I have no doubt that we will continue developing and creating structures that constantly and consistently breaks ground. Constant reinvention is key, and I believe we have what it takes to reach newer heights of greatness.”
He adds, “In real estate, one needs to redefine oneself constantly. There’s a massive evolution in what the consumer wants now from a piece of real estate he or she owns. As developers, we have to be tuned to customer needs.”
“We identify and acquire key land locations and through use of international best practices offer premium real estate products across various categories using of our dedicated and experienced professional workforce. We further endeavour to use the latest technological advances and techniques for continuous growth of the organisation, its performance and excellence in service quality to create value for our customers’’.
MGF development is a debt-free company, with a land bank of over 3000 acres of with prime land spreading across Delhi, Gurugram, Mohali, Chail, Dehradun, Lucknow, Amritsar, and Delhi. As a pioneering name in the retail development market, MGF planned, executed and launched 7 major retail destinations across Delhi NCR and Jaipur. MGF is one of India’s leading retail developers with about 5 million square feet of retail space. Shopping malls developed by MGF include The Metropolitan, The Metropolis and Megacity Mall in Gurugram; City Square and MGF Metropolitan Mall in Delhi; and MGF Metropolitan Mall in Jaipur.”