Dubai-based real estate major Majid Al Futtaim is planning to enter India and is in the process of identifying a local partner for building shopping malls, residential properties and other commercial spaces.
Confirming the news, Younis Al Mulla, VP, business development, Majid Al Futtaim, said: “We are studying the Indian market and soon have a place in the country. India is the company’s target and we need to set up operations in the next one or two years.”
Informing plans, Mulla said: “We are visiting India again in June to organise road shows in major cities including Bengaluru, Delhi, Mumbai and Goa.” A team from the company had already visited India in March and have held discussions with various companies.
The company has a retail arm under the brandname MAF Retail and operates Majid Al Futtaim Hypermarkets, a joint venture company with the world’s second largest retailer Carrefour.