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Emaar, Marriott to Invest $400 Million in India Hotels - ASHARQ AL-AWSAT English Archive
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MUMBAI, (Reuters) – The Indian joint venture of Dubai’s Emaar Properties EMAR.DU said on Tuesday it had tied up with Marriott International Inc to build four hotels in India for a total investment of more than $400 million.

The projects in New Delhi and Amritsar in the north, Hyderabad in southern India and Kolkata in the eastern state of West Bengal are expected to be completed by 2010 and will have a total of 912 rooms, Emaar MGF Land Ltd said in a statement.

Emaar MGF will own and develop the properties while Marriott will provide advisory and management services, it said.

In February, Emaar MGF had called off a $1.6 billion initial public offering after a stock market tumble sapped investor appetite for equity offerings.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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