Dubai’s Emaar, Accor form hotel JV in India
The Indian unit of Dubai-based Emaar Properties has set up a joint venture with French hotel chain Accor to develop 100 budget hotels in India, the two companies said on Monday.
The JV will invest $300 million over 10 years to roll out 10,000 hotel rooms in India, said Mohamed Ali Alabbar, chairman of Emaar, the largest Arab real estate company by market value.
Emaar is working on a series of property developments across the Arab world and South Asia.
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