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Realty major <keyword id="438918" type="UNKNOWN" weightage="100" keywordseo="Emaar-India">Emaar India</keyword> will invest Rs 2,000 crore over the next two years to complete all its ongoing 50 projects across the country, a top company official told <keyword id="6367495" type="COMPANY" weightage="20" keywordseo="PTI">PTI</keyword>.<br /> <br /> Dubai-based <keyword id="83201" type="CITY" weightage="20" keywordseo="Emaar-Properties">Emaar Properties</keyword> entered the Indian real estate markin 2005 in partnership with India's MGF Development and invested Rs 8,500 crore through the joint venture firm <keyword id="44918" type="COMPANY" weightage="20" keywordseo="EMAAR">Emaar</keyword> MGF Land.<br /> <br /> In April 2016, Emaar <keyword id="53077" type="COMPANY" weightage="20" keywordseo="Properties">Properties</keyword> announced its decision to end the 11-year-old JV through demerger. Since then, its Indian venture Emaar India is focusing on execution of ongoing projects, according to PTI.<br /> <br /> "Our focus in on delivery. We are putting in place all components required to complete our ongoing projects. We have increased the number of labourers on sites to over 10,000 from 1,000 a year ago," Emaar India CEO Sanjay <keyword id="35" type="PERSON" weightage="20" keywordseo="Malhotra">Malhotra</keyword> told PTI.<br /> <br /> The company has about 50 ongoing projects in Gurgaon, Jaipur, Lucknow, Mohali and Chennai comprising about 10,000 housing units.<br /> <br /> "We have got completion certificates for 2,000 apartments since July last year and these units are being handed over to customers. We are targeting to hand over all 10,000 units in the next two years," Malhotra said.<br /> <br /> Asked about investment, he said the company will infuse Rs 1,000 crore each in the current and next financial year on construction.<br /> <br /> Emaar India's CEO said the company has raised Rs 2,500 crore debt in last one year, of which about Rs 1,500 crore was used to replace costlier debt and rest on construction. The company currently has a debt of about Rs 5,000 crore.<br /> <br /> It would be raising more debts for construction purpose but there would be no equity infusion from parent Emaar Properties.<br /> <br /> Emaar India has brought in a new project management team to expedite projects. The uncertainty over the JV delayed execution of projects.<br /> <br /> On unsold stocks, Malhotra said the company does not have much unsold inventories.<br /> <br /> "We will be having unsold stocks of about Rs 600-700 crore, mostly on <keyword id="6385900" type="UNKNOWN" weightage="20" keywordseo="Dwarka-Expressway">Dwarka Expressway</keyword> in Gurgaon," he said.<br /> <br /> In line with market trend, the company has cut price by 10-15 per cent in projects on Dwarka Expressway to clear unsold stocks.<br /> <br /> Asked about new launches, Malhotra said the company could launch one or two projects later this year depending on the market condition.<br /> <br /> Considering the current slow market condition, he said the company "will make what we can sell".<br /> <br /> The demand currently is for apartments of lower ticket size, he said.<br /> <br /> Real estate market, especially housing sector, is facing a multi-year demand slowdown that has led to significant delays in delivery of projects and forced consumers to protest and even file legal cases.<br /> <br /> On the demerger, Malhotra said he expects the process to be completed by the end of this year.<br /> <br /> Emaar Properties had in April last year said it has "agreed to take steps for the reorganisation of Emaar MGF Land by way of scheme of arrangement (demerger)".<br /> <br /> The reorganisation was being done for greater focus on its Indian operations and for the purpose of developing the potential for further growth and expansion of the business, it had said then.<br /> <br /> The projects and land bank have been divided between the two partners. Emaar India has a land bank of 6,000 acres for future developments.<br /><br />

Emaar India to invest Rs 2,000 cr in 2 years to complete projects

<ul class="summary-list"><li><keyword id="6354539" type="UNKNOWN" weightage="60" keywordseo="dubai" source="Orion">Dubai</keyword> recorded more than 11,000 real-estate transactions in January and February, a record for the city.</li><li>Dubai is seeing a spike in demand from Russian and Ukrainian buyers, agents told Insider.</li></ul><p>Dubai's real-estate market is off to a roaring start to the year.</p><p>The city recorded 11,071 transactions in January and February, the highest it has ever recorded in the first two months of the year, according to a <a href="https://www.cbre.ae/en/research-and-reports/Dubai-Residential-Market-Snapshot-March-2022">CBRE</a> report.</p><p>The record follows a strong 2021: The total value of residential transactions in Dubai last year hit $35 billion — the highest the city has recorded since the global financial crisis — per a report from <a href="https://research.euro.savills.co.uk/uae/uae-2022-report---ar.pdf">Savills</a>.</p><p>Insider spoke to three Dubai-based real-estate agents to get an inside look at what's happening with the market right now.</p><h2>Surging demand for luxury off-plan properties</h2><p>Demand for off-plan properties — projects that have yet to be constructed — has been robust, Thomas Fawcett, the cofounder of Dubai-based luxury real-estate firm <a href="https://www.theproperty.ae/">The Property</a>, told Insider. Projects due to be completed in 2024 and 2025 are selling out in a day, Fawcett said.</p><p>Fawcett said demand has been particularly high for the luxury <keyword id="11916125" type="UNKNOWN" weightage="60" keywordseo="housing" source="Orion">housing</keyword> developments at <a href="https://properties.emaar.com/en/our-communities/emaar-beachfront/">Emaar Beachfront</a>, which has a private beach, and <a href="https://peninsula.select-group.ae/">Peninsula by Select Group</a>, which is by the Dubai Canal.</p><div type="image" title="A row of residential buildings along Dubai's coast" height="5657" width="7542" msid="90413836" hostid="261"></div><p>In March, <a href="https://www.fatf-gafi.org/publications/high-risk-and-other-monitored-jurisdictions/documents/increased-monitoring-march-2022.html" target="_blank" rel="noopener noreferrer">The Financial Action Task Force</a> (FATF), an <keyword id="6356001" type="UNKNOWN" weightage="60" keywordseo="international" source="Orion">International</keyword> money-laundering watchdog, put the UAE on its "gray list." In response, the <a href="https://www.mediaoffice.abudhabi/en/economy/uae-continues-progress-and-reconfirms-its-deep-commitment-to-AML-CFT-following-FATF-decision/" target="_blank" rel="noopener noreferrer">UAE's Executive Office of Anti-Money Laundering and Countering the Financing of Terrorism</a> said the country is committed to fighting financial crime and said it "will work closely with the FATF to quickly remedy the areas of improvement identified."</p><p>Despite its designation, Dubai's <keyword id="12135639" type="UNKNOWN" weightage="60" keywordseo="property-market" source="Orion">property market</keyword> remains popular with investors.</p><p>"The massive opportunity for investors is finding a good off-plan project and looking ahead, two to three, four years time, looking at where the market trajectory is going be, and then hopefully making the capital appreciation on these purchases that they are making today," Fawcett said.</p><p>With working from home being the norm, Fawcett has said he's seeing increased interest in larger residences in Dubai. The values of villas in Dubai has risen nearly 22% since the start of the pandemic, per a <a href="https://content.knightfrank.com/research/2408/documents/en/dubais-covid-comeback-2022-8855.pdf">Knight Frank</a> report.</p><p>While Dubai's luxury real-estate market has long been popular with Russian investors, the war in Ukraine has further boosted Russian demand. "We're receiving requests every day from Russia," said Fawcett.</p><p>"It's increased, obviously, with the uncertainty of Russia and what's going on," He added. "People don't know what's going to happen to their money."</p><p>Unlike the West, the UAE has not levied <a href="https://www.reuters.com/markets/asia/uae-could-be-russian-oligarchs-next-playground-2022-03-04/" target="_blank" rel="noopener noreferrer">sanctions</a> against Russia. While it remains one of the few places in the world where Russian money is welcomed, with the <a href="https://markets.businessinsider.com/news/currencies/russia-rouble-ukraine-putin-attack-market-halt-trading-rout-sanctions-2022-2">tumbling ruble</a> and sanctions kicking in, the difficulty now lies in completing the transaction. </p><p>"They want to buy, but they literally cannot deliver the payment," Fawcett said of Russians looking to make real-estate investments in Dubai.</p><h2>Conflict accelerated Ukrainian buyers' decision to purchase</h2><p>Russia's invasion of Ukraine has also driven up demand from Ukrainians looking to flee the war, <a href="https://www.drivenproperties.com/">Driven Properties</a> partner Khadija Otmani told Insider. These are people, she said, who were already considering making property purchases before the invasion started.</p><p>"They've been thinking about it since a very long time ago. And instead of taking their time, it just accelerated what they were already about to purchase," said Otmani, who primarily deals with properties that are above 5 million euros ($5.49 million), specializing in penthouses and villas.</p><p>Earlier this month, the UAE scrapped and then reinstated a policy granting Ukrainians visa-free entry into the country, <a href="https://www.cnbc.com/2022/03/03/uae-reinstates-visa-on-arrival-for-ukrainians-in-quick-reversal.html">CNBC</a> reported.</p><div type="image" title="Image of skyline" height="3820" width="5094" msid="90413837" hostid="261"></div><p>The pandemic has also been a factor: In July 2020, Dubai became one of the first cities to reopen internationally as many other countries kept their borders closed. The demographics of the city's luxury real-estate investors shifted as confidence in the government's COVID-19 management soared, Otmani told Insider.</p><p>Previously, the bulk of her clients were either local, from Gulf countries like Saudi Arabia and Kuwait, or from India. As the pandemic progressed, Otmani noticed an uptick in demand from clients in Europe and other parts of Asia, including people who had never previously shown interest in Dubai.</p><h2>Completing purchases without setting foot in Dubai </h2><p>Across the globe, the process of <a href="https://www.nytimes.com/2020/11/11/realestate/10virtual-deals.html">buying real estate has gone virtual</a>. This includes not just payments or the signing of contracts, but livestreams of house viewings as well — and Dubai is no exception.</p><p>"A lot of my clients, they're not actually here," said Nate Dania, the founder and CEO of <a href="https://www.planbadvisory.com/">Plan B Advisory,</a> which oversees residency solutions and prime property investments. He has been working in <keyword id="11893295" type="UNKNOWN" weightage="100" keywordseo="real-estate" source="Orion">real estate</keyword> since 2007.</p><p>"We've seen a big shift in terms of clients who buy remotely, especially for off-plan projects because there's not really anything to see. Maybe sometimes there's a show apartment, but mostly it's sold on concept and paper," he added.</p><p>Such deals can be closed after a Zoom call, a livestream tour of the show apartment if it exists, and little else, Dania told Insider. Developments he's closed virtually include <a href="https://sixsenses.luxury-developments.com/?gclid=CjwKCAjwiuuRBhBvEiwAFXKaNCpYG2Lv1tRD5B11NRS0byJi565nx-y1gyQM_dP4qWP4yAIk0TU8TRoCg9sQAvD_BwE">Six Senses Residences by Select Group</a> and <a href="https://www.oneatpalmjumeirah-omniyat.com/">One Palm by Omniyat</a>, both of which are located on the Palm Jumeirah.</p><div type="image" title="An interior shot of a living room in a high rise apartment." height="500" width="666" msid="90413838" hostid="261"></div><p>"There was a client who's based in Los Angeles, which is pretty far off. And we did everything remotely. So I sent them all the information for the Six Senses Residences and then they really liked it," Dania said.</p><p>"It was about $6 million," he added.</p>

Luxury projects selling out years in advance and a record-setting start to the year: 3 Dubai real-estate agents detail what the market looks like right now

New Delhi, Feb 27 () Jason Kothari, who has the distinction of transforming several distressed Indian Internet firms, shares the turnaround story of his journey from a rebel, train-wreck kid to one of the top ten paid young executives in the country.<p>As a college student at Wharton, Kothari scraped together money from family and friends to save his childhood favourite comic book company, Valiant Entertainment, from bankruptcy and bring it back to life. A few years later, he transformed Valiant into the third-largest superhero entertainment company in the world after Marvel and DC Comics and sold it for USD 100 million.</p><p>Jason then became a professional turnaround leader and went on to transform distressed Indian Internet firms Housing.com, FreeCharge and Snapdeal, and advise giants like technology investor Softbank and real estate developer Emaar.</p><p>In his book "Irrationally Passionate: My Turnaround from Rebel to Entrepreneur", Kothari share's his turnaround story and the many learnings from it with students and young entrepreneurs to help them in their journey.</p><p>Published by Harper Business, the book tells how Kothari started as an assistant to Jackie Chan in Hong Kong, learned strategy from champion Muay Thai fighters in Thailand, tackled huge personal setbacks and became a CEO in 60 seconds, among many other stories.</p><p>As the CEO of Housing.com, Kothari is credited with leading the transformation of the distressed company and a merger with News Corp's PropTiger to create the USD 350 million industry leader.</p><p>Following this, he was the Chief Strategy &amp; Investment Officer of Snapdeal, where he played a lead role in transforming the distressed company from a monthly loss of over USD 20 million to a profit, the first for an Indian e-commerce company.</p><p>He was also the CEO of FreeCharge, where he led the sale of the company to Axis Bank for USD 60 million.</p><p>He says his book, releasing on March 11, is something all entrepreneurs are - "the risk and return profile of entrepreneurship never justifies becoming an entrepreneur".</p><p>According to HarperCollins India publisher Krishan Chopra, "From a rebel teenager, to creating the third largest superhero entertainment company in the world, to his 'mission impossible' work in India's Internet space, the book tells you that you can create your own turnaround story at any stage in life."</p><p>Kothari says his earliest brush with entrepreneurship was when he eight years old and he successfully negotiated with a vendor on the sun-baked streets of Agra on the way to the Taj Mahal with his parents.</p><p>The vendor was charging Rs 500 for a chessboard but had to finally agree to Kothari's bargained price of Rs 30.</p><p>"Since that day in Agra I've been fortunate enough to negotiate dozens of deals totalling billions of dollars. But that first negotiation still holds a special place in my heart. It was the first of many steps along an entrepreneurial journey that transformed the trajectory of my life," he says.</p><p>The key to success, according to him, is mastering the art of the turnaround.</p>"Not just in business but in life as well. With all due respect to my professors at Wharton, learning how to orchestrate a comeback can't be learned solely in a classroom studying business theory. And triggering a turnaround in one's personal life is even harder. But it can be done with the power of passion," he says.  ZMN  RBRB

Jason Kothari reveals mantra of turnaround success in book

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The <a href="http://www.businessinsider.in/searchresult.cms?query=Directorate+of+Enforcement">Directorate of Enforcement</a> has issued show cause notices to as many as 61 firms. This includes illustrious names in the industry like <a href="http://www.businessinsider.in/searchresult.cms?query=Emaar+MGF+Land">Emaar MGF Land</a>, <a href="http://www.businessinsider.in/searchresult.cms?query=Sahara+India">Sahara India Commercial Corp</a> and <a href="http://www.businessinsider.in/searchresult.cms?query=McDonald%27s+India">McDonald's India</a> for violation of FDI norms over three years.<br />
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"The Directorate has issued show cause notices on 61 companies for contravention of <a href="http://www.businessinsider.in/searchresult.cms?query=FDI">FDI</a> norms during the last three financial years and the current financial year," <keyword id="84" type="ORGANIZATION" weightage="100" keywordseo="Commerce">Commerce</keyword> and Industry Minister Nirmala Sitharaman said in a written reply to the Rajya Sabha.<br />
<br /> Other companies found guilty include Libero Sports India, Risco Impex Co, Swift Chemicals, Salem Steel Industries, Spring Technologies and Westcot Hotels. The directorate probes companies under Foreign Exchange Management Act, 1999 (FEMA) to detect violations FDI norms. Such cases are referred by the RBI to the <keyword id="472903" type="ORGANIZATION" weightage="100" keywordseo="Directorate-of-Enforcement">Directorate of Enforcement</keyword>.<br />
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India attracted nearly $9.45 billion FDI during April-May this fiscal.<br />
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Image credit: Indiatimes<br />

61
firms get show cause notices for FDI. Wait till you hear the names

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span><a href="https://www.instagram.com/harrisonxjacobs/">Harrison Jacobs/Business Insider</a></span></p></div><p></p></div></div></p><ul class="summary-list"><li><strong>The city of <a href="https://www.businessinsider.com/category/dubai">Dubai</a> in the United Arab Emirates is known for extravagant, newly built landmarks like the Burj Khalifa, the <a href="https://www.businessinsider.com/dubai-palm-jumeirah-artificial-island-2018-12">Palm Jumeirah</a>, and the <a href="https://www.businessinsider.com/dubai-mall-worlds-second-largest-mall-2018-11">Dubai Mall</a>.</strong></li><li><strong>In just over two decades, the city has transformed from a desert backwater port to a thriving metropolis with the third-most skyscrapers in the world.</strong></li><li><strong>By comparing photographs of the city in the 1960s and 1970s to photographs of the city today, it becomes apparent how radically Dubai has changed.</strong></li></ul><p> </p><p>Three decades ago, Dubai was little more than desert.</p><p>Before the discovery of oil in Dubai in 1966, the city was an unremarkable port in the Gulf region. While it had existed as a trading port along important Middle Eastern trade routes since the 1800s, its main industry <a href="http://www.dubai.ae/en/aboutdubai/Pages/DubaiHistory.aspx">was pearling, which dried up after the 1930s</a>.</p><p>Here's what one of the main thoroughfares in Dubai looked like in 1961, prior to the discovery of oil:</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>AP Photo/Robert Rider-Rider</span></p><p class="caption">This dusty thoroughfare dotted with palm trees is one of the main streets in Dubai in 1961.</p></div><p></p></div></div></p><p>As it did for many Gulf countries, oil changed everything. While Dubai's reserves were nothing compared with those  its neighbor in the United Arab Emirates, Abu Dhabi, Dubai's ruler, Sheikh Rashid bin Saeed Al Maktoum, was determined to turn the city into a trading hub.</p><p>From an early period, the revenue from oil was put toward developing Dubai for a day when it would no longer have that income source to rely upon.</p><p>In the 1960s and 1970s, the Dubai Creek, a saltwater creek that runs through the center of the city, was dredged several times to allow progressively larger ships to pass through and trade. Here's what the creek looked like in 1969:</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>AP Photo</span></p><p class="caption">This general view of Dubai in 1969, one of the Persian Gulf trucial states, shows in the foreground the sleek smuggling dhows which run gold and Swiss watches to India.</p></div><p></p></div></div></p><p>But even as recently as 1979, the city was trudging along. Here's what the Dubai Creek looked like then:</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>AP Photo/Peter Kemp</span></p><p class="caption">Skyline view of high rise buildings and ships in Dubai, on the Edge of Dubai Creek in the United Arab Emirates in 1979</p></div><p></p></div></div></p><p>By most accounts, things changed in the 1990s and early 2000s. In 1985, the city opened the Middle East's first major "free zone" - a place where foreign companies could operate with almost no taxes or customs and with streamlined bureaucracy - at Jebel Ali.</p><p>Here's what the city looked like from an aerial view in 1987:</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>AP Photo/Greg English</span></p><p class="caption">his is an aerial view of Dubai, United Arab Emirates, showing the Dubai Creek, a serpentine waterway, and the dry docks in the background, Sept. 1987</p></div><p></p></div></div></p><p>Meanwhile, wars in Iraq and Afghanistan pushed up the price of oil, resulting in tons of capital for Gulf states. And general instability <a href="https://nextcity.org/daily/entry/how-dubai-became-dubai">increased the attractiveness of Dubai as a place for investment</a>, according to "A History of Future Cities," by Daniel Brook .</p><p>In the years after 9/11, Dubai's economy kicked into full gear and a development boom began that, aside from a drastic crisis around 2009, never ended.</p><p>In 2007, Morgan Stanley <a href="https://www.khaleejtimes.com/editorials-columns/dubai-s-innovative-model-of-development">estimated the city had 20%</a> of the world's construction cranes. Most of the development was driven by the state-owned Dubai World company and Emaar Properties, a formerly government-owned enterprise that is now publicly traded.</p><p>The development boom has resulted in the world's tallest building, <a href="https://www.businessinsider.com/dubai-mall-worlds-second-largest-mall-2018-11">the second-biggest mall</a>, one of the most luxurious hotels, and more skyscrapers than any city besides New York and Hong Kong. </p><p>Here's what the Creek looked like when I visited last month:</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span><a href="https://www.instagram.com/harrisonxjacobs/">Harrison Jacobs/Business Insider</a></span></p></div><p></p></div></div></p><p>And then downtown:</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span><a href="https://www.instagram.com/harrisonxjacobs/">Harrison Jacobs/Business Insider</a></span></p></div><p></p></div></div></p><p>And along Sheikh Zayed Road, the main highway in Dubai:</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span><a href="https://www.instagram.com/harrisonxjacobs/">Harrison Jacobs/Business Insider</a></span></p></div><p></p></div></div></p><p>The city is far from done developing. Reuters<a href="https://www.reuters.com/article/us-emirates-dubai-future/dubai-recipe-for-economic-success-looks-stale-as-markets-slump-idUSKBN1KC08V"> reported in July</a> that massive government spending for the World Expo in 2020, which Dubai will host, is propping up economic growth in recent years.</p><p>Projects currently under construction include the extravagant Museum of the Future, Gate Avenue, a ground-level, $272 million development that <a href="https://gateavenue.difc.ae/">cuts</a><a href="https://gateavenue.difc.ae/"> through the financial district</a>, and Dubai Creek Harbour.</p><p>The Dubai Creek Harbour complex will include the Dubai Creek Tower, set to be the tallest tower in the world, and Dubai Square, a <a href="https://edition.cnn.com/travel/article/dubai-square-mall-dubai-creek/index.html">$2 billion mega-mall</a> that will be the biggest in the world. </p><ul class="read-more-links"><li><strong>More on Business Insider's visit to Dubai:</strong></li><li><a href="https://www.businessinsider.com/dubai-rapid-development-skyscrapers-expansion-warning-2018-12">A walk through Dubai's supercity of futuristic skyscrapers made me uneasy for any city that mimics its rapid development</a></li><li><a href="https://www.businessinsider.com/dubai-travel-budget-guide-photos-tour-2018-11">I visited outlandishly wealthy Dubai, known as the 'city of gold,' and was surprised by how much fun you can have even without billions</a></li><li><a href="https://www.businessinsider.com/dubai-souks-markets-gold-spices-textiles-2018-12">Dubai's most outrageous open-air market sells only gold and has a $3 million, 141-pound gold ring</a></li><li><a href="https://www.businessinsider.com/dubai-united-arab-emirates-art-middle-east-africa-2018-12">Dubai is already a tourist favorite, and now the city's sights are set on the next milestone: becoming the center of art in the Middle East and Africa</a></li><li><a href="https://www.businessinsider.com/dubai-mall-worlds-second-largest-mall-2018-11">Dubai has a $20 billion megacomplex with the world's 2nd-largest mall, the world's tallest building, an aquarium, and 1,200 stores. I can't imagine why any tourist would visit.</a></li></ul>    <div class="margin-top">        <h3>NOW WATCH: <a href="https://www.businessinsider.com/avengers-endgame-trailer-breakdown-easter-eggs-hidden-details-2018-12">Hidden meanings in the 'Avengers: Endgame' trailer</a></h3>        <div>                    </div>    </div>

Dramatic photos show how radically Dubai has changed in 50 years

<ul><li>In <keyword id="571306" type="General" weightage="100" keywordseo="mountain-dew" source="Orion">Mountain Dew</keyword>'s latest edition of <keyword id="5631020" type="General" weightage="20" keywordseo="Darr-ke-aage-jeet-hai" source="Orion">Darr ke aage jeet hai</keyword>, <keyword id="6354563" type="General" weightage="20" keywordseo="hrithik-roshan" source="Orion">Hrithik Roshan</keyword> is seen speeding down <keyword id="92239" type="General" weightage="80" keywordseo="burj-khalifa" source="Orion">Burj Khalifa</keyword> on a bike.</li><li> The TVC is a reiteration of Mountain Dew’s belief that in the face of any challenge there are 2 choices; either succumb to fear &amp; turn back or overcome the fear &amp; move ahead – it is this choice that sets the real heroes apart from the rest.</li></ul>Mountain Dew is back with its latest Darr ke aage jeet hai campaign. The beverage brand has unveiled its new power packed TVC today featuring Bollywood superstar and brand ambassador Hrithik Roshan. Taking the excitement up a notch, the film has been shot on the top of the world’s tallest building – Emaar’s Burj Khalifa in Dubai. The TVC is a reiteration of Mountain Dew’s belief that in the face of any challenge there are 2 choices; either succumb to fear &amp; turn back or overcome the fear &amp; move ahead – it is this choice that sets the real heroes apart from the rest.<br /><br />  <div type="javascript" title="Instagram" contenttype="Video"><cdata><![CDATA[ ]]></cdata></div><br />Based on the life insight of ‘Darr Ke Aage Jeet Hai’ the film opens to a birds-eye view shot from the top of the Burj Khalifa where Hrithik gears up to perform a daring stunt in front of a huge audience while representing India in making a world record. The film captures both the dilemma &amp; the determination of Hrithik Roshan as he evaluates the choice in front of him. Hrithik takes a ‘himmat ka ghoonth’ (sip of Mountain Dew), a resolute look crosses his face as he plunges off from the edge of Burj Khalifa on his bike defying all odds.<br /><br />Speeding down from his bike from Burj Khalifa on a slim runway, Hrithik leaves the audience on-ground gasping with disbelief and fear as he falters and skids mid-way. However, with an unwavering spirit, Hrithik successfully makes his way to the end of the runway and emerges as a winner as audience applaud him for this jaw-dropping action.<br /><br />Speaking about his experience of shooting the TVC, brand ambassador Hrithik Roshan said, “Mountain Dew’s philosophy of “Darr Ke Aage Jeet Hai” is in line with my belief that no matter who you are or where you are from, it is an individual’s courage in the face of fear that makes him/her a real hero. It was a thrilling experience to shoot this TVC on Burj Khalifa and I am confident that this adventurous film will resonate strongly with my viewers. With this campaign, we are striving to reach new heights – quite literally and hope to inspire the youth to uphold their confidence and face their fears head on.”<br /><br /><keyword id="193324" type="General" weightage="20" keywordseo="vineet-sharma" source="Orion">Vineet Sharma</keyword>, Category Director- Mountain Dew &amp; Sting, PepsiCo India said, “Mountain Dew has always saluted the spirit of risk taking and pushing boundaries to achieve success beyond fear &amp; self-doubt. This year, the brand reiterates that real heroes are those who face challenges head-on and emerge as winners. We are confident that the ‘Darr Se Daroge Toh Kuch Bada Kaise Karoge’ narrative in our new campaign will strike a chord with the consumers and the action-packed sequence featuring Hrithik on top of the world’s tallest building – Burj Khalifa will reinstate our ‘Darr Ke Aage Jeet Hai’ philosophy.”<br /><br />The Mountain Dew TVC will be amplified across TV, digital, outdoor, and social media with a 360-degree campaign. Mountain Dew is available in single/multi serve packs across modern and traditional retail outlets as well as on leading e-commerce platforms.<br />

When Mountain Dew's latest Darr Ke Aage Jeet Hai campaign made Hrithik Roshan speed down Burj Khalifa on a bike

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Shutterstock</span></p><p class="caption">The Dubai Mall as seen from the top of the Burj Khalifa, the world's tallest building, which is part of the complex.</p></div><p></p></div></div></p><ul class="summary-list"><li><a href="https://www.businessinsider.com/category/dubai">Dubai</a> has <a href="https://www.businessinsider.com/dubai-mall-worlds-second-largest-mall-2018-11">65 malls</a> in a city of just over 3 million people, with 10 more under construction, including Dubai Square, a megamall set to be the biggest in the world when it is finished.</li><li>Despite the number of shopping destinations, Dubai residents I spoke to explained that the number of malls is not because the population is so shopping-obsessed, but because the city is unbearably hot for much of the year.</li><li>Because malls are large, open, climate-controlled spaces, they act as de-facto community centers and public squares where Dubai residents can gather, enjoy entertainment, or experience social events.</li></ul><p>If you are the type of person who likes to explore a country's "authentic" culture, traveling to Dubai can be a bit dizzying.</p><p>Everywhere you turn, there is another mall or shopping center. There's the Mall of the Emirates, with its icy indoor ski slopes, the faux-Venetian Mercato Mall, and the ornate Ibn Mattuta Mall, modeled after the travels of the famous Moroccan Berber explorer, to name a few.</p><p><span>In total, Dubai has about 65 malls in a city of just over 3 million people, with 10 more on the way. One of those currently being built is Dubai Square, <a href="https://edition.cnn.com/travel/article/dubai-square-mall-dubai-creek/index.html">set to become the world's largest mall</a> when it's completed.</span></p><p>Which all begs the question: why?</p><p>As if reading my mind as we walked through Deira, the oldest neighborhood in Dubai, Nada Badran, a Jordanian who has lived in Dubai for most of her life, offered an answer.</p><p>"Everyone thinks we're such shopping addicts. But really there are so many malls because we need spaces that are comfortable to be inside. It's so hot in the summers," Badran, who hosts Wander With Nada on CNN Arabic, told Business Insider.</p><p><em><strong>Related:</strong> <a href="https://www.businessinsider.com/dubai-mall-worlds-second-largest-mall-2018-11">Dubai has a $20 billion megacomplex with the world's 2nd-largest mall, the world's tallest building, an aquarium, and 1,200 stores. I can't imagine why any tourist would want to visit.</a></em></p><p>During Dubai's long summer stretching from mid-April through October, temperatures make it unbearable to be outside for more than a few minutes. Temperatures <a href="https://services.dubaiairports.ae/dubaimet/MET/Climate.aspx">are regularly around 105 degrees Fahrenheit</a> (41 degrees Celsius) and have gone as high as 119 degrees Fahrenheit (48 degrees Celsius), with plenty of humidity. </p><p>Malls offer an escape. </p><p><span>"The malls in Dubai play a role more than just a shopping center. The malls are like community centers where entertainment and social events happen," Ali Shamsi, a financial trader an entrepreneur based in Dubai, wrote <a href="https://www.quora.com/Why-is-Dubai-full-of-malls">on Quora</a> in March. "</span><span>Besides, it's too hot to do activities outdoors in summer."</span></p><p>While most of Dubai's malls have shops that would be familiar to any American or European traveler - everything from Bloomingdales to Adidas to Gucci - their orientation is more akin to miniature indoor cities than outright shopping centers.</p><p><span>"[T]he mall is a social space, not just a shopping space," </span><span>Justin Thomas, an associate professor of psychology at Zayed University wrote for <a href="https://www.pressreader.com/uae/the-national-news/20140414/282230893675225">The National</a> in 2014. </span></p><p><span>"The mall is where three generations of the same family take an evening stroll; the mall is where the Abu Dhabi Readers (a book club) meet to discuss works of literature."</span></p><p>The most iconic of Dubai's malls is the simply named <a href="https://www.businessinsider.com/dubai-mall-worlds-second-largest-mall-2018-11">Dubai Mall</a>, a St. Peter's Basilica of capitalism: 1,200 stores, hundreds of restaurants, a movie theater, a luxury hotel, <span> an Olympic-size ice-skating rink, a virtual-reality theme park, and an aquarium all stuffed into one <a href="http://www.cnn.com/2014/03/05/world/meast/an-exclusive-peek-inside-largest-mall/index.html">$20 billion</a> megacomplex ranked as the second-largest in the world. </span></p><p><span>The mall is so big it has its own neighborhoods like Fashion Avenue, designed to mimic Manhattan's Fifth Avenue, and "The Village," an open-air "street" with chic clothing boutiques, cafes, and restaurants.</span><span></span></p><p><span><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Dubai Holdings</span></p><p class="caption">A rendering of "The Boulevard" at Dubai Square, currently under construction.</p></div><p></p></div></div></span></p><p><span>The currently under-construction Dubai Square is <a href="https://www.arabianbusiness.com/retail/401410-revealed-dubai-square-project-set-to-dwarf-dubai-mall">set to construct the Middle East's largest Chinatown</a>, a four-lane "boulevard" that mimics a wide city street, a piazza, and an entertainment center for concerts and theater shows.</span></p><p><em><strong>Related:</strong> <a href="https://www.businessinsider.com/emirates-airline-airbus-a380-economy-class-review-new-york-dubai-2018-11">I flew 13 hours nonstop on the world's biggest passenger plane, the $446 million Airbus superjumbo jet, and it's about as good as economy can get</a></em></p><p><span>The heat is not the only story behind Dubai's malls. The city <a href="https://www.thenational.ae/uae/dubai-plans-to-be-world-s-most-popular-tourist-destination-by-2025-1.776970">aims to be the most popular tourist destination</a> in the world by 2025, as it seeks to develop an economy not reliant on oil. It is currently the fourth most-visited city in the world, with <a href="https://www.businessinsider.com/most-visited-cities-in-the-world-2018-9">a projected 16.7 million visitors</a> this year, <a href="https://newsroom.mastercard.com/press-releases/big-cities-big-business-bangkok-london-and-paris-lead-the-way-in-mastercards-2018-global-destination-cities-index/">according to Mastercard's Global Destination Cities Index</a>. </span></p><p><span style="color: #000000;">Of the 15.8 million people who visited Dubai last year, 2.1 million came from India. </span><span style="color: #000000;">And Dubai's fastest-growing tourist market is China, with 764,000 visitors last year.  </span><span style="color: #000000;">The number of Chinese visitors <a href="https://www.arabianbusiness.com/travel-hospitality/401047-chinese-tourists-to-dubai-more-than-double-since-2014">could top 1 million this year</a>. Russian tourists is another growth market for the country.</span></p><p><span style="color: #000000;">What all those cultures have in common  - in addition to many Middle Eastern cultures - is that shopping is viewed as a leisure activity. For many without easy access to luxury goods, traveling halfway across the world to visit a mall or luxury stores <em>is</em> the attraction. Dubai is positioned to capitalize on that.</span></p><p>Emaar Malls, The Dubai Mall's developer, said recently that the property had seen<span> </span><a href="http://www.tellerreport.com/life/--dubai-mall-welcomes-more-than-80-million-visitors-annually-.SJ1w0k637.html">over 80 million visitors annually for the past four years</a>, making it the most-visited mall in the world.</p>     <div class="margin-top">        <h3>NOW WATCH: <a href="https://www.businessinsider.com/smart-palm-tree-charge-phone-free-wi-fi-public-dubai-2017-10">These smart palm trees in Dubai can charge your phone and provide free Wi-Fi</a></h3>        <div>                    </div>    </div>

Dubai has more than 65 malls in a city of 3 million people, and it's not because they're obsessed with shopping

<br />
 The great Indian urban <a href="http://www.businessinsider.in/Commercial-real-estate-rises/articleshow/51895047.cms">real estate</a> boom is screeching to a halt with the home-sales market gradually reaching a dead end day by day. With home buyers’ hard earned money at stake, the builders are often delaying the projects citing capital issue. The Indian courts have fortunately passed its verdict on interest of the <a href="http://www.businessinsider.in/Commercial-real-estate-rises/articleshow/51895047.cms">home buyers</a> and in many cases have asked the builders to refund the money with interest to the customers. While that’s a great victory for common people, the <keyword id="6354553" type="COMPANY" weightage="20" keywordseo="real-estate">real estate</keyword> giants aren’t really comfortable with the verdict as they can’t make ends meet to raise the money and return when many projects are under construction.<br />
<br />
The slowdown of home sales have made a few builders convince the courts that rather than refunding money they would better complete the pending projects.<br />
<br />
According to a news report in The Economic Times, the counsel for Parsvnath had told the <a href="http://www.businessinsider.in/Commercial-real-estate-rises/articleshow/51895047.cms">Supreme Court</a> that the order passed by NCDRC asking it to refund entire amount paid by 70 home buyers in its <a href="http://www.businessinsider.in/Commercial-real-estate-rises/articleshow/51895047.cms">Ghaziabad</a> project with 12% interest would "amount to a mad rush and everybody will come to get the money back."<br />
<br />
Parsvnath has agreed to complete the project instead and hand over apartments to buyers. While earlier the builders have turned a deaf ear to customers’ demands of completing work on time, the courts’ pressure has finally forced the goading builders to act instantly.<br />
<br /> A spokesperson for <keyword id="6361138" type="CITY" weightage="20" keywordseo="Unitech">Unitech</keyword> told the ET that the challenges that the company has been facing include working capital, lack of some infrastructure in the areas as well as outstanding amount from customer.<br />
<br />
In a plan to expedite construction at various sites, Unitech has also started to work in tandem with Resident Welfare Associations (RWAs). It has been a collaborative effort with the support of the government as well. Government has assisted by the way of speedy clearances on pending issues. The RWAs have helped by persuading other home buyers to pay the outstanding dues," a spokesperson for Unitech told the financial daily.<br />
<br />
"We have also persuaded some of financial institutions to give us last mile funding to be able to expedite the progress," says the Unitech spokesperson in discussion with the ET. "In our case, in the pending projects to be delivered, the value of the receivables is in excess of balance construction cost to be incurred."<br />
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How will Unitech get the money? The real estate giant has decided to raise around '300 crore from financial institutions as well as by selling land for initial working capital to complete over 40 housing projects in the next two years. The rest of the money will come from customer receivables.<br />
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A spokeswoman for Parsvnath, on the other hand, told the ET, they realise that once construction activity restarts, the large outstanding yet to be received from home buyers will start flowing into the Exotica project in Ghaziabad.<br />
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Parsvanath believes that the pending work in most under-construction towers in the project will be handed over for possession within a year and some more months.<br />
<br />
A spokesperson of Emaar MGF told the ET that the company's projects have now been fast tracked for completion and the schedules are being shared transparently with customers. "Post initiation of reorganisation process for demerger, all necessary financial and operational/management resources have been made available to complete the projects at the earliest," he said.<br />
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Bankers and lenders say it isn't easy for builders to restart stalled projects as it requires re-mobilisation of funds as well as labour and materials.<br />
<br />
<strong>Where lies the solution?</strong><br />
The easiest viable option for the builders is to loan money and invest in the under-construction projects and quickly get things in place.<br />
Rajnish Kumar, managing director, national banking at <a href="http://www.businessinsider.in/Commercial-real-estate-rises/articleshow/51895047.cms">State Bank of India</a> said to the ET that the existing project can also be sold to some other builder willing and able to complete the project. "But, this may mean some price escalation and the process may be complex. It will also require some sacrifices on the part of all the stakeholders.”<br />
<br />
Vaibhav Gaggar, partner at law firm <a href="http://www.businessinsider.in/Commercial-real-estate-rises/articleshow/51895047.cms">Gaggar &amp; Associates </a>told ET that in most cases courts take up on behalf of home buyers, (and) without exception, send a notice to the builder asking him to sit across the table and find an amicable solution so that homebuyers are not forced into litigation. "Most home buyers are willing to give money they owe to the builders if they see fair dealing," he added.<br />
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However in most cases builders don’t follow that. In such cases, Gaggar says, they have suggested setting up an escrow where both parties can be signatories. "Here there is a possibility of bringing in a lender/investor to bridge the funding gap along with an independent monitoring committee to reinstate transparency and confidence in the process," Gaggar told ET.

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Dramatic photos show how radically Dubai has changed in 50 years

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When Mountain Dew's latest Darr Ke Aage Jeet Hai campaign made Hrithik Roshan speed down Burj Khalifa on a bike

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