Embassy Group, led by chairman Jitendra Virwani, plans to infuse extra capital and belongings into Indiabulls Real Estate Limited , of which it holds the largest stake. The merger of Embassy’s residential and industrial projects with IREL, as soon as permitted by the National Company Law Appellate Tribunal, will create the country’s largest real estate developer. “Dubai’s real estate sector has once again proven its resilience, attractiveness and ability to achieve sustainable progress even through the exceptional circumstances being witnessed globally. The results highlighted within the report bode well for the future as the country ushers in another 50 years of financial growth. The real estate sector represents a serious catalyst for the expansion of varied different sectors,” stated Sultan Butti bin Mejren, Director-General of DLD.
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