Realty major Emaar MGF today said it would make an initial investment of Rs 400 crore to develop a 84-acre township at Shillong.

The project --Windermere Estates-- comprising villas, plots, retail space and a hotel, will be launched tomorrow, the company said in a statement.

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Emaar MGF also claimed that with this project, it will become the first national developer to foray into the North-East.

"We have keenly studied the North-East market. Our internal deliberations clearly identified Shillong as the city with tremendous value-proposition and growth for evident reasons; well-travelled populace, changing tastes and a desire to own the best," Emaar MGF CEO (East) Sanjay Choudhary said.

Emaar MGF, a joint venture between MGF Developments and Dubai's Emaar Properties, started operations in India in mid-2005 and is present in all verticals of the real estate.

The company is developing the Commonwealth Games Village in the national capital.

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