Emaar Properties says it is committed to projects in India through its joint venture Emaar MGF Land, following a report suggesting it was close to ending an agreement with its local partner.

The Dubai developer said in a statement to the Dubai Financial Market that India remains a “key market”.

India’s Economic Times (ET) earlier quoted unnamed sources saying Emaar Properties was looking to cut its decade-old alliance with MGF Developments.

“We would like to clarify that India is a key market for Emaar and we are committed to the success of our projects in India through our company, Emaar MGF Land Ltd,” Emaar said in a statement to the Dubai bourse.

“As part of streamlining our growth strategy, we conduct regular reviews of the ongoing operations of the company,” it added, saying it was considering a number of options to ensure that its growth objectives were met, and would disclose further information if and when it was finalised.

Emaar entered India in 2005 through a joint venture with MGF Development at the peak of the real estate market in the country.