The Indian joint venture of Dubai's Emaar Properties said on Tuesday it had tied up with Marriott International to build four hotels in India for a total investment of more than $400 million.

The projects in New Delhi and Amritsar in the north, Hyderabad in southern India and Kolkata in the eastern state of West Bengal are expected to be completed by 2010 and will have a total of 912 rooms, Emaar MGF Land Limited said in a statement.

Emaar MGF will own and develop the properties while Marriott will provide advisory and management services, it said.

A top Emaar MGF official said the company hoped to raise funds through an initial public offering in the next 12 months if the market conditions improve.

"The IPO market may present another opportunity for us to raise funds in the next 9-12 months," Shravan Gupta, executive vice-chairman and managing director, told a news conference.

In February, Emaar MGF had called off a $1.6 billion initial public offering after a stock market tumble sapped investor appetite for equity offerings.-Reuters