Indiabulls seals Doha Bank partnership
Doha, March 19, 2013
Indiabulls Real Estate, one of the largest listed real estate developers in India, has tied up with top Qatari lender Doha Bank to offer its non-resident Indian (NRI) customers an exclusive deal on properties in India.
Complimentary home loan eligibility checks, special offers on Indiabulls properties and exclusive promotion for Doha Bank Indian customers will be part of the special offer.
Indiabulls’ deal with Doha Bank also offers mortgage loans to its NRI customers for acquiring properties in India, serving the growing demand from expatriate Indians for home loans and property acquisition in Indiabulls’ housing projects.
"We feel proud and delighted to have partnered with an institution such as Doha Bank; the alliance marks an important milestone in Indiabulls quest for a regional footprint," said Santosh Tandel, the regional head of Mena region, Indiabulls.
Following the successful launch of its office in Dubai last year, Indiabulls plans to open more units in other GCC countries including Qatar.
"We aim to connect more and provide seamless service through the arrangement," added Tandel.
“Gulf NRIs have always contributed significantly to the Indian economy whether through remittances or investments in properties. Overall NRIs make up for 25 per cent of our business plus NRIs in GCC countries including Qatar are constantly looking for appropriate property investment opportunities both for end use as well as investment purpose," the official said.
"With an approximate 20 per cent of the Qatar’s population comprising Indians, the need to have a local representation catering to this segment was vital,” remarked Tandel.
According to him, the Indian real estate market, which is expected to reach $90 billion by 2015, is undergoing a shift.
"The fall of the rupee is encouraging more investment by Gulf-based NRIs into the realty market which offers relatively higher returns. Properties continue to be a preferred choice for expat Indians for investment and asset creation," explained Tandel.
"What they look for is a good brand to invest and a price point which is good to enter. For the NRIs, what matters most is the reputed developer with good track record, quality and possible price appreciation. We offer a range of investment options right from Rs4 million to Rs400 million and response is overwhelming," he added.-TradeArabia News Service