Indiabulls to expand operations in GCC
Dubai, June 11, 2013
Indiabulls, a real estate company, will expand into other GCC countries, following the start of international operations in Dubai last year.
The plan includes opening up of representative offices in Saudi Arabia and Bahrain by year end. Alongside, the company has also formalised alliances with banks and financial institutions, to offer home loans to the Indian expatriates in the region, interested in investing in their projects, said a statement.
NRIs are one of the key contributors to the growth of the real estate industry in India.
Santosh Tandel, the regional head for the Mena region, said there has been a growing demand from expatriate Indians for home loans and property acquisition. Indiabulls' alliance with Doha Bank offers mortgage loans to its NRI customers for acquiring properties in India. The company has also concluded similar alliances with banks and financial institutions in UAE, Oman and Kuwait.
“Indiabulls exclusive real estate residential projects range from premium housing that comes with affordable solutions to the most luxurious, upscale and swanky signature residential projects. The projects are equipped with top of the line amenities and are built with superior construction quality standards," he added.
Given the favourable exchange rates in the past couple of days, remittances back to India have again seen an upward trend. This would be a great positive factor for the expatriate community in taking their investment decisions. With rupee being near to an all time low, the customer can expect appreciation on both the currency as well as the real estate transaction in years to come, said the statement. - TradeArabia News Service