Sultan Butti Bin Mejren and Dawood Al Shezawi
Indian developers out in force at Dubai show
Dubai, April 8, 2014
International Property Show which opened in Dubai today (April 8) will witness a large Indian participation under the umbrella of the National Real Estate Development Council (Naredco).
A premier body of Indian developers, Naredco works under the aegis of Ministry of Housing & Urban Poverty Alleviation (MHUPA), Government of India.
India is reinforcing its stature not only as one of the leading investors in the Dubai realty market but also as a country that offers diverse realty offerings to investors based in the Middle East, said the organisers of two-day International Property Show being held at the Dubai International Convention and Exhibition Centre.
India, they said, tops the number of foreign investors and investment transactions in Dubai’s real estate market.
Dubai Land Department (DLD) said earlier that more than 8,092 investors from India notched Dh17.93 billion ($4.88 billion) transactions in Dubai real estate during 2013, surpassing all foreigner investors in the emirate’s property sector.
Naredco has announced that the Indian pavilion will boast of some of finest properties from across India from developers in Mumbai, Delhi, Bangalore, Goa, Noida and Gurgaon.
Some of the big names include Raheja Developers, Nahar Group, Mantri Realty, Godrej Properties, Heritage Group, Kalpataru, Patel Realty, Artha Properties, Landmark Group, Paramount Buildwell, Sunteck, Kanakia Spaces, HDFC Home Loans and others.
“Indian investors are very active in Dubai property sector. Investing nearly Dh18 billion in Dubai reflects the huge interest from Indian investors in the Dubai market and their confidence in the lucrative returns,” said Sultan Butti Bin Mejren, the director general of the Dubai Land Department.
“It is obvious that the Gulf region has presented itself as a key investments player in the world. The well developed infrastructure and strategic location of Dubai will drive this sector to greater success,” he remarked.
Dawood Al Shezawi, the CEO of Strategic Marketing & Exhibitions, the organizers of IPS said: "A visit to the Naredco India Realty Pavilion will offer Indian expatriates living in the UAE and the Gulf a unique opportunity to select a place back home at a time the real estate is becoming one of the most lucrative investment options for NRIs."
Naredco president Sunil Mantri said: "For Indians in the Gulf, investing in India is a sentimental decision. As it is driven by a need to remain connected to their roots. The ‘Naredco Indian Pavilion’ would give you an opportunity of owning your own place back in India."
"With definitive pick up in the economy, as the GDP has improved, inflation has moderated, growth in industrial production is seen with other positive triggers, that has driven the stock markets to the current levels, investment in properties in India would be an lucrative Investment option," he added.
Al Shezawi said the India Realty Pavilion at IPS will serve as unique platform for Gulf Indians, HNIs, investors, consultants and home buyers to check out exclusive deals offered by participating developers.-TradeArabia News Service