The annual realty exhibition begins in Mumbai today
Indians top foreign investors in Dubai Real Estate, investment starts at Rs 80 Lakhs
· Expo 2020 a big growth driver for Dubai economy, experts predicting 35-50% growth in the region.
· Dubai offers tax-free returns and its rental yields in the range of 7-12% are amongst the highest in the world.
Dubai Property show, UAE’s popular realty platform for Indian nationals is back in Mumbai for the 4th consecutive year. The annual exhibition – which generated queries worth INR 3,400 crore (AED 1.8 billion) towards UAE properties last November – is being held from 7th-9thDecember at Bandra Kurla Complex, MMRDA Grounds in Mumbai. The 3-day exhibition was inaugurated by H.E. Mohamed Saleh Ahmed Al Jalah Al Teneiji, Consul General of UAE in Mumbai. Organized by Dubai Land Department, the expo is open to visitors from 11 am 8 pm on all three days.
The property extravaganza boasts of reputed property developers from Dubai under one roof and promises to be a highly informative and valuable experience for Indians who have been the number one property buyers in Dubai for past several years. Entry is free on all the three days of the show which also includes free seminars, exciting promotional offers and financing facilities. Visitors can avail many lucrative deals, whereas the investment starts at Rs 80 lakhs.
H.E. Majida Ali Rashid, CEO of the Real Estate Promotion and Investment Management Sector at Dubai Land Department said: “The DLD has chosen the most important cities in the world to focus on its promotional agenda, considering several factors, most important of which is the record of investors in the Dubai real-estate market. Previous exhibitions have demonstrated the validity of this strategy, as it has been an effective and attractive promotional platform for real-estate investment in Dubai, especially as we contribute towards providing the key players in the sector, and help maintain confidence among all parties by ensuring successful transactions."
Rashid confirmed that according to the statistics issued by DLD’s Department of Real Estate Studies & Research, Indian nationals have consistently been the highest foreign investors in Dubai real estate. This year, 3,696 Indian investors pumped INR 16,700 crores (AED 8.17 billion) into Dubai’s real estate within the first nine months across 4,414 investments, while the Dubai real estate market attracted 38,800 investors with 75,345 investments worth more than INR 287,600 crore (AED 149 billion). With a strategic location, high investment and rental yield, and regulations and legislation that are set in place to protect the rights of all parties, Dubai continues to be an attractive proposition for foreign investors.
Himanshu Gupta, General Manager, Dubai Property Show added: “As the emirate is getting ready for World Expo 2020 – one of the largest international events to take place in the Middle East – industry gurus foresee tremendous opportunities for Indian investors across all sectors of real-estate, particularly in the residential and hospitality segment. Experts predict that there will be a growth of 35-50% in the region as an effect of the expo 2020”.
H.E. Salem Almoosa, Chairman and General Manager, Falconcity of Wonders LLC, said: “Indian buyers have been one of the top 5 investors who see a lot of potential in Dubai’s real estate. In fact, Dubai Land Department’s statistics show that through 1,550 transactions, Indian investments totaled to INR 30,000 crore (AED 15.6 billion) in 2017. This gives a very encouraging boost to us as a developer as we will be showcasing the premium and luxurious 5-star fully serviced hotel apartment at the Mumbai property event. The rapid progression on serviced hotel apartments at Falconcity comes from the idea of accommodating the huge influx of tourists and visitors during the Expo 2020, proving to be a great opportunity for investors.”
Nakheel is looking to expand its number of Indian investors, who have already bought more than 4,500 properties, collectively worth over INR158.6 billion (US2.5 billion), from the developer. Sanjay Manchanda, CEO of Nakheel, said: “Dubai is a magnet for real-estate investment, thanks to its excellent physical and social infrastructure, regulations allowing international investors to buy freely, strict policies that ensure that disputes are settled quickly and fairly, and impressive rental yields of six per cent and above. It’s no wonder Indian investors make up more than 10% of our customer base. We look forward to capturing the attention of new customers wanting to become part of the Dubai real-estate’s success story.”
Mr. PNC Menon – Founder & Chairman, Sobha Realty says, “Dubai has been a hotspot not only for businesses but for all sectors like tourism, real-estate, etc., for the past few years. Dubai is considered a viable international hub because of its consistent and steady economic growth, good infrastructure, city planning and ease of access to the rest of the world. Its inviting and inclusive culture and tolerance for multiple nationalities is welcoming and beneficial for residents and businesses alike. Investors will benefit from Dubai being considered the most sustainable city in the region and a safe haven in terms of real-estate investments. With prime properties developed in Dubai by Sobha, it has earned recognition for great quality as the number one brand in India for the last 4 consecutive years (source: Track2Realty Brand X Report) and one of the top real estate companies in the Arab world (source: Forbes Middle East).
“Dubai offers a range of exciting projects that caters to every need and fancy of the investors. Sobha Hartland, surrounded by 2.4 million square feet of greenery and set along the Dubai Water Canal, enjoys the unique advantage of prime location backed by over 42 years of expertise. With Hartland Greens, Waterfront villas, and Hartland Estates Townhouses, Sobha Realty continues to set a benchmark in offering world-class bespoke living experience.”
Mr. Sunil Gomes, CEO of Gemini Property Developers said: “India is a strategically important investor base for us due to several good reasons. Investors in India regard Dubai-based real-estate options as lucrative and high yielding. In addition to that, Dubai is the most popular tourist destination in the Middle East to live and work. The real-estate market is highly regulated, offers quality lifestyle, safety and is closer to India. All these factors make Gemini properties attractive with high returns”.
The exhibition is showcasing a wide range of properties from lavish apartments to sprawling villas and from sophisticated townhouses to state-of- the-art commercial spaces. Developers participating at the event include prominent names such as Nakheel, Falconcity of Wonders, Sobha Realty, Tiger Properties, Tilal Properties, Gemini Property Developers, Richland Real Estate Brokers among many others.