Dubai property show to have large Indian participation
Dubai: International Property Show (IPS) beginning here this week will have a large Indian participation under the umbrella of the National Real Estate Development Council (NAREDCO), a leading real estate body in India.
The three-day event, starting on April 8, will see India reinforce 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, organisers of the show said.
India tops the number of foreign investors and investment transactions in Dubai's real estate market, according to a statement released here.
Quoting figures from the Dubai Land Department (DLD), it said that more than 8,092 investors from India invested in Dubai real estate during 2013, surpassing all foreigner investors in the Emirate's property sector.
NAREDCO, a leading real estate body which works under the aegis of Ministry of Housing & Urban Poverty Alleviation (MHUPA) in India, has announced that the Indian pavilion will include properties from developers in Mumbai, Delhi, Bangalore, Goa, Noida and Gurgaon.
"Indian investors are very active in Dubai property sector. Investing nearly USD 4.9 billion in Dubai reflects the huge interest from Indian investors in the Dubai market and their confidence in the lucrative returns.
"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," said Sultan Butti Bin Mejren, Director General of the Dubai Land Department.
Pointing out that 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, President NAREDCO Sunil Mantri said investment in properties in India would be a lucrative Investment option at a time when the GDP has improved and inflation has moderated.
"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 said.
International Property Show was first organised in 2001, and has since grown to become Middle East's foremost property marketplace to meet and to do business with top-tier investors and property professionals from across the globe.