Indiabulls enters agreement with Doha Bank for NRI deals
Dubai: Indiabulls Real Estate Ltd has tied up with Doha Bank to offer its NRI customers exclusive deals 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.
The agreement 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.
"With the opening of an office in Dubai last year, company's future plans include opening of offices in other GCC countries including Qatar," said Santosh Tandel, Regional Head - MENA Region, Indiabulls.
"We aim to connect more and provide seamless service through the arrangement. Gulf NRIs have always contributed significantly in the Indian economy whether it is remittances or investments in properties," he said.
According to him, overall NRIs make up for 25 percent of its 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.
"With an approximate 20 percent of the Qatar’s population comprising of Indians, the need to have a local representation catering to this segment was vital," he said.
"The Indian real estate market, which is expected to reach USD 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. What they look for is a good brand to invest and a price point which is good to enter. For NRI's reputed developer with good track record, quality and possible price appreciation is an important factor," Tandel said.