(MENAFNEditorial)
Driven by increasing interest, more and more developers are planting firm feet in key Indian cities
- Dubai Property Show in Mumbai generated AED 1.2 billion of enquiries in 2016
- Indian investors made 10,628 transactions worth more than AED 20.4 billion in Dubai property between January 2016 and the end of June 2017
- The popular real-estate exhibition will be held from 3rd to 5th November at Bandra Kurla Complex Mumbai
October 28, 2017 - Dubai, UAE: Dubai Land Department is heading back to the Indian financial capital with the third edition of its flagship event, the Dubai Property Show. Riding high on an extremely encouraging response from two successive shows, supported by world-class Dubai developers, the property exhibition will be held from 3rd to 5th November at Bandra Kurla Complex, Mumbai. Over the years, the exhibition has become a popular event for Indian investors to touch base with Dubai real-estate offering a complete package related to property purchase in the emirate. The exhibition features a diverse range of properties from residential and commercial to land, redefining the concept of luxury, class and comfort.
Indians have long since been the largest non-GCC property buyers in Dubai, a sentiment reflected in the shows held in Mumbai. Last year alone, Dubai Property Show in Mumbai generated AED 1.2 billion enquiries.
H.E. Sultan Butti bin Mejren, Director General of the Dubai Land Department (DLD) said: 'The Dubai Property Show takes the Emirate's finest real estate developers directly to the doorstep of serious buyers. The platform seamlessly brings in the right visitors while we provide developers the opportunity to create business which they had been missing. Indians have long since understood the worth of Dubai real-estate as an investment haven as it gives them a very lucrative value for the money.
'Indians consider Dubai as their second home, and for a good reason. In terms of population, they form the highest expat nationality in the emirate, significantly contributing to the UAE's economic growth with presence across all walks of life, added Mr Asanga Silva, Deputy General Manager, Dubai Property Show, 'Tourism-wise, Indian tourists are now the largest source market for Dubai, driven by the fact that many Indians have relatives and friends living in the emirate. Given the strong ties, it is only natural that when it comes to investing their money overseas, Indians consider Dubai as a practical option.
As per the DLD, between January 2016 and the end of June 2017, Indian investors made 10,628 transactions worth more than AED 20.4 billion in Dubai property. Among the many features that have attracted Indians in large numbers is the fact that Dubai gives a much higher return for investment as compared to India. Coupled with a transparent, hassle-free procedure, financial backing, luxury at an affordable price, high production quality, higher rental yields, proximity to India, increasing connectivity across the world and the Indian rupee strengthening against dollar, Dubai's real-estate has become the first choice of investment for many Indians.
Mr Silva added: 'For exhibitors, the Indian population provides the right mix of buyers, ranging from multi-millionaires to young people who dream big and have their eyes set on Dubai shores. In the past few years, Dubai developers have shown increasing interest in Indian investors, opening offices in key Indian cities and conducting road shows and exhibitions. Noticing the interest surge among Indian buyers, a number of Dubai developers are making way to the South Asian country.
Exhibitors participating in the third edition of Dubai Property Show in Mumbai include Falcon City of Wonders, Dubai Properties, Dubai Investments, Meydan Sobha as Platinum Sponsors for the Show MAG Property Development as the Gold Sponsor, Tebyan Real Estate Development LLC as the Silver Sponsor, Nakheel PJSC, Azizi Developments, Kleindienst Group, Creative Zone, Dubai Sports City, Bloom Properties, Tiger Properties, Seven Tides are the other participating companies while Mashreq Bank joins as the Official Banking Partner and Seal Real Estate Registration Agent LLC as the Official Property Transfer Trustee among others.
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