Dubai and London properties to attract Indians in 2017
Bottom Line: Track2Realty estimates that wealthy Indians would be attracted…
Bottom Line: Track2Realty estimates that wealthy Indians would be attracted…
Dubai property market has been centre of attraction for the investors from across the world. Indians, of course, have been a significant contributors and Dubai rates India as the second largest investor country after the UK. Sultan Ebrahim Alakraf, Senior Director of Land Department, Government of Dubai, shares with Ravi Sinha how Dubai has been consciously trying to create its own brand differentiator with ease of doing business and easy exit to the investors. Excerpts of an exclusive interview:
Track2Realty-Agencies: Indian expatriates are among the top investors in Dubai’s property market, which is expected to grow 10-12 percent this year, company officials and analysts say.
Indians are the biggest property buyers in Dubai among foreign nationals, as per the figure released by the Dubai Land Department (DLD) for the first half of 2011.
Global financial meltdown and the NRIs fear psychosis with the collapse of financial institutions seems to have by default been the catalyst to the realty boom in Punjab.
Dubai International Financial Centre (DIFC) and Absalon Project, a joint venture between affiliates of VP Securities and Soros Fund Management, have launched a feasibility study for a mortgage system in the UAE, based on the principles of the Danish Mortgage Model.
In a major reshuffle, Dubai-based real estate developer Emaar Properties on Monday recommended a new board increasing the strength of members to 11 from the present eight.
The Indian housing market is a vicious cycle of broken promises, trust deficit, sulking participants and non-delivery. Statistics only tell you half the story. For the developers, market trackers and the government agencies it is all about numbers – how many units have not been delivered. What these raw statistics don’t tell you that there is a sordid saga of drying emotions of one family with each housing unit. Probably the stakeholders are least bothered about the plight of an average middle class home buyer who has exhausted his lifetime savings, taken up home loan and now reeling under the burden of both the EMI and the rent.
The International Real Estate and Investment Show (IREIS, a B2C sales and networking platform where spot sales are permitted, the 10th edition is bringing leading local and foreign real estate developers under one roof will reflect the attractiveness of UAE‟s real estate sector and will attract investors from various parts of the world.
Meet Ravi Menon, Chairman of Sobha Ltd and son of PNC Menon whose legacy gives the son liberty to rest in his cabin and enjoy the laurels that the company has earned. But it seems there is something professional in the DNA of this family. Hence, the colleagues respect Ravi as first co-worker in the office whose personal involvement and eye for detailing is what has helped brand Sobha to get to the next level of brand reputation.