Indian real estate firm Indiabulls Real Estate Ltd. targets UAE NRIs. The firm expects to have more Non- Resident Indians (NRIs) as their clients.
Indian real estate firm Indiabulls Real Estate Ltd. targeting UAE NRIs, have launched an overseas office in the UAE. The real estate firm is about to launch its first overseas office in the United Arab Emirates region.
The real estate firm has so far constructed approximately 3.3 million sq. ft. of area. The estimated cost falls around $1.75bn. The real estate developers have grown tremendously in the past four years.
The company officials hailed their plan to launch an overseas office as an attempt to help the UAE NRIs. The company officials disclosed that through overseas –offices the firm can help the NRIs buy suitable properties in India.
Recent reports show that UAE NRIs Investment is increasing. The real estate firm also has plans to run offices in other Gulf Cooperation Countries-(GCC).
Indiabulls Ltd has many real estate projects across India. Townships and residential projects, commercial centers and shopping malls, etc. are undertaken by the company. The company is also engaged in developing hotels and infrastructure.
A majority of their projects are located in nearby New Delhi and Mumbai. Other NCR and MMR regions also boast of Indiabulls’ project. The firm has projects in Chennai, South Indian metropolitan city too.
Mr. Santosh Tandel (MENA regional head, Indiabulls) revealed that majority of their clientele is formed by NRIs. NRIs especially those in UAE, purchase nearly 25-30 %.
Reports prove that UAE NRIs are more inclined to real estate investment. Properties in India are safer methods of investment for them. Their concern for motherland also plays vital role in determining their taste for investment.
Attractively a half of the UAE population is formed by the Indian population residing there. The real estate firm Indiabulls is hopeful of gaining more business from the UAE NRIs. Beginning of an overseas is only a beginning point for them.
Moreover the real estate firm tries to provide Qatar Doha Bank’s loans to the NRIs who have deposits there. What else one real estate firm should do?
