Charm of Dubai: Indians ranked as top investors in Dubai Real Estate Market?
When Bollywood Baadshah Shah Rukh Khan endorses a brand, it has to be royal and international. The actor recently set off to Dubai and endorsed the new real-estate project 'The Royal Estate' in Madinet, Jumeirah, Dubai. Jumeirah consists of low rise residential homes, and is divided into three neighbourhoods; Jumeiran 1, 2 and 3. While renowned Interior Designer and architect Toni Ashai will design the project; Shah Rukh's better half Gauri Khan will handle the home décor for this plush 2.3 million square feet project in Dubai Investments Park.
Property Developers such as PAL Developments, Aristocratic Star and Pacific Ventures have collaborated together to launch this project, which consists of 2000 housing units and includes villas, apartments, boutique retail space, office space and luxury hotel.
Photo Credit: Royal Estates
Dubai has always been glamourous and is known for its luxury lifestyle. The city has emerged as an investment hotspot for celebrities. It's not just Shah Rukh Khan who is creating the entire buzz, but as per the Dubai Land Development Reports, Indians have emerged as the top investors in Dubai Realty market. Indian nationals invested around Rs 132 billion in the first quarter of 2013. Reportedly, Indians, British and Pakistanis are the top 3 foreign investors in Dubai, with a combined share of DH 20.83 billion in the first half of the year. The slow moving property prices, infrastructural developments and luxury facilities available in Dubai make it a profitable investment market.
One of the biggest Indian owned businesses in the Gulf, R.P Group is also planning to launch two real estate projects in Dubai. The $ 3 billion projects will be located at Downtown and Business Bay. The group aims at offering residences, serviced apartments and dedicated retail outlets. Apart from these the group also plans to launch a 4 star hotel in Burj Dubai, which is set to be operated by Crowne Plaza and managed by ITC Group.
Sobha developers, an Oman based Indian real estate company, along with Meydan, a Dubai developer, have also launched District One in the Mohammed Bin Rashid City, a luxury real estate project near Burj Khalifa in Dubai. It is set to convert 45 million sq. ft. of land into an integrated township consisting of green area, inland lagoons, and premium villas.
Photo Credit: MX Webman/pixabay
Not just Indian real estate developers, but developers from across the world are making the most of the real estate boom in Dubai. A number of Britsh, Gulf and Pakistani investors have also launched mixed use projects in Dubai. Large real estate groups like Nakheel and Emaar have also launched a string of new projects to make the most from the stable real estate market in Dubai.
Not just in Dubai, but Indians settled in Dubai are among the top investors in real estate in India. Property shows happening in Dubai have also seen huge participation from reputed Indian real estate developers.
Currently, Dubai is among the leading choices for people who wish to invest in Foreign Real Estate. Share your views, if you too want to invest in Property in Dubai?