Dubai realty major Deyaar forays into India, joins hands with Square Yards to market projects
The company is conducting an exclusive property showcase event in Mumbai on May 7-8, 2016 at Hotel Four Seasons, Worli, Mumbai
New Delhi: India has suddenly become the focus market for major Dubai based real estate developers.
Just after Jumeirah Golf Estates entered India, another Dubai-based real estate major Deyaar Development PJSC has joined hands with real estate aggregator Square Yards to market its properties in India.
The company is conducting an exclusive property showcase event in Mumbai on May 7-8, 2016 at Hotel Four Seasons, Worli, Mumbai.
The properties on offer would be pre-leased properties at Ruby Residencies located in Dubai Silicon Oasis and off-plan properties at Midtown – a signature township located in the International Media Production Zone (IMPZ) sprawling over 5 million square feet of development. The price of the properties will start from Rs 81 lakh onwards.
Nasser Amer, VP – Sales at Deyaar, said, “We will be offering best in the class luxury to Indian investors at prices that will work out to be lower than Mumbai when you calculate the total cost of ownership.”
“Its (Deyaar) products are expected to find chord with Indian customers, who are increasingly looking at international destinations for better returns on investments and high yields,” said Kanika Gupta Shori, COO, Square Yards.
Jumeirah Golf Estates had also recently showcased three of its properties in India in association with Dubai based brokerage firm SPF Realty. It forayed into the Indian market during the Dubai Property Show held in Mumbai last November.
Emaar, another major Dubai-based real estate player, has been in India since 2006, in association with its Indian partner MGF Developments Ltd. However, the company has recently announced the end of the joint venture.
Indians have emerged as the largest group of investors in the Dubai property market, with an investment of over Rs 30,000 crore during 2015 itself.
Close proximity to India and rationalising property prices have been the major catalysts for rapid investment in Dubai.
The Reserve Bank of India had recently made buying property abroad a lot easier by doubling the foreign exchange remittance limit to Rs $250,000 per individual per year without seeking its permission, from $125,000 earlier, under its liberalised remittance scheme.
Source: ET Realty
Dubai realty major Deyaar forays into India