Indian Developers Woo Dubai Property Buyers

By: George Gonigal

With its vast NRI population, Dubai has become a favorite market for Indian real estate developers. Since, a large number of Indians based in Dubai buy property in India for their family and for investment, a number of property developers have identified them as potential buyer segment, says Sunny Dua, a property dealer who boasts of a wide clientele from Dubai.

Current Trends

Industry sources inform that earlier most of the property buyers from Dubai used to purchase residential plots so that they could build house as per their choice. But now trends are changing with Indian real estate industry maturing with times. The projects undertaken by Indian property developers are no less than the international standards and meet the needs and aspirations of Dubai based property investors, they say.

With the proliferation of western amenities, from air conditioning to consumer electronics to shopping malls, in India the NRI segment have found that the lifestyle they enjoy in countries abroad is now available in India. And given the kind of quality Indian real estate developers are producing, the same applies to the housing and property investment segment, as well.

Market rationale

Most property developers observed that NRI buyers hardly have time to research for properties in India. And that's why property shows organised in Dubai, of late, by premiere real estate portals like that of MagicBricks provides them with a opportunity to fulfill their plans right at their work place.

Participating in these shows enable us to touch the customer base that is perfect for the properties we develop, comments Anil Sharma, Chairman, Amrapali Group. The luxury housing projects that offer properties in the range between Rs 5,000 and Rs 8,000 per sq. ft are launched with Indian premium and NRI segment in mind and Dubai is of course one such single largest market for Indian real estate developers.?
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