With their mammoth contribution of Dh 51.8 billion to the properties of Dubai in the past three years, it’s no wonder that the Indians have become the most significant foreign buyers residing in the emirate.
It is to be noted that India takes keen interest in the properties of Dubai because of their smart pricing tactics and rental returns, which are far loftier than what the Indians would find in their native home.
Kotak Wealth Management and CRISIL Research identified that most property buyers from India preferred the Burj Khalifa district, to any other global destinations. The site also reported that the Reserve Bank of India permitted Indians to buy properties abroad, hold shares and buy gifts up to a threshold of Dh 917,500 ($ 250,000) for one person per year. Nevertheless, the capital gains tax exclusion was removed.
Seeing this enormous interest of India, now, firms such as Kleindeienst Group, Falcon City of Wonders, Select Group, Tebyan, Nakheel, Dubai Properties, Meydan Sobha, Jumeirah Golf Estates, Emaar Properties and Damac Properties. Dubai Sports City and many others are uniting through the Dubai Land Development proposal to stage their portfolios and investment options.
In an attempt to bring the investment opportunities in Dubai into the spotlight, and open doors for the Indian investors to connect with the important organizations in the region, Sumansa Exhibitions has organized a type of fair at the Bombay Exhibition Centre in the country’s populous city Mumbai, where 35 property engineers and about 500 visitors are expected. This exhibition is scheduled for November 6th to 8th. Sultan Al Suwaidi, a partner at Sumansa Exhibitions notes that India is a demographically and economically strong nation that fuels many jobs in the middle-income group, not just in their region, but also globally. He further adds that the 14000 multi-millionaires of India, who seek rewarding investment deals, are always highly engrossed in the variety of options that the emirate has to offer.
So, the growing demand of Indians for gratifying investment prospects and the variety of property deals that Dubai has to offer, the collaboration of the two nations makes for a symbiotic relationship.