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Dubai woos Indian realty buyers

Mumbai - Emirate's top developers showcasing projects at Mumbai exhibition.

The Dubai Property Show, showcasing some of the most iconic real estate projects being developed by leading developers, opened at the Bombay Exhibition Centre on Friday.
Ahmad bin Harib Alfalahi, UAE Commercial and Trade Attaché to India, opened the show in the presence of Sultan Al Akraf, head of real estate registration at the Dubai Land Department, or DLD; leading developers from Dubai including Sobha Group chairman P.N.C. Menon Nakheel chief executive officer Sanjay Manchanda; and senior officials of Sumansa Exhibitions.
Organised by Sumansa Exhibitions in partnership with the DLD, the show has lined up 35 property developers from Dubai. Apart from a wide range of ongoing and futuristic projects showcased, the event also features a series of seminars that focus on educating prospective buyers on the various aspects of investing in Dubai, one of world's most sought-after destinations for property buyers.
Exhibitors include Falconcity of Wonders, Emaar Properties, Al Hamra Real Estate Development, Jumeirah Golf Estates, Tebyan, Select Group, Nakheel, Dubai Properties, Deyaar Development, Meydan Sobha, Damac Properties, Dubai Sports City and Kleindienst Group, which are offering budget and luxury apartments to villas, beach properties to furnished apartments and commercial properties.
The seminars are conducted by property gurus representing top developers including Emaar, Al Hamra and Jumeirah Golf Estates, research firm Knight Frank and the DLD. Others include property consultants, international lawyers and business heads who seek to guide prospective buyers on how to finance investment in the UAE, legalities of investing in Dubai, while giving an overview of Dubai's realty performance in the residential sector and investment opportunities in other emirates.
Sultan Butti bin Mejren, director-general of the DLD, said in a statement that Dubai, with its all-encompassing, flexible nature, offers class and comfort at an affordable price, not to forget excellent quality and a ready infrastructure.
"This will be particularly attractive to the middle-income group, which will no longer have to choose between affordability and luxury. Indians have long understood the value of Dubai real estate - as evident by their growing investment in the emirate - and they realise the long- and short-term financial dividends that they can attain. This is why Indian nationals continue to rule the foreign real estate investment chart. In the first half of 2015 alone, they accounted for a significant 15 per cent share - the highest in Dubai's real estate market by a foreign nationality," he said. Sultan Al Suwaidi, partner at Sumansa Exhibitions, argued Dubai real estate makes a sound investment.
"The economic activity in Dubai has shown healthy figures as evident by the city's diversification across various sectors including finance, logistics, tourism and retail. With Expo 2020 around the corner, the economy is certain to improve further which will have direct affect on rental and resale value of Dubai property," he said.
Al Suwaidi  pointed out that in the past one year, Dubai's tax-free rental yields have averaged seven per cent in the mainstream property segment. Office rents in particular have seen profitable returns.  
Al Harith Almoosa, vice-chairman and deputy general manager of Falconcity of Wonders,  said Dubai's real estate sector gives buyers true value for what they purchase.
"In London, a 21sqm unit would cost $1 million, according to a Knight Frank report. However, in Dubai, you can buy approximately 145sqm unit with the same amount of money with no compromise on quality. Moreover, Dubai's quality of life provides outstanding residential localities complete with amenities, high rise malls boasting global brands, upmarket hotels, and an overall great urban living experience," he said.
"Dubai offers political stability and an easy access to global and regional markets, besides boasting one of the lowest crime rates in the world, making the emirate a safe and secure zone. All this is offered at affordable prices, all governed, secured, and registered in the Rera [Real Estate Regulatory Authority] and the DLD to secure your investments," said Almoosa.
- issacjohn@khaleejtimes.com