Dubai real-estate market is poised to scale further heights in the coming years on the back of economic prosperity, investor optimism and positive sentiments. The Indian investment in Dubai real estate has been over 1.1 lakh crore in the last 3 years and the Dubai Land Developments focus on tourism, Logistic and Retail, the Indian investment in Dubai real estate will continue to see an upward movement in the coming years too.
Speaking with NewsBarons, Majid Saqr Al Marri, Senior Director, Real Estate Investment Management and Promotion Center, Dubai Land Department stated “Indians have been the largest non-GCC property buyers in Dubai”.
NB:How has been the response from India investors investing in Dubai?
Majid Saqr Al Marri: Indians have for long been the largest non-GCC property buyers in Dubai. In the last 18 months, between January 2016 to June 2017, Indian investors have made 10,628 transactions worth over INR 36,040 crore in Dubai real estate.
Last year alone, Dubai Property Show in Mumbai generated enquiries worth INR 2,136 crore.
For other investors, property in Dubai doubles as an investment and a vacation home, given the plethora of entertainment avenues it houses.
NB:How much have Indians invested for the last 3 years in Dubai?
Majid Saqr Al Marri: Indians have invested Rs. 1.1 lakh crores in last 3 years into Dubai realty. We expect a strong growth of Indian investments in Dubai realty in the coming years too.
NB:Which are the major factors that influence Indians to invest in Dubai?
Majid Saqr Al Marri:The key is now in the vast potential that Dubai offers to Indians to prosper and grow.
For businesses, the city is the Gateway to West, providing a tremendous opportunity to invest and expand across the regions while linking up with the rest of the world.
NB:What are the returns investors get for the projects?
Majid Saqr Al Marri: The Apartment rental returns in the city offer yields in the range of 7-12% depending upon the projects.
NB:What are the other areas that Dubai Land Department is focusing on?
Majid Saqr Al Marri: Apart from real estate,Dubai Land Department is focusing on Tourism, logistics and retail sector. Dubai is an easily accessible destination for frequent travellers for both business and recreational purposes.
NB:What is the interest rate charge for buyers?
Majid Saqr Al Marri: Banks are offering between 50-60% finance for the property deals with interest rate as low as 3.99%.