December 26, 2006

India property exhibition explores new destinations in the Gulf

The Confederation of Real Estate Developers Association of India (CREDAI) and Maharashtra Chamber of Housing Industry (MCHI) have organised an exhibition on Indian property in Dubai at the Dubai Renaissance Hotel from December 7-9, 2006. India Property - 2006 Gulf aims at providing accurate information to NRIs on real estate investment options back home in India. Leading developers from places, like Mumbai, Navi Mumbai, Pune, Delhi, Bangalore, Kolkata, Gurgaon, Goa are participating. There are an estimated 1.5 million Indians residing in the Gulf countries of Oman, Bahrain and UAE with a sizeable NRI population consisting of professionals such as doctors, engineers, bankers, finance experts, managers. Many hold middle or senior management positions in the corporate sector. Today, NRI’s in the Gulf have a high per capita income but with limited investment options. Indian Real Estate is one sector that offers high potential. Mr. J.S. Augustine Co-Chairman, International Exhibitions said, “The entire Gulf region is waiting to be tapped. Now we have begun with Oman and Bahrain and will soon be looking at Saudi Arabia, to provide a platform for NRIs to make their choice of a home back in India”. Augustine adds, “The basic idea of staying far away from India to earn is to provide a good house and a contemporary lifestyle to their families. We are providing NRIs an opportunity to realize their aspirations.” Sharing his views on India Property 2006, Gulf, Mr. Nainesh Shah, Chairman, International Exhibitions, MCHI, said, “Indians in the Gulf have a high per capita income and a strong propensity towards saving and investments. But opportunities for Investments in Gulf real estate are constrained. Hence NRI’s find it safer to invest in real estate back home. India has a high GDP growth rate, making it one of the best investment destinations in the world.” “Indians living in the Gulf generally have a dream of buying a property back home and are looked upon and respected for their hard working nature and sense of enterprise. This properly exhibition gives them the perfect platform of fulfilling their dreams as well as making a sound investment decision” added Mr. Shah. Adding further Mr. Zubin Mehta, CEO, MCHI, said, “The real estate sector in India is booming which has a direct impact on the infrastructural development of the country. Investments in real estate has dual benefits for the investor as his investments appreciate over a period of time, giving him the best returns possible, and also helps in the overall development of the country. //Source: