Investments in real estate in Dubai by Indians are on the increase especially in the medium-range properties, high-end properties and fancy housing properties. The Indians have relegated Russians to the second position in this regard. In the first two months of the current year, cumulative Indian investments in Dubai real estate exceeded that of the investments of the Russians.
It is estimated that the investments by Indians in Dubai are all set to cross $ 4.2 billion. This is regarded very high compared to the investments made last year. The Indian investors constitute businessmen and high-net worth individuals, traditional investors and real estate developers. According to Dubai real estate investment consultancy Foremen Fiefdom CEO Adil Aktar noted new trends in investments by Indians in Dubai as such young investors are flooding the market. It is attributed to cosmopolitan culture and multi-culture environment of Dubai. They all look for a city that offers high standards of living and the city that offers them different opportunities. Low taxes, business friendly policies are attracting Indian industrialists and investors.
After introducing 10-year Golden Visa by Dubai last year, several Indian professionals are coming to Dubai to live here permanently. The local government provided the opportunity to give those who purchase property worth more than 20-lakh Dirhams to grant the investors a 10-year UAE Residency Visa. Luxury projects, ready to move-in and off plan properties are attracting Indian investors. New investors are choosing properties worth 1.5 million Dirhams to 5 million Dirhams, he said. Indian investors’ choice of destination would be Dubai Marina, Downtown Dubai, Pam Jumeira and other residential and commercial places. Indians entered into 4,000 real estate transactions worth more than $ 1.96 billion in the first six months.
