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lulu group chairman yousuf ali

Lulu Group Chairman and MD Yusuf Ali

Yusuf Ali, Chairman and MD of Lulu Group expressed happiness over Abu Dhabi hosting the Natcon 2022. He said that there are good relations between UAE and India. He was speaking at the Natcon 2022 conference organised by CREDAI National in Abu Dhabi. Excerpts of his speech..

“We all aware that the relations between India and Arab countries age back to centuries. India and the UAE are peaceful and secular countries. India is growing as an unstoppable economic power. Under the leadership of Prime Minister Narendra Modi, the Indian economy is heading towards 5 trillion dollars. And the Comprehensive Economic Partnership Agreement (CEPA) signed by India with the UAE, is historical. It will further strengthen the ties between the two countries.

People from different countries are living in the UAE very happily without any discrimination. Indians are living a dignified life and earning income. They consider this country as their home away from their home. I would like to thank the leadership of the UAE for extending love and brotherhood for Indians, and supporting them. In this country which respects religious freedom, there are churches, temples and gurudwaras. The largest temple in Central Asia is going to be built on 27 acres, gifted by the UAE President. The temple is on 14 acres and parking is coming up on 13 acres. This reflects the sense of secular atmosphere and social harmony in the UAE.

Indians have always been the top investor in property in the UAE. The country has become a destination for Indian investors over the past few years. Along with the quality of life available here, friendly government policies and security are attracting investors from around the world, especially from India. Further, the Indian real estate sector has been booming for the past few years. Especially the investments of NRIs living in UAE are flooding the market. The role of real estate is very important in enhancing the beauty of the country and cities. Besides, the realty sector also plays a vital role in the growth of the country’s economy.

A trend is currently underway in India where the builders start a project and their customers expect to complete it with his/her resources. This is not a good phenomenon. If cash flow stops at one point or other, the projects stall, and then banks have to intervene. This has to change. There should be a change in the attitude of the customers. Such situations will not arise if they pay on time. So choose the best customers,” he said.