Monday 25, July 2016

Mumbai – MENA Herald: Over the last three years Indian nationals have topped the list of Dubai’s most active real estate buyers, investing USD 11.9 billion in the emirate’s real estate market. The figure illustrates the spending power of Indian investors and their demand for UAE based real estate investment opportunities.
Taking place from 3 – 5 March 2017 at the Bombay Exhibition Centre, Informa Exhibitions, in partnership with India’s leading real estate event organiser Abec, will launch the latest addition to Cityscape’s world renowned portfolio of events, Cityscape India, which is set to be a key meeting place for real estate developers, home buyers, private and institutional investors, architects and real estate professionals.
“We are excited to launch the latest edition of our growing portfolio of events in India. There has never been a better time for international developers and brokers to target Indian nationals to invest in global property markets,” says Wouter Molman, Cityscape Group Director. “The stability of the Indian Rupee and relaxation of rules that permit Indian residents to invest overseas has further created an investment climate favourable for international real estate.”
“We look forward to working with Abec, one of the largest private sector organisers of international shows with almost 10% share of the Indian exhibition market. Having their expertise and experience ensures that Cityscape India will evolve into the premier real estate and investment event in South Asia,” he added.
Cityscape India takes place at a pertinent time for Indian investors; according to Dubai Land Department (DLD), Indian investment in Dubai real estate totalled over USD 5.44 billion last year, an increase of 10% compared to the previous year, meaning Indian Nationals currently make up the largest non-Arab investor bracket in Dubai in terms of value and volumes.
Coupled with that, the average number of residential properties owned by wealthy Indians stands at 4; the highest in the world as the global average stands at 3.7, according to property consultant Knight Frank. Indian ultra-high-net-worth individuals (UHNWIs) have reacted positively towards wealth creation and their decisions relating to purchase of real estate abroad; for example, in the last 10 years 31% of Indian UHNWIs increased their asset allocations to residential real estate. Historically Indian investors have cited Dubai, Singapore, New York and various cities in the United Kingdom, predominantly London, as preferred destinations.
As Cityscape prepares to make its debut on the Indian sub-continent, it does so at a time when the country’s pro-market government is now one of the fastest growing major economies in the world, outranking China earlier this year. According to experts, the growth of the economy this year signifies India’s position as one of the sole bright spots in a flailing global economy.