More Indians rush to own properties in Dubai

“Dubai’s real estate market is becoming an attractive proposition to a multitude of international investors. However, no other nation invested more money into Dubai than India, with little over half-a billion dollars that is, ₹3,400 crore worth of investments in 2011; the investments from Indians have gone up 10 times in the last four years. Last year itself, they poured in ₹37,060 crore ($5.45 billion) which was again an increase of 10 per cent from the previous year,” said Asanga Silva, Deputy General Manager, Sumansa Exhibitions, the company bringing in Dubai Property Show to Mumbai.

He said Indians like to invest in Dubai as it provides high capital gains, great return on investment, tax-free environment, proximity to India and transparent deals.

Overall, Indians have pumped in a total of ₹1,24,440 crore ($18.3 billion) into Dubai realty since 2011.

According to data from the Dubai Land Department (DLD), released by its Real Estate Research and Studies Department, the total investment transactions for the first half of 2016 reached ₹10,2,000 crore ($15 billion) from 26,000 investors made up of 149 different nationalities.

Read more on  The hindu businessline

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