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Dubai Property Show eyes India

Wealthy Indians to remain biggest non-Arab property buyers in emirate

Dubai - Sumansa Exhibitions plans to launch the Dubai Property Show in major international markets to promote the emirate’s real estate sector and will hold the next event in Mumbai this November, its top official says.

Following a successful show in London in March, the organiser of the popular Indian Property Show said it is also planning to launch the Dubai Property Show in Russia, China, Hong Kong and Africa.

“There are a few other events in the pipeline and the details will be disclosed in due course of time,” Sunil Jaiswal, president of Sumansa Exhibitions, told Khaleej Times ahead of the 16th edition of Indian Property Show in Dubai, which starts today.

He said the Dubai Property Show was launched with a vision to take the emirate’s real estate to the world.

“With so much local supply and limited demand, there is a need to explore international markets for Dubai real estate sector,” he said.

Jaiswal said the Dubai Property Show in London was a resounding success with over Dh300 million in sales closed at the show (post-show follow-up would account for this number going up significantly].

“About 36 of Dubai’s finest in real estate participated at the launch edition of the show at London Olympia in March. The show was visited by over 5,950 serious property buyers and investors during three days of exhibition,” he said.

Show in Mumbai

Jaiswal said the next edition of the three-day Dubai Property Show will be held in Mumbai from November 6 at the Bombay Exhibition Centre. “Today, Mumbai is the hottest place to be for real estate sales; with staggering local real estate prices and the world’s richest billionaires residing in Mumbai, there’s massive potential for Dubai real estate to capitalise on.”

He said Dubai’s tax-free economy, ease of funds transfer and repatriation, world-class infrastructure and superstructures combined with its luxurious lifestyle make it an attractive destination for to live, work and invest in.

“Mumbai being only two-and-half hour by flight from Dubai and with five flights a day by Emirates, there is so much synergy between these two super cities. There will be much to expect at the show,” he said.

Elaborating, he said the Dubai Property Show takes Dubai as a whole to India. Seminars will be held by the Dubai Land Department (DLD), Dubai Tourism and Commerce Marketing, legal counsels and top developers of Dubai talking about why Dubai is a hotspot for living and investment, the returns one can expect, success stories of investors, new and upcoming projects, Expo 2020 plans and so much more.

“Dubai’s finest real estate companies will be present at the show presenting their projects and encouraging investment into the emirate. An exclusive themed area, the Dubai Lounge, will showcase old and new Dubai and the massive progress the emirate has made in a short span of two decades.”

 Phenomenal response

Jaiswal said the response for Dubai Property Show – Mumbai has been phenomenal and the show is nearly sold out. “The [Dubai real estate] industry is hungry for new business and new markets with buying power. This is no surprise with over 45,000 new units expected to be delivered by year-end. Additionally, with the majority of local real estate companies revolving around the same buyers set; foreign markets with new buyers has become a must.”

He said Dubai’s leading developers including Dubai Properties, Damac Properties, Kleindienst Group, Dubai Sports City and many others are on board as confirmed participants. Top brokers have also committed to the show. In total, 50 leading real estate companies from Dubai will be present at the show in Mumbai. The DLD will be present as the official sponsor of the exhibition.

 Indian investment

Jaiswal said Indians today rank the highest investors into Dubai real estate with over 7,353 transactions totalling over Dh18 billion during 2014. In the non-Arab category, India has held the top position steadily during 2012, 2013 and 2014.

Referring to latest DLD data, he said wealthy Indians continue to remain the biggest non-Arab buyers of properties in Dubai during the first quarter of 2015, as well as more than 1,000 Indians invested a combined amount of Dh3.04 billion in various properties. “The trend and most popular among Indian buyers is apartments and villas; in fact, over 32 per cent of villas in Dubai are currently owned by Indian residents,” he said.

In reply to a question regarding the ratio of Indians investing from abroad versus Indians living in Dubai, he said it is a grey area as official figures released by the DLD does not reflect this detail.

“We believe it’s safe to say an Indian in Dubai or out of Dubai is still an Indian.”

 A different show

Jaiswal was quick to answer about so many exhibitions showcasing Indian properties in Dubai and said the Indian Property Show is different from most of the shows as it really stands out and make a difference due to number of reasons.

“Well there is one exhibition on Indian properties in Dubai every month and in fact we as the organiser are happy to have some competition so our exhibitors and visitors can feel the difference.”

“Every edition of the Indian Property Show draws over 15,000 visitors; we expect the same for the upcoming show as well. In terms of business, as the sentiments are quite positive, I believe the exhibitors can expect healthy number of enquires.”

To a question, he said the Indian Property Show has been growing over the years and it will continue to grow so. “If you compare it to previous years we have nearly doubled up on the participation of the number of exhibitors as well as with the visitors. So at the moment we will definitely not say that the show has reached its saturation point,” Jaiswal concluded.

— muzaffarrizvi@khaleejtimes.com