Indian property giant plans Saudi, Bahrain launch

  • Share via facebook
  • Tweet this
  • Bookmark and Share
Indiabulls set up its first office in Dubai late last year.

Indiabulls set up its first office in Dubai late last year.

One of India's largest listed real estate developers has announced plans to launch offices in some Gulf countries as part of an overseas expansion.

In December, Indiabulls Real Estate Ltd, which has delivered 3.3 million sq ft developed space valued at $1.75bn in the last four years, announced it had set up in Dubai's Karama area.

And it has now outlined plans to open representative offices in Saudi Arabia and Bahrain by the end of 2013.

The company said in a statement that it has also formalised strategic alliances with banks to offer home loans to Indian expatriates in the region interested in investing in their projects.

Santosh Tandel, regional head - MENA Region, Indiabulls, said: "There has been a growing demand from expatriate Indians for home loans and property acquisition. Given our pan India presence, Indiabulls' housing projects have evoked a tremendous interest among the NRI community."

He added that banking alliances have been set up in the UAE, Qatar, Oman and Kuwait to offer home loans to Indian expats.

"Our endeavour is to present end to end solutions to the expatriate segment giving investment options as well as financial solutions," Tandel added.

Indiabulls Real Estate has development projects spread across residential complexes, integrated townships, commercial office complexes, hotels, malls, and infrastructure development.

The company said it focuses on super metros with 90 percent of the projects in the National Capital Region of Delhi, Mumbai and Chennai.

The Indian real estate market, which is expected to reach $90bn by 2015, is undergoing a shift.

The fall of the rupee is encouraging more investment by Gulf-based NRIs into the realty market which offers relatively higher returns.

Related:
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Do celebrity branded projects ever work?

Do celebrity branded projects ever work?

The long list of celebrity-endorsed real estate developments...

1
Is this the end of the Gulf’s Indian cash dash?

Is this the end of the Gulf’s Indian cash dash?

From currency woes to taxation loopholes closing and a clampdown...

2
Mall talk

Mall talk

Plans for Dubai’s Mall of the World have made headlines all over...

1
Most Discussed
  • 24
    World's most pierced man refused entry to the UAE

    Tolerance has its limits everywhere including Dubai and those who considered Dubai a lawless circus were held accountable...so thank you Dubai authorities... more

    Thursday, 21 August 2014 10:51 PM - Khalil
  • 23
    Baby NOT on board?

    Some of you cry babies need to get your own personal apartments on the plane ! You cry more then the babies I have seen in my travels. LOL more

    Thursday, 28 August 2014 9:10 AM - Jim
  • 21
    Israel “must be punished” over Gaza, says Dubai police chief

    This high moral ground that Mick is talking abt sound very familiar. May I remind Mick that the US & its British ally alone killed over 1 million innocent... more

    Thursday, 7 August 2014 4:12 PM - Mathew