By Neil Halligan
GCC-based NRIs represent half the Indian company’s international customers
Tata Housing, the real estate developer arm of Tata Group, has announced it will open an international office in Dubai to meet the growing demand from consumers in the region.
Non-resident Indians (NRIs) represent between 15% to 20% of Tata Housing’s total sales, with that figure expected to rise in the coming years according to Brotin Banerjee, CEO & Managing Director, Tata Housing.
“With the overwhelming response received from the NRI customers, we believe this is the right time for NRI’s to buy their dream homes in India. Currently, NRIs contribute between 15-20 percent of our total sales and this has been increasing in the last few years. We expect this to increase to 25-30 per cent in the next 3-4 years,” said Banerjee.
He said with half of Tata Housing’s international sales coming from the GCC, the decision was made open the office in Dubai.
“With the opening of our Dubai office, the company will reach out to NRIs who constitute more than 30% of the population in the UAE. The Gulf market has witnessed rapid strides in the past decade with Gulf Cooperation Council (GCC) contributing to more than 50% of our international sales. Opening this office in Dubai reaffirms our commitment to this important market and will enable us to provide support to our increasing number of customers from the UAE,” he said.
The Dubai office will further strengthen Tata Housing’s global presence, in addition to existing international offices in the Maldives and Sri Lanka.
The company has announced a limited period offer ‘Happy Returns’ to celebrate the opening of its international office for NRIs. Under the scheme, the customer will get 72,000 – 1,000,000 Jet Privilege Miles on the purchase of a home across the Tata Housing projects in India. The offer is applicable to any customer living outside of India with a valid non-resident Indian status, which includes Indian passport holders, those having valid work permits outside India and green card holders.
Tata Housing is developing large townships and theme-based projects across Mumbai, Lonavala, Talegaon, Pune, Ahmedabad Goa, Gurgaon, Chandigarh, Bengaluru, Chennai, Kolkata and Bhubaneswar.For all the latest real estate news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.