DUBAI 28 October 2017: The 3rd edition of the Dubai Property Show will open in Mumbai next Friday.
Dubai Property Show in Mumbai generated Dh1.2 billion of inquiries in 2016. Even as more and more Dubai developers are looking to India, Indian investors made 10,628 transactions worth more than Dh20.4 billion in Dubai property between January 2016 and the end of June 2017.
The show will be held from 3rd to 5th November at Bandra Kurla Complex Mumbai.
Indians have long since been the largest non-GCC property buyers in Dubai.
“Indians consider Dubai as their second home, and for a good reason. In terms of population, they form the highest expat nationality in the emirate, significantly contributing to the UAE’s economic growth with presence across all walks of life,” added Asanga Silva, Deputy General Manager, Dubai Property Show, “Tourism-wise, Indian tourists are now the largest source market for Dubai, driven by the fact that many Indians have relatives and friends living in the emirate. Given the strong ties, it is only natural that when it comes to investing their money overseas, Indians consider Dubai as a practical option.”
As per the DLD, between January 2016 and the end of June 2017, Indian investors made 10,628 transactions worth more than Dh20.4 billion in Dubai property. Among the many features that have attracted Indians in large numbers is the fact that Dubai gives a much higher return for investment as compared to India. Coupled with a transparent, hassle-free procedure, financial backing, luxury at an affordable price, high production quality, higher rental yields, proximity to India, increasing connectivity across the world and the Indian rupee strengthening against dollar, Dubai’s real-estate has become the first choice of investment for many Indians.
Silva added: “For exhibitors, the Indian population provides the right mix of buyers, ranging from multi-millionaires to young people who dream big and have their eyes set on Dubai shores. In the past few years, Dubai developers have shown increasing interest in Indian investors, opening offices in key Indian cities and conducting road shows and exhibitions. Noticing the interest surge among Indian buyers, a number of Dubai developers are making way to the South Asian country”.
Exhibitors participating in the third edition of Dubai Property Show in Mumbai include Falcon City of Wonders, Dubai Properties, Dubai Investments, Meydan Sobha as Platinum Sponsors for the Show MAG Property Development as the Gold Sponsor, Tebyan Real Estate Development LLC as the Silver Sponsor, Nakheel PJSC, Azizi Developments, Kleindienst Group, Creative Zone, Dubai Sports City, Bloom Properties, Tiger Properties, Seven Tides are the other participating companies while Mashreq Bank joins as the Official Banking Partner and Seal Real Estate Registration Agent LLC as the Official Property Transfer Trustee among others.
‘Abu Dhabi Week’ opens in Mumbai
MUMBAI: The dedicated efforts of the Abu Dhabi Department of Culture and Tourism, to increase the numbers of tourists from India, has got off to a promising start this evening when several hundred Mumbaikars witnessed the opening of the first “Abu Dhabi Week” in India.
The exposition, which will run from Friday to Sunday at Mumbai’s sprawling Metropolitan Region Development Authority grounds, will feature a collection of Abu Dhabi’s cultural and tourist attractions, which the organisers believe will encourage more Indians to consider the emirate as a holiday destination.
While addressing the media, members of the travel trade and distinguished invitees before declaring the opening of the weekend festival, Mubarak Al Nuaimi, Director of the Promotions and Overseas Offices of the Abu Dhabi Department of Culture and Tourism, said that during the first eight months of 2017, Abu Dhabi had seen a 9 percent increase in hotel occupancy by Indian guests.
A total of 223,000 guests from India stayed in hotels in Abu Dhabi for an average of 2.8 days during this period, he added.
In a pre-event statement reflecting the increasing potential of India for the Abu Dhabi tourism sector, Saif Saeed Ghobash, Director-General of the Abu Dhabi Department of Culture and Tourism, said, “India is a key tier-one priority for Abu Dhabi, and it represents our second-largest international source market for hotel guests.”
“Apart from positioning the emirate as a holiday destination, we will also underline the message that Abu Dhabi is an ideal business location for the meetings, incentives, conferences and exhibitions, MICE, industry, with a superb selection of venues for delegations from India,” he added.
Several Indians who attended Friday’s inaugural ceremonies shared the views expressed by Ghobash. Om Prakash, Director of In Orbit Tours, and a veteran of Mumbai’s travel trade has been organising “incentive tours” to Abu Dhabi on behalf of corporate clients.
Top-performing dealers and agents from companies are sent to Abu Dhabi on all expense paid visits, as part of these incentive tours. However, Prakash added that more and more Indians are now approaching him to help plan their visit to Abu Dhabi, solely for pleasure, and he foresees a large growth in tourism from India to Abu Dhabi in the coming years.
Bejan Dinshaw, Country Manager in India for the Department of Culture and Tourism, shared Prakash’s observations and pointed out that more and more young Indians are currently opting to visit Abu Dhabi. “I foresee the Abu Dhabi Week will be an encouragement for tourism and trade between India and Abu Dhabi,” he added.
The festival in Mumbai will run for three days, and a similar event will be held in New Delhi early next month, prompting the organisers to call the cumulative event, “Abu Dhabi Week in India.”