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UAE Approves Extension of Visas for Real Estate Investors from Six Months to Three Years

by Paul Joseph June 30, 2011

The UAE federal government has approved the extension of visas for real estate investors from six months to three years, it has been announced. The decision, which is likely to boost a struggling real estate market and boost investor confidence, was taken during a Cabinet meeting chaired by vice-president and prime minister of the UAE and the ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum. “The government took a raft of measures as part of its efforts to underpin economic growth within its strategic plan 2011-2013, including extension of visa for real estate investors to three years instead of six months,” the UAE’s official news agency WAM announced. Presently, foreign owners of property worth more than 1 million dirhams are eligible to get a six-month visa, which needs to be reviewed every six months.

Tagged as: dubai, extension, foreign-owners, government-took, its-strategic, million-dirhams, official-news, plan-2011-2013, property-worth, real estate india, struggling-real, the-extension

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8th Edition of Indian Property Show Starts in Dubai

by Paul Joseph June 17, 2011 Uncategorized

The Indian Property Show opened at Dubai World Trade Center, Hall No.4. The 8th edition of the show was officially inaugurated by Chief Guest, H.E Shri K. Sankaranarayanan, Governor of Maharashtra, India along with Mr. Sunil Jaiswal, CEO Sumansa Exhibitions, organisers of Indian Property Show in the presence of key Indian real estate developers, senior officials from Sumansa Exhibitions, media and huge crowd of buyers. The three-day event, organised by Sumansa Exhibitions, brings together over 50 real estate developers from all over India and also pools lateral sector and auxiliary services such as home finance providers, lawyers, and Vastu consultants to provide a unified real estate networking platform for investment in residential and commercial property in India. Speaking at the occasion, H.E Shri K. Sankaranarayanan, Governor of Maharashtra, India, said, “The real estate market in India in general and Maharashtra in particular has seen tremendous growth despite the recession that has affected most nations of the world. My countrymen have benefited greatly from the booming economy and its impact both on commercial as well as residential property market. I invite all Indians from United Arab Emirates and other GCC nations to visit the Indian Property Show and see for themselves what the developers from India have on offer and to experience first hand, the strides made by this industry in the past year. I congratulate Sumansa Exhibitions on bringing the Indian Property Show to UAE once again, and extend my best wishes to them for the success of the event.” Mr. Sunil Jaiswal, CEO, Sumansa Exhibitions-Organisers of Indian Property Show said, “Our endeavour and core strength has been to create a convenient interface between millions of NRI’s in UAE and Developers in India. We aim at helping the NRI’s here to make the property purchase process seamless there by enabling them to nurture the earnest desire to own a property back home. In past couple of years the real estate sector in India has witnessed lot of changes and hence we want to provide a platform that addresses two factors that inhibit an NRI from taking a decision: accurate information and direct access to real estate developers from India.” Indian Property Show is set to showcase property worth $2322m to approx. 17000 visitors, and expect to generate $58m worth of business, making it the largest and most diverse event in its class. This year’s showcases range from affordable homes, ready apartments, luxury villas, holiday homes and eco friendly projects displayed by Unitech Ltd, Vatika Group, Godrej Properties, Hiranandani, Ansal Housing, India Bulls, Jaypee Greens, Lokhandwala, Ireo, Arihant Superstructure etc. Indian Property Show will also feature a series of free seminars; Pt Gopal Sharma will impart knowledge on Role of Vaastu in choosing properties, its implications etc, where as Industry experts will talk about real estate hotspots in Tier 2 & Tier 3 locations such as Gurgaon, Noida, Pune, Navi Mumbai, Chennai etc. The seminars will also further talk about the reasons to invest in these locations. International property guru & CEO Sumansa Exhibitions, Mr. Sunil Jaiswal will be taking charge of investment strategy, important aspects of investing etc. Adding further, Sunil Jaiswal, CEO Sumansa Exhibitions-Organisers of Indian Property Show said, “After testifying success in UAE market for so long, we have now taken the Indian Property Show to the huge Indian diaspora in other countries such as Singapore, Qatar, United Kingdom, & South Africa. Our show in Durban this March was a huge success and after Dubai we are looking forward to emulate similar success in London market in June end, Singapore in August, Doha in October and back in Dubai in December.” Amongst the high caliber exhibitors is the 3 C Company who are participating to showcase the eco friendly constructions. “As an environmentally responsible corporate, our vision is to provide opportunities for a healthy living & create a greener planet. Each project of ours is developed from the cornerstone of fostering economical but ecologically sustainable growth. Today we are proud to be heading the ‘Green Revolution’ by having already delivered, more than 13 million square feet of niche developments. We are confident that buyers are looking at such options and we are here to showcase the same to them.” said Brijesh Banote, Director- Sales & Marketing, The 3C Company. Mr. Ajay Sachdewa, HDFC, Dubai commented, “HDFC is how 3.8 million families spell the word Home Ome. Equipped with state-of-the-art information systems and well trained staff, HDFC has been able to respond swiftly to ever-changing customer needs, and has built up capabilities to approve loans within 48 hours. Aspects such as advanced capabilities in the area of processing loan applications, a committed, specialist team of trained and talented staff, technical guidance in respect of documentation, liaison with property developers etc., reflect HDFC’s efforts to serve its growing clientele. HDFC is looking forward for these 3 days of exhibition.” With surging interest by NRI’s in property purchasing, favorable Government policies, and scorching competition amongst developers to tap the buyer, it is indisputable that Indian Property Show has become a magnifying glass for observing trends of Indian real estate sector and a perfect guide for making property purchase decisions.

Tagged as: chandigarh, countries, dubai, government, governor, gurgaon, indian, indian-property, qatar, real estate, recession, sunil-jaiswal, uae

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217 real estate projects scrapped in Dubai in two years

by Paul Joseph June 14, 2011

Dubai has stopped 217 property projects in the past two years from May 31, the Real Estate Regulatory Authority has remarked after completing an appraisal of the industry. RERA analyzed in excess of 450 projects and supposes 237 of them to be completed “in due course”, along with information enclosed in the Dubai government’s bond booklet. The total value of property sale transactions forced to USD 32.5 billion (119.5 billion dirhams) at the end of last year from USD 41.6 billion (152.9 billion dirhams) a year former, it announced. Dubai realty, whose Emirates airline tapped debt bazaars this month, has put up a USD 5 billion Euro Medium Term Note Program. The bond brochure, posted on the London Stock Exchange website, uttered the Dubai government had direct outstanding debt of USD 31.4 billion from May 20, comprising 22 billion dirhams at chief holding company Investment Corporation of Dubai. The emirate’s financial system expanded by 2.4 % in 2010 after dealing 2.4 % in the year-prior period, the prospectus remarked. Home values refused 1.2 % in May from the preceding month and rents fell by 1 %, along with the bank. Apartment prices dropped 1.3 % and villas lost 1 %.

Tagged as: accent, colorful-list, colorful-shading, dubai, investment, light-grid, light-shading, london, london-stock, medium-grid, medium-list, shading, total value of property

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250 Indian Projects to feature at Dubai Expo

by Paul Joseph June 6, 2011 Uncategorized

Dubai: More than 250 projects worth $2200 million will feature at an upcoming Indian real estate show in Dubai. The eighth edition of the Indian Property show is scheduled from June 16 to 18 at Dubai World Trade Centre. Organised by Sumansa Exhibitions, the show is expected to generate business worth $58 million, a statement said. Seventy per cent of the projects at the exhibition are residential while 30 per cent offer commercial and retail space, it added. Visitors will be able to look at a spectrum of properties available, different investment options, financing sources, Vaastu consultations and sorting out legal queries. “The Indian property show connects buyers and developers at an opportune time, with the Rupee slated to be strong against the dollar and demand for property at a high, we will again witness rise in property prices in India in near future and hence this is a right time for the investors to buy the property,” said Sunil Jaiswal, CEO Sumansa Exhibitions. “Also those keen to expand their financial portfolios with real estate as a hedge against rising inflation and those looking to maximize their ROI should definitely visit Indian Property Show.” “Buoyant with the response we received last time, we decided of making this show biannual this year. Investors, buyers and Developers all have encouraged us to hold the show again after 6 months. The last show saw more than 17000 visitors; we expect a similar response this time as well,” he added. The exhibition also features property and investment seminars by property industry gurus, international fund managers, and legal advisers. This year the seminars aim to guide the buyers on the booming real estate markets within India along with the benefits of investing now. Anuj Malik, sales head, GCC for Unitech , one of the prime exhibitors at Indian Property Show, said: “ The global meltdown, unrest in few parts and job uncertainty may have also prompted the NRI’s in UAE to buy property in India. Catching up on these trends Indian realtors is going that extra mile to make homes that fulfill individual’s aspirations and are still affordable.” “We are participating in the upcoming Indian Property Show with aggressive pricing of INR17 lacs ($38,000) onwards and providing all options such as first time buy, second home, investment option, budget homes & holiday homes.” Ajay Sachdewa, regional head-Dubai & GCC, HDFC, a leading India-based bank, said: “Through this exhibition we plan to meet potential customers and we foresee a strong demand as Indian property market has revived very quickly as compared to other markets in the world.” “This is due to strong RBI policies, Government planning and healthy credit history. HDFC has made it easier for the Gulf based NRI’s to apply for a loan to HDFC – India.” “HDFC through its office in Dubai and all the GCC countries through Service Associates, now offers advisory services in real estate finance to the Middle East based Non-Resident Indians who wish to acquire homes in India. These offices will coordinate the entire loan process in India,” he added.

Tagged as: dubai, financial, government, india-catching, indian, markets, middle-east, real estate, real estate india, time, uae, year

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Builders using ‘leisure home’ idea to tempt buyers

by Paul Joseph June 3, 2011 Uncategorized

In Kolkata and new Delhi real estate, What Shakti Nath, chairman of Logix Group , explains us with a swing of his arm is a widen of unfertile territory along the Noida expressway, holding out the assures of a residence. We are constructing a sports city here. You can find out horse riding, or engage in fishing or even butte y breeding, he remarks, hurling his project above struggle. Nath, a Property developer, knows these are tricky times building costs are growing, home loans are becoming posh and the gap of demand and supply is extending owing to a supply excess. If a firm themed scheme as well involves an adequate concentration of financial action at its place, either in the area or in fact generated by the project, it is bound to make customer on top of investor interest, utters Sahel Pramendra, head-markets, Jones Lang LaSalle India, a property consultant. The sole selling tips for a fresh residence complex being constructed IREO in Gurgaon Real Estate is a pioneering house control technology, whereby tenants can control most pieces of their residences using a central console. We studied the sports city notions in Dubai and other global real estate markets to recognize the right product mix. There is a large demand these days for sports based infrastructure, announces Nath. Crossways the expressway, Jaypee is constructing a 1,200-acre Wish Town, with lavishness houses approximately an 18-hole and a 9-hole golf course. Wish Town will too have swan lakes, meditation huts, fruit orchards and gazebos. In Ahmedabad property , Pranav Shah is constructing a golf property in Sanand, previous to Tatas Nano plant.

Tagged as: ahmedabad property, colorful-shading, dubai, home-loans, light-grid, light-list, light-shading, medium-grid, medium-shading, project, sports

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Developer Using ‘Leisure Home’ Concept to attract Buyers as Well as Investors

by Paul Joseph June 1, 2011

What Shakti Nath, chairman of Logix Group , shows us with a swing of his arm is a stretch of barren land along the Noida expressway, holding out the promise of a home. We are building a sports city here. You can learn horse riding, or engage in fishing or even butterfly breeding, he says, pitching his project above competition. Nath, a real estate developer, knows these are difficult times — construction costs are rising, home loans are becoming expensive and the demandsupply gap is widening due to a supply glut. His bait for the buyer is therefore not just the home but the fishing academy and the butterfly breeding course that come with it. In a market, which is lacking the spur, leisure homes are just another way to lure the buyer. Some developers are offering interesting concepts and themes. You can send your kid to an inhouse cricket academy, control your home appliances from a distance with an Ipad-like gadget or jog on your terrace while its raining. Or you can hitch a ride on a speedboat in the adjacent marina and spend a lazy Sunday in the shade of a fruit orchard. Having a theme helps in creating differentiation in a market that has been deluged with launches of residential projects, say experts. If a certain themed project also involves a sufficient concentration of economic activity at its location, either in the vicinity or actually generated by the project, it is bound to generate end user as well as investor interest, says Sahel Pramendra , head-markets , Jones Lang LaSalle India , a real estate consultant. The unique selling point for a new apartment complex being built by IREO in Gurgaon is an innovative home control technology, whereby residents can control most aspects of their homes using a central console. With the iHome Pad, you can pre-set electrical gadgets like the washing machine , dishwasher or air-conditioning , remotely unlock the front door or control mood lighting. The company has maintained this unique feature in all adverts, knowing well it will force the buyer to at least explore the project , says Saurabh Raheja of Raheja Realty , a brokerage firm based in Gurgaon . Sports is a big differentiator. Jaypee Infratech, for instance, is building a sports city in Greater Noida , which includes a Formula 1 racing track and a full-sized cricket stadium. The 3C Company has recently announced its Sports Village , which will also have a cricket stadium, hockey, squash and even boxing. The 200-acre Logix Sports city too will have a golf course. We studied the sports city concepts in Dubai and other international markets to understand the right product mix. There is a big demand today for sports based infrastructure , says Nath. Across the expressway , Jaypee is building a 1,200-acre Wish Town, with luxury homes around an 18-hole and a 9-hole golf course. Wish Town will also have swan lakes, fruit orchards , meditation huts and gazebos. In Ahmedabad, Pranav Shah is building a golf property in Sanand, ahead of Tatas Nano plant. The project will have an 18-hole Jack Nicklaus designed golf course and around 800 farmhouses. But more than that we will have several lakes including one which will be bigger than the Vastrapur lake in Ahmedabad, says Shah, managing director of Navratna group. Such developments are a big draw, especially for the well heeled, but even the young want a space there. These new concepts catch the eye of the buyers, he says. Some of these projects have managed to garner additional demand for these developers even in a low market. Amrapali , which launched its unique sky bungalow concept in its Heartbeat City project about three months ago, has already managed to sell 870 of the 1,400 apartments it launched in the first and second phase. Homes in this project will have a private elevator entrance , a private garden and no common walls. The project offers an exclusive feel, says Shiv Priya, executive director at Amrapali Group .

Tagged as: buyer, dubai, fishing, gurgaon, international, kolkata, mumbai, noida, real estate, real estate india, sports, unique

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M3M Ropes in L&T to Build 7–Star Luxury Residence ‘M3M Golf Estate’ in Gurgaon

by Paul Joseph April 18, 2011 Uncategorized

M3M India Ltd has appointed Larsen & Toubro, one of the leading construction firms, for building their finest 7-star luxury residence — M3M Golf Estate in Gurgaon. The project will also be constructed by L&T in association with LERA International, which is one of the world’s leading consulting firms, providing modern and innovative structural engineering designs. The estimated worth of this deal for phase-1 is around Rs 400 crore, out of a total investment of over Rs 2,000 crore. The project will be completed in 33 months, much before the scheduled time of 42 months, the company said in a press release. Spread over a sprawling 75 acres, the project is strategically located on the Golf Course Road (Extn.) in Sector 65, Gurgaon, 30 minutes drive from the Indira Gandhi International Airport. M3M Golf Estate boasts of luxury apartments built around a 9 hole reversible ‘In City’ golf course designed by the world famous architect, Graham Cooke. The architecture is a perfect synthesis of green eco-friendly green landscapes and cutting edge designs. The project is designed by world renowned architects ARCOP headed by Ramesh Khosla. The project has received awards internationally, as ‘Best Upcoming Golfing Lifestyle Residences in India’ in USA, Dubai and UK. Speaking on the occasion, Basant Bansal, chairman and managing director, M3M Group said, “In line with our commitment to give the best of quality and timely delivery, we are happy to appoint L&T which is one of the world’s best construction groups. “M3M Golf Estate” is our much awarded project, internationally acclaimed, and we have designed this, keeping in mind the taste, class and the requirements of our target audience. We ensure the use of latest technology and safety of structures.” M3M Golf Estate offers state-of-the-art ultra luxury apartments with modern amenities and an aesthetically designed golf course. It will feature world class amenities, phenomenal outdoor and indoor living spaces, state-of-the-art kitchens, replete with fittings and high-end fixtures. Wi-Fi in all buildings, roof- top jogging tracks, and world class club houses.

Tagged as: dubai, estate, faridabad, golf, indira, lifestyle, mind-the-taste, noida, real estate developers, real estate trends, timely-delivery, usa

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The Global Effect of India Real Estate

by Paul Joseph April 15, 2011 Uncategorized

When Farallon Capital Management, a U.S. hedge fund, and its business partner, Indiabulls developers, seized an 11-acre real estate in central Mumbai in March 2005 for $54.5 million an acre, the buy was titled an operate of silliness by home developers. A few months later, when the same joint venture presented $95.5 million an acre for a close property, this was the second-lowest bid. The first vigorous impact that declared a worldwide change in the India Property sector appeared when the Government brought in latest policies in February 2005. It permissible 100 % foreign investments in erection plans with quick-track approvals. But the mortal magnetism for foreign investors was the potential investment returns of 25 % or more in Indian plans that were almost unfeasible to get in the US and European markets these days. Industry sources in excess of 90 foreign investors are previously in the country tapping into the property investment avenues in India region. Dozens of US funds are being grown for investments in Indian Real Estate . Those raising the funds comprise Goldman Sachs (US$ 1 billion), Blackstone Group (US$ 1 billion), Morgan Stanley (US$ 70 million), Citigroup Property Investors (US$ 125 million) and GE Commercial Finance Real Estate (US$ 63 million) JP Morgan, Lehman Brothers, Warburg Pincus, Merrill Lynch, Warren Buffett’s Berkshire Hathaway, Starwood Capital and Colony Capital, and trust it or not this is just the tip of the ice-berg. Morgan Stanley closed up a deal worth regarding US$ 150 million by way of Oberoi Constructions in Mumbai Property . The Nakheel Group in Dubai entered into a US$ 10 billion transaction with DLF for housing plans in Tier I and II cities. This was pursued by three financial institutions — Kuwait Investment Company (KIC), Khaleej Finance and Investment (KFI) from Bahrain, and Kuwait Finance House (KFH) — from the Middle East supporting a US$ 200 million fund for investing in India properties.

Tagged as: colony-capital, dubai, home developers, house, india property, india real estates, investment, kuwait-finance, middle-east, mumbai property, property

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A Dubai house is cheaper than Mumbai and Delhi

by Paul Joseph April 9, 2011 Uncategorized

Dubai has been the usual second home Mecca for wealthy India property investors. At the present, that trend is speeding up with Dubai presenting some huge bargains following the property droop in the region. The political conflict in the Middle East has injured buyer sentiment to some extent, but various foreign investors, together with Indians, are arresting great deals in the distressed real estate market. Compared to Mumbai and Delhi property , Dubai land currently is 30-50% cheaper. along with research by property consultancy Cushman & Wakefield, capital prices in Cuffe Parade in Mumbai is about Rs 40,000-60,000 per sq ft, while capital values in Palm Jumeirah is just Rs 15,000 per sq ft. Sanjay Dutt, CEO-business in property consultancy Jones Lang LaSalle India, utters the interest in Dubai “is similarly dole out in the midst of investors replying to efficient property rates in Dubai and those eager to cash in on an superior bazaar later.” Niall McLoughlin, senior VP in DAMAC Properties, a commercial and residential developer in Dubai, remarks that at an average price of $264 / sq ft in Dubai, “real estate prices are currently about 60% less exclusive than in central Mumbai real estate , where the price is $664 per sq ft”. Other factors akin to the proposed Strata law are as well favoring proprietors in Dubai. The law, planned by Real Estate Regulatory Authority of Dubai, offers the residence owners more control over their property. Home owners had also been crying foul over steep property management fees paid to firms maintaining their buildings. The Strata law seeks to resolve the issues between home owners and property management firms by monitoring the cost and quality of services offered. Pre-recession, property prices in Dubai were unreasonable, making it high-priced. “The markets were tentative then. They are more grown-up now,” speaks Richard Stokes, sales manager at Smith & Ken property. His firm has sold 250-300 properties in the previous year and Indians have purchased 30% of those.

Tagged as: been-the-usual, delhi property, distressed, dubai, india, india property, making-it-high, middle-east, mumbai real estate, price, real estate, superior-bazaar

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Dubai Property Market attracts Indian Investors

by Paul Joseph April 7, 2011 Uncategorized

A growing number of investors from India are showing interest in Dubai as they look to capitalise on 60 per cent savings per square foot in the Dubai property market, a Dubai-based real estate company has said. DAMAC Properties said in addition to the price disparity, Dubai’s property market is becoming increasingly attractive to foreign investors due to the implementation of a raft of new regulations, such as the new Strata law, which favours home owners. “As these new tougher and more stringent regulations take hold, Indian investors are looking to take advantage of the plethora of investment opportunities that exist within the emirate’s real estate market,” it said in a statement. At an average price per square foot of USD 264 in Dubai, according to Colliers International, property is now 60 per cent less expensive than in central Mumbai , where the price per square foot is USD 664 according to Jones Lang LaSalle . DAMAC Properties Senior Vice-President Niall McLoughlin said: “At DAMAC Properties, we have seen a marked rise in interest across our Dubai portfolio from Indian investors; in January 2011 we had double-digit growth in enquiries on the same period last year. “Not only are we seeing a surge of interest from potential Investors from India but also from other emerging markets such as sub Sahara Africa and China who are looking for quality assets, at competitive prices.” According to McLoughlin, even though confidence was shaken following the global slowdown, the introduction of new regulations in Dubai gives property buyers more security over their investments. DAMAC Properties has also welcomed the return of liquidity into the mortgage market, which it cites as another major factor in the revival of the emirate’s real estate sector.

Tagged as: banking and finance, china, dubai, implementation, india, indian, introduction, new-regulations, property prices, property-market, real estate, real estate developers, real estate trends, sahara

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