Monday, February 20, 2017

Dubai 'safe haven for Indian property investors'

The Indian investors will continue to put their faith in Dubai's real estate sector in 2017 as the emirate has a proven reputation for delivering long-term benefits, said a UAE-based developer.

Dubai’s status as a safe haven for real investors remains intact and major developments driving the economy are building investor interest, particularly from India and the GCC countries, stated Okbah Abdulkarim, the chief operating officer of Artar Real Estate Development.

The Dubai Land Department has reported that out of almost Dh44 billion ($11.9 billion) in foreign investment in Dubai real estate last year, Indian nationals led the way both in terms of volume and value, with 6,263 investors making Dh12 billion ($3.2 billion) worth of property transactions.

“Dubai has very strong links, traditionally, with India, and the Indian market will remain a very important one for Dubai real estate this year and beyond,” remarked Abdulkarim, currently overseeing Artar’s Mada Residences tower in Downtown Dubai.

"Indian investors know, like and trust Dubai to deliver and, just as investors from across the Arab world and beyond, will be encouraged by the major developments taking place in Dubai which will help drive the economy," he added.

The Dubai real estate market has made a strong start to 2017, with the Dubai Land Department confirming transactions worth Dh30 billion ($8.1 billion) for the month of January.

Abdulkarim pointed out that Dubai has built protection from negative economic effects by creating an infrastructure for business, investment and living, and by promoting all this to a worldwide audience over the last 20 years or more.

“It is seen as a safe haven for investment, particularly in real estate, and while events over the last couple of years have affected confidence, Dubai is still regarded as a city where residential property provides long-term financial security,” he stated.

Abdulkarim said more and more investors these days were focused on recreation and prefered locations which allow people to walk rather than drive around and find parking.

Areas like Downtown are the most popular because there are so many attractions close at hand, and Dubai’s weather is perfect for walking seven months of the year, he added.

With 193 larger than average one-, two-, three- and four-bedroom luxury apartments, Mada Residences is a one-minute walk from the new Dubai Mall extension and within easy reach of other major attractions such as the Dubai Opera.-TradeArabia News Service

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