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« Indian Realty Cos Become Prey of Falling Stock Market | Home | A Coding System to Deter Scams in Property Market »

Realty Projects Draw India, UAE Closer

Love of Indian property developers for Dubai property and vice versa apparently shows both the countries being bullish on expanding their footprints in each other’s arena.

A number of prominent Indian real estate developers such as Nahar Group and Sheth Estate are looking forward to carve out a substantial niche in Dubai, the most lucrative emirate of UAE. And then there are UAE based construction companies like Sternon Group are setting up real estate projects in India.

Sheth Estate has plans to invest 1.5 billion dirhams into Dubai’s real estate market. The company will foray with its first two residential towers – Iris Blue and Iris Bay, located within Dubai Marina. The construction is likely to be over by December. Indeed, the company boasts of being ahead of time with already having built 23 floors.

Close on the heels is Mumbai based real estate developer Nahar Group who has opened an office in Dubai to cater to demanding requirements of the growing clientele. The group also envisages serving NRIs base in Hong Kong, United Kingdom, and United States.

Now, it is time to check out growing interest of Dubai property developers in Indian real estate. Sternon Group, a leading real estate developer in Dubai is coming up with a Rs. 1,200 crore mega-project on the Mumbai-Pune Express Highway in proximity to the proposed New Mumbai International Airport in Panvel.

Sternon is marketing the project in international market, and has entered into an exclusive global marketing alliance with Garnet Construction Ltd, a decade-old real estate developer.

News Published Under:   Real Estate Developers | No Comments »

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