Indian developers target NRIs at Dubai show

April 14, 2008	(Be the first to rate this story!)  Loading ...
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Major Indian property developers are showcasing their products, targeting the non-resident Indians (NRIs) in UAE and across the Gulf region at a property show being held here.

As many as 30 developers, brokers and managers are participating in the first such overseas exhibition which opened in Dubai yesterday, organizers said.

Vipin Aggarwal, executive director of Omaxe, said his company expects to more than double its profit to $120 million for the current year from $50 million in 2007 on investments by NRIs.

Aggarwal said that Omaxe, which has a marketing partner in Dubai has 56 ongoing projects in 32 cities across India worth $8 billion, with deliveries spread out over the next three years.

Sunil Jindal, the chief executive of SVP Group, which focuses on developing areas on the east of New Delhi said the company was banking on its “high delivery value for the past 50 years” to attract NRI investors.

Meanwhile, business development manager of Niho Construction Ltd in Gujarat, Ravin Bhojani, said his 40-year-old company was looking for a partner in UAE to peddle its wares and equity funds for expansion.

The exhibition has been organized by the Times of India, which says it had plans to hold the show twice a year.

“There are also plans for the two-day event to go to Kuwait, Bahrain, New York and London, where there are large numbers of NRIs and people of Indian origin,” Chandan Ahuja, senior manager for sales and marketing of The Times of India, said.

News Published Under:   Real Estate India |

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