UAE Targets the Booming Indian Real Estate Market

December 6, 2007	(2 votes, average: 3.5 out of 5)  Loading ...
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The mushrooming Indian real estate market is a golden target for cash rich Emirates. United Arab Emirates are investing billions of dollars into India’s real estate sector through joint ventures with local companies as sovereign wealth funds and Middle East investment groups increasingly target India.

A statement issued by Rakeen, a project development company controlled by the government of Ras Al Khaimah, part of the UAE federation, made clear that it had linked up with India’s Trimex Group to build township projects across India.

Prasad Koneru, managing director of the joint venture revealed that Rakindo would “invest about $5bn” over the next five years.

Indian biggies DLF and Dubai’s Nakheel have announced a joint venture with plans to invest more than $10bn to build two townships on 40,000 acres.

Emaar Properties, the Dubai-based developer and the largest Arab real estate company, has a 40 per cent stake in a joint venture with India’s MGF.

Critics are pondering whether all the joint ventures will be able to realise their plans as they exceed what the established Indian developers have been able to build over the previous decades.

News Published Under:   Real Estate India |

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