photo credit: eguidetravel
India’s faltering property market is still attracting the interest of international property developers, with a firm from Dubai now showing keen interest.
According to Emirates Business, Mohamed Binbrek, chairman of Dubai Properties, said the country may be a priority and revealed an announcement could arrive soon.
India is still seen by some foreign firms as having high investment opportunity potential due to an expected resurgence in demand for affordable homes.
Trump Organisation US is among firms looking to enter the country’s property market with the help of a $1 billion hedge fund.
Quoted by Emirate Business, Mr Binbrek said:
“We have been working on this issue for the last two years and we believe that it is about time we look at going international.
“I am confident that by the end of this year, we will be in a position to announce something and we would like to do something in the Indian subcontinent. It is a strong possibility.”
Dubai properties is already a huge name in the UAE market, and is expected to hand over units in its AED 3 billion Executive Towers project in Dubai later this year.
All units in Executive Towers are already sold out, and the company has already completed the likes of the Jumeirah Beach Residence in 2007.
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