Real Estate is one of the sectors that are now witnessing high growth in India. Because of the continuous high economic growth in India, the demand for office space and shopping malls has increased significantly at a short time. Now, major realty companies of UAE are getting interested to invest in India in this sector. I am quoting from a report of the Financial Express:
“A booming economy and the huge middle class segment in India offers a lucrative destination for investors and several leading UAE real estate companies such as Emaar Properties, Al Ghurair Group's ETA Star, Al Rostamani Enterprises' KM Properties, Nakheel, and Dubai Properties have announced major plans in the country.
They are investing in hotels, malls, healthcare, housing, IT parks and integrated townships all over the country from Mumbai, Delhi, Chennai, to Hyderabad.
In December 2005, Emaar MGF announced India's largest foreign direct investment in real estate, for projects with a capital outlay of USD4 billion. Developments are planned in Delhi, Andhra Pradesh, Karnataka, Tamil Nadu and Maharashtra.”
UAE companies have one advantage in this regard- geographical proximity. Secondly, thousands of Indian people work in UAE. I am happy that UAE companies are now investing in this sector in India. India needs to improve its infrastructure and Indian government does not have sufficient fund for it.
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