UAE NRIs to pump in Dh122mn in Indian real estate market

Investment from  UAE  property developers will constitute for about five per cent of the total funds they require

Non resident Indians (NRIs) in the UAE are reportedly interested in putting in upto Dh122 million in India's emerging real estate market across 16 rural development, realty industry experts said. Sixteen Indian property builders are offering investment opportunities for the development of 100-150 realty projects spread out over 1,000 acres of land area.

K.S. Manoj, vice-president of Pan-Eastern Trade and Exhibitors said: "We are expecting sales of Dh34.9 million to Dh43.7 million from Abu Dhabi and Dh69.9 million to 78.6 million from Dubai."

Manoj said UAE real estate builders are more prone to develop land in the India rural markets due to low prices. Manoj said investment from the UAE residential property developers will constitute for about five per cent of the total funds they require. Most of the investment will be pumped into the Indian real estate sector by investors.