Indian investors ‘very active in Dubai property sector’

Updated 05 April 2014
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Indian investors ‘very active in Dubai property sector’

International Property Show (IPS) will have a large Indian participation under the umbrella of the National Real Estate Development Council (NAREDCO), a leading real estate body in India.
IPS organizers said India is reinforcing its stature not only as one of the leading investors in the Dubai realty market but also as a country that offers diverse realty offerings to investors based in the Middle East.
India tops the number of foreign investors and investment transactions in Dubai’s real estate market according to the leading real estate show that take place in Dubai from 8 – 10 April 2014 at the Dubai International Convention and Exhibition Center.
Dubai Land Department (DLD) said earlier that more than 8,092 investors from India notched AED17,939 billion transactions in Dubai real estate during 2013, surpassing all foreigner investors in the Emirate’s property sector.
NAREDCO has announced that the Indian pavilion that will include some of finest properties from across India from developers in Mumbai, Delhi, Bangalore, Goa, Noida and Gurgaon.
Some of the participating developers are Raheja Developers, Nahar Group, Mantri Realty, Godrej Properties, Heritage Group, Kalpataru, Patel Realty, Artha Properties, Landmark Group, Paramount Buildwell, Sunteck, Kanakia Spaces, HDFC Home Loans and others.
“Indian investors are very active in Dubai property sector,” said Sultan Butti bin Mejren, director general of the Dubai Land Department.
“Investing nearly AED 18 billion in Dubai reflects the huge interest from Indian investors in the Dubai market and their confidence in the lucrative returns,” he said.
“It is obvious that the Gulf region has presented itself as a key investments player in the world. The well developed infrastructure and strategic location of Dubai will drive this sector to greater success.”
Dawood Al-Shezawi, CEO, Strategic Marketing & Exhibitions, organizers of IPS, said: “A visit to the NAREDCO India Realty Pavilion will offer Indian expatriates living in the UAE and the Gulf a unique opportunity to select a place back home at a time the real estate is becoming one of the most lucrative investment options for NRIs.”
Sunil Mantri, president NAREDCO added: “For Indians in the Gulf, investing in India is a sentimental decision. As it is driven by a need to remain connected to their roots. The ‘NAREDCO Indian Pavilion’ would give you an opportunity of owning your own place back in India. With definitive pick up in the economy, as the GDP has improved, inflation has moderated, growth in industrial production is seen with other positive triggers, that has driven the stock markets to the current levels, investment in properties in India would be an lucrative Investment option.”
Al Shezawi added: “The India Realty Pavilion at IPS will serve as unique platform for Gulf Indians, HNI’s, investors, consultants and home buyers to check out exclusive deals offered by participating developers.”
National Real Estate Development Council (NAREDCO) is a premier body of Indian developers which works under the aegis of Ministry of Housing & Urban Poverty Alleviation (MHUPA), Govt. of India.
The council board represents a combination of Government representatives and Private Developers. Most of the reputed developers across the country are members of the council.
NAREDCO promotes ethical practices and inclusive growth of real estate industry in India.


Oil prices fall as US crude output hits record

Updated 54 min 1 sec ago
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Oil prices fall as US crude output hits record

  • US crude oil production reached 12 million barrels per day for the first time last week
  • As output surges, US oil stocks are also rising

SINGAPORE: Oil prices fell on Friday after the United States reported its crude output hit a record 12 million barrels per day (bpd), undermining efforts by Middle East-dominated producer club OPEC to withhold supply and tighten global markets.
International Brent crude futures were at $66.87 per barrel at 0326 GMT, down 20 cents, or 0.3 percent, from their last close.
US West Texas Intermediate (WTI) crude oil futures were at $56.84 per barrel, down 12 cents, or 0.2 percent, from their last settlement.
US crude oil production reached 12 million bpd for the first time last week, the Energy Information Administration (EIA) said on Thursday in a weekly report.
That means US crude output has soared by almost 2.5 million bpd since the start of 2018, and by a whopping 5 million bpd since 2013. America is the only country to ever reach 12 million bpd of production.
As output surges, US oil stocks are also rising.
US commercial crude oil inventories rose by 3.7 million barrels to 454.5 million barrels in the week ended Feb. 15, the EIA said.
Analysts say US output will rise further and that oil firms will export more oil to sell off surplus stocks.
“We see total US crude production hitting 13 million bpd by year-end, with 2019 averaging 12.5 million bpd,” US bank Citi said following the release of the EIA report.
Of that, the bank said, “we could be seeing some weeks with 4.6 million bpd of gross crude exports by end-year, adding to this week’s new record” of 3.6 million bpd.
Friday’s dips at least temporarily halted a rally that pushed crude prices this week to their highest for 2019 so far amid the supply cuts led by the Organization of the Petroleum Exporting Countries (OPEC).
OPEC and some non-affiliated producers such as Russia agreed late last year to cut output by 1.2 million bpd to prevent a large supply overhang from growing.
Another recent price driver has been US sanctions against oil exporters Iran and Venezuela.