Indian investors ‘very active in Dubai property sector’
Indian investors ‘very active in Dubai property sector’
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 edge up, but set for weekly loss on inventory build, US-China trade row
- US crude stocks last week climbed 6.5 million barrels, the fourth straight weekly build, almost triple the amount analysts had forecast
- An unprecedented volume of Iranian crude oil is set to arrive at China’s northeast Dalian port this month
SINGAPORE: Oil prices nudged higher on Friday on signs of surging demand in China, the world’s second-biggest oil user, though prices are set to fall for a second week amid concerns of the ongoing Sino-US trade war is limiting overall economic activity.
Brent crude oil futures were trading at $79.51 per barrel at 0521 GMT, up 22 cents, or 0.3 percent, from their last close.
US West Texas Intermediate (WTI) crude futures were up 19 cents, or 0.3 percent, at $68.84 a barrel.
For the week, Brent crude was 1.1 percent lower while WTI futures were down 3.5 percent, putting both on track for a second consecutive weekly decline.
Refinery throughput in China, the world’s second-largest oil importer, rose to a record high of 12.49 million barrels per day (bpd) in September as some independent plants restarted operations after prolonged shutdowns over summer to shore up inventories, government data showed on Friday.
The refinery consumption may rise through the fourth quarter as several state-owned Chinese refiners return to service after maintenance.
Undermining the strong refinery data, China did on Friday report its weakest economic growth since 2009 in the third quarter, with gross domestic product expanding by only 6.5 percent, missing estimates.
The weak economic data raised concerns that the country’s trade war with United States is beginning to have an impact on growth, which may limit China’s oil demand.
The trade war concerns combined with surging US oil stockpiles reported on Thursday are capping the day’s price gains.
US crude stocks last week climbed 6.5 million barrels, the fourth straight weekly build, almost triple the amount analysts had forecast, the US Energy Information Administration said on Wednesday.
“EIA Weekly Petroleum Status Report was a complete shocker sending Oil markets spiraling lower amidst some concerning development for oil bulls,” said Stephen Innes, head of trading APAC at OANDA in Singapore.
Inventories rose sharply even as US crude production slipped 300,000 barrels per day (bpd) to 10.9 million bpd last week due to the effects of offshore facilities closing temporarily for Hurricane Michael.
Meanwhile, Iranian oil exports may have increased in October when compared to the previous month as buyers rush to lift more cargoes ahead of looming US sanctions that kick in on Nov. 4.
An unprecedented volume of Iranian crude oil is set to arrive at China’s northeast Dalian port this month and in early November before US sanctions on Iran take effect, according to an Iranian shipping source and data on Refinitiv Eikon.
So far, a total of 22 million barrels of Iranian crude oil loaded on supertankers owned by the National Iranian Tanker Co. are expected to arrive at Dalian in October and November, the data showed. Dalian typically receives between 1 million and 3 million barrels of Iranian oil each month, according to data that dates back to January 2015.