DAMMAM, 16 January 2008 — More than 20 builders from various parts of India will take part in the two-day Indian property exhibition dubbed “Homes of India”, to be held at Carlton Al-Moaibed Hotel in Alkhobar starting tomorrow, organizers said.
The event is organized by the Bangalore-based StudioLine Conventions in association with India’s Housing Development Finance Corporation (HDFC) and its Saudi sponsor Rezayat Trading Co. Ltd. The expo showcases projects of leading builders in Cochin, Trivandrum, Kottayam, Thrissur, Guruvayoor, Delhi, Bangalore, Mumbai, Hyderabad, Pune, Jaipur and Chennai.
“Real estate in India has been one of the fastest growing sectors in the world. The appreciation has been tremendous with returns of 40 to 50 percent over a period of two years,” said Michael, CEO of StudioLine Conventions in Bangalore.
“Renowned International FDI’s (foreign direct investments) are banking on the high yield of Indian real estate due to its potential growth,” he added. Indian real estate industry continues to witness an overflow in funds, which come from not only private equity investors but also from builders looking for a strong hold in this market.
“Within a short span between April and September 2007, 21 private equity deals worth $1.29 billion were struck in the realty sector,” Michael pointed out.
According to a recent FICCI-Ernst & Young report on Indian real estate report, institutional investors expect $5 billion to be pumped into the sector over the next three years.