JEDDAH/DAMMAM, 17 May 2005 — International investors are among local expatriates who have shown keen interest in investing in real estate properties across India.
This was stated by representatives of Indian builders who are currently conducting a road show, organized by Arabian Trade Show in association with the Housing Development Finance Corporation Ltd. (HDFC) and the Alireza Group’s Rezayat Trading Co. Ltd., in different parts of the Kingdom. The two-day India property show that offers multiple options, ended at Jeddah Trident yesterday.
Inquiries from local expatriates have been more for properties in Hyderabad, Bangalore and Madras, M.P. Vijay, marketing executive at HDFC, told Arab News.
The show, which was earlier held in Alkhobar, moves to Riyadh (Al Mutlaq Hotel) for three days from May 18. It has been offering properties at various locations in cities like Calicut, Cochin, Bombay, Lucknow, Madras and Bangalore. There was also a stand dedicated to discuss loan formalities involved in owning a property.
On offer are a wide range of apartments, villas, developed plots, twin houses and office space. “We’ve also been offering free NRI services during the show,” Vijay said, adding that HDFC offers “easy and quick home loans at competitive rates.”
The Indian real estate market is currently on the upswing since the federal government has been allowing 100 percent foreign direct investment for development of townships, housing, infrastructure, commercial premises, hotels, resorts, hospitals and educational institutions, recreational facilities, etc. A number of multinational companies have started joint ventures across some Indian cities. Two Indian business delegations, represented by New Delhi-based India Trade Promotion Organization (ITPO) and Bombay-based Indo-Arab Chamber of Commerce & Industry (IACCI), have put up 36 stands for their member-companies at the ongoing 23rd multisectoral trade fair.
The ITPO, which is participating in the fair for the first time, is led by its Executive Dirctor I.D. Agrawal. Its delegation comprises 14 firms, including Spices Board of India, Cochin, Tea Board of India, Dubai, and firms dealing with engineering goods and household items.
The IACCI delegation is led by Sunanda Rajendran, its executive director.
The Consulate General of India held a buyer-seller meet at Jeddah Trident yesterday, which was largely attended by local businessmen.
