JEDDAH: Nearly 20 property developers from the southern Indian state of Kerala have staged an exhibition here presenting more than 40 real estate projects to Keralite expatriates working in the Kingdom.
R. Sreekumar, manager Saudi operations at Housing Development Finance Corporation (HDFC), said the two-day India Homes Fair offers good investment opportunities for non-resident Indians (NRIs).
“The main intention of this fair is to tap the huge potential in the Saudi market,” he said, adding that it will also visit Riyadh (July 13-14) and Alkhobar (July 17-18) in order to maximize customer convenience. “It is for the first time that HDFC, in association with Rezayat Group, is hosting an Indian property show in the Kingdom exclusively for NRIs,” Sreekumar said.
HDFC and Rezayat joined the Bangalore-based StudioLine Conventions to hold a similar show in Alkhobar in January.
Over 25,000 housing units are on display with varying options, such as residential apartments and villas. Visitors can choose from a wide range of properties with values ranging between Rs1.8 million (SR157,500) and Rs6 million (SR 525,000).
“Apart from legal and technical assistance, HDFC offers customized home loan products such as two-in-one home loans and several flexible repayment options,” Sreekumar told Arab News.
“This is the right time to invest in real estate, especially in Kochi where investors have received 60 percent appreciation within one-and-a-half years,” he said.
Eight builders in Kochi including Marickar Group, Mather Projects and Kent Constructions are present at the fair. Other companies are from Calicut, Thrissur, Kottayam, Kannur and Thiruvanandapuram.
Sreekumar expected that sales worth Rs400 million (SR35 million) would be achieved during the exhibition. He said the real estate market in Kerala was growing at the rate of 22 percent annually. During the last 31 years, HDFC has given loans worth Rs1.6 trillion to 3.2 million clients.
Landmark Builders present four projects in Calicut: Acropolis enclave along the Bypass Road; Metropolis apartments in Jawahar Nagar; Silver Garden apartments in Paroppady; and Highlands villas along Mavoor Road.
Home Basics are developing Serene Hills apartments in Kottayam while Shanoor Projects are constructing Zenana villas in Thirumala with multi-health club, open-air auditorium, indoor games and other facilities. Favorite Homes are offering Palm Drive luxury villas in Thiruvanandapuram and Top Constructions in Thrissur are building many apartments in the district.
