DUBAI: Gemini Property Developers, a Dubai-based boutique property developer, is focusing on tapping into the Indian market to promote and sell its properties currently being delivered and developed in Dubai, by launching a major marketing campaign in Mumbai at the Dubai Property Show that takes place at Bandra Kurla Complex in Mumbai from December 7-9, 2018.
A number of UAE developers are currently participating at the annual Dubai Property Show that is aimed at tapping into the Indian investors, who have invested Dh83.5 billion (US$22.75 billion) in the last five years. Indian nationals are the largest foreign investors in Dubai’s real estate market – also dominated by Indian-owned developers – that creates a strong bridge between India and the UAE.
Indian nationals form the largest expatriate population in the UAE and they are also the largest foreign owners of business establishments in the country.
They invested Dh15.6 billion in Dubai’s real estate in 2017, Dh12 billion in 2016 and Dh20 billion in 2015 – their highest in a year, according to Dubai Land Department.
“India and the UAE are strategic partners – a relationship that has been cemented by back-to-back state visits at the highest level – with Indian Prime Minister Shri Narendra Modi visiting the UAE twice in three years to take the relationship to a new level,” Sudhakar R. Rao, Chairman of Gemini Group, said.
“Both the countries are currently building up a US$75 billion fund that will be used for the infrastructure development in India and mostly funded by the UAE. We are happy to play our part in bringing the people, resources and wealth of both the countries much closer to create a win-win situation,”, Sudhakar added
Indian nationals are expected to remain at the forefront of the a three-day Dubai Property Show in Mumbai – where Gemini Property Developers is launching a variety of discount offers for Indian buyers. The company will showcase its maiden project, the Dh300 million Splendor at Mohammed Bin Rashid (MBR) City, which has been recently completed and being handed over to property buyers. Gemini is offering a lucrative rental guarantee for Indian property buyers.
“India is a strategically important investor base for the UAE due to several reasons. While warm bilateral relations between the UAE and India go back to decades, the current momentum is unprecedented. Foreign trade figures between the UAE and India rose from $182 million in 1982 to staggering $53 billion in 2017.” said Sunil Gomes, Chief Executive Officer of Gemini Property Developers.
“Investors in India regard Dubai based real estate options as lucrative and high yielding. The real estate market in Dubai is highly regulated, offers a very high return on investment, quality lifestyle, safe and close proximity to India. All these factors make Gemini’s properties attractive for investors,” he added.
“Our offer of discounts, rental guarantees and waiving the property registration fees are demonstration of our strong commitment to the Indian market and I believe, they will like our products and our current offer. Dubai real estate market offers a much higher and faster rental yield varying between 5-8 percent, which is hard to beat.”
Gemini have already started handing over its maiden Splendor project with first residents already moved-in. The G+8-storey Splendor residential building spans over a built-up area of over 320,000 square feet, which includes 134 residential units comprising spacious one, two and three-bedroom apartments, penthouses and townhouses equipped with state-of-the-art amenities.
Besides the completed Splendor project, Gemini Property Developers are showcasing upcoming G+29-storey Symphony residential project, the high-end project at Dubai’s Business Bay area, in close proximity to iconic Burj Khalifa, the Dubai Mall, the Dancing Fountain and host of other tourist attractions.
Symphony’s ground-breaking has already been completed and marks the beginning of the construction of the project that is estimated for completion before the historic Expo 2020, which begins in October 20, 2020.
Dubai Property Show could help more and more people buy residential properties for their stay as well as investment purpose.
Indian Investment in Dubai’s Real Estate
2013 Dh17.93 billion
2014 Dh18.12 billion
2015 Dh20 billion
2016 Dh12 billion
2017 Dh15.6 billion
Total Dh83.65 billion