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Gulf Investors Still Positive towards Indian Marke
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Despite the current economic downturn, India's real estate is said to be worth about $16 billion and is estimated to post annual growth rate of 30 per cent to reach $60 billion by 2010 according to research outfit 'Çityscape Intelligence'. As a consequence a large contingent of regional real estate investors and developers are poised to descend on Cityscape India to further their long term ambitions in the sub-continent.
Graham Wood, Exhibition Director for Cityscape India said, "The internal demand for commercial and residential real estate in India is undeniable. The investment climate may be difficult but developers will benefit from lower land prices, lower material and labour costs. Providing that the finance is in place, many developments may be approaching completion after the downturn has bottomed-out."
Dubai-based Limitless is confident about the long term prospects of India's real estate sector. "India is currently facing a shortage of some 21 million homes, and more than 300 million people are expected to migrate to urban areas over the next 20 years. At Cityscape India, we will showcase 11 global projects including Bidadi - our proposed 4,000 hectare mixed-use development near Bangalore - which will house around 750,000 people," said Saeed Ahmed Saeed, CEO of Limitless.
In addition Mohamed Binbrek, Group Chief Executive Officer of Dubai Properties recently confirmed that the company hopes to expand its development projects into India.
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| 8. | Gulf Investors Still Positive towards Indian Marke - Delhi, India Nov 07, 2008 |
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