Top five developers to check out at Mumbai's Dubai Property Show 2017
High-profile developers such as Bloom Properties and Deyaar Development will showcase their Dubai projects at the exhibition, due to begin in Mumbai on 3 November
Dubai's developers are set to showcase their property offerings in Mumbai this week in a bid to expand their investor base.
Now in its third year, the Mumbai-based property show generated $326.7m (AED1.2bn) worth of inquiries last year, attracting more than 4,000 international high-net worth investors.
Business activity between the UAE and India has typically been positive, and both countries were recently also involved in the formation of the NRI-Emirati Investors Group.
The investment vehicle, which committed to raise $1bn (AED3.67bn) for big-ticket projects in India, was launched by the Business Leaders Forum (BLF), an organisation that is supported by the UAE Ministry of Economy and the Government of India.
At the India-UAE Partnership Summit (IUPS) held in October, representatives discussed how projects in Indian states could be financed and completed with the participation of UAE businesses.
In what may be seen as an extension of the relationship between both trading nations, top developers from the UAE are now set to exhibit their products at the Dubai Property Show, to be held in Mumbai between 3 and 5 November, 2017.
The following pages outline the projects that each development company will exhibit at the show, as well as their expansion strategies for India.
In a statement this October, Dubai-headquartered Deyaar Development said that it would showcase its projects at the Mumbai event, as well as offering exclusive deals to attendees.
Nasser Amer, sales vice president of Deyaar, commented: "Investors in India are keen on Dubai-based properties, as we have noticed significant interest over the past three years, making this event the ideal platform to showcase our property portfolio.
"At this year’s event, we are pleased to offer our buyers the chance to visit their new property in Dubai, with complimentary flights plus two nights in a hotel, so they can experience our show apartments first-hand.
"Over the course of the last year we have built our brand in India, and we look forward to speaking with the discerning investors and buyers that we will be meeting throughout the show."
The deals that the developer will be offering interested property buyers at the show include waived Dubai Land Department fees for The Atria, mortgaged financing for its Midtown development, and flexible payment plans for both properties, among others.
Located in Business Bay, The Atria comprises a four-star hotel apartment building and 219-unit residential tower. It is expected to be ready for handover by the end of this year, according to Deyaar.
The newly launched District One Residences will be showcased at Dubai Property Show in Mumbai, with its developers aiming to promote the project's waterfront features as a selling point for Indian investors.
Phase Three of Mohammed Bin Rashid Al Maktoum City – District One will feature one-, two-, and three-bedroom apartments, and will complement Phases One's and Two's villa developments.
Commenting on the project, and the company's participation in the show, PNC Menon, the group chairman and founder of India-headquartered Sobha Group, said: "Our participation in the Dubai Property Show in Mumbai is very important as it provides us with an opportunity to talk directly to a number of our investors and introduce the new apartment concept to potential buyers in India.
"The response to Phase Three has been very positive and we have seen there is a strong demand for low-rise apartment options in the heart of the city centre."
District One is situated next to the Meydan One development, which is touted to be home to the world's tallest residential tower, the world's tallest observation deck, and the world's longest indoor ski slope upon completion.
Dubai-based developer, Seven Tides, will showcase a selection of its Palm Jumeirah projects at the Mumbai show.
The firm will promote its Anantara The Palm Dubai Residences and the recently launched Seven Residences at the show, as well as the Anantara Sky Collection.
Around 76% of the total units at Anantara The Palm Dubai Residences have already been sold, and the remaining units consist of one- and two-bedroom apartments.
Meanwhile, Seven Residences, located next to Seven Tides' Dukes Dubai project on the Palm, comprises 1,066 units ranging from studio to three-bedroom apartments.
Commenting on the Mumbai's show's opportunities for UAE developers, Abdulla Bin Sulayem, the chief executive officer of Seven Tides, said: "This is a unique opportunity for Seven Tides to meet high net-worth investors and showcase our Palm Jumeirah projects.
"Palm Jumeirah continues to offer attractive returns as well as the ultimate upscale island lifestyle, and it is a fantastic addition to any investor portfolio.
"The choice of either an upmarket second home or hotel-managed apartment has resonated with the international investment community and allowed us to connect with a wider investor base that, when coupled with the extremely attractive return on investment potential, has fast-tracked interest and sales," Bin Sulayem added.
Abu Dhabi-headquartered Bloom Properties, which is building multiple projects in Dubai, has also confirmed its presence at the Mumbai show.
Part of Bloom Holding business, the development company will exhibit its Bloom Towers and Bloom Heights projects in Dubai's Jumeirah Village Circle (JVC) neighbourhood, as well as Abu Dhabi's Soho Square and Park View mixed-use developments, at the show.
Scheduled for completion in 2020, Bloom Towers will consist of three towers comprising a total of 944 residential units.
The two towers allocated for sale will comprise 689 contemporary studio and one-bedroom apartments.
Bloom Heights will feature 686 units ranging from studio to three-bedroom apartments, and is due for completion in 2019.
At the event, Sameh Muhtadi, the chief executive officer of Bloom Holding, will pick up an award from Dubai Land Department, in recognition of his efforts towards Bloom Properties' success.
Commenting on the Bloom's participation in the event, and the company's international plans, Muhtadi said: "In the UAE real estate market, Bloom Properties is regarded as a reliable and trusted developer focused on the timely delivery of projects.
"We aim to leverage this long-standing reputation to attract more investors from international markets, such as India, China, and Saudi Arabia.
"As a home to 2.6 million-strong Indian diaspora, the UAE tops the list of popular destinations for Indians seeking lucrative long-term real estate investment opportunities.
"By participating in this event, we look forward to introducing our developments in the UAE to Indian investors, who continue to show keen interest in our offerings across the country," Muhtadi added.
Late in October, Nakheel confirmed it would participate in the Dubai Property Show, to be held in Mumbai this week.
In a press statement, Nakheel said it was "heading to India with a diverse range of investment opportunities and incentives" to attend the show for the third consecutive year.
The developer said it would offer "ready-to-move-into apartments, townhouses, and villas" at the show, with prices starting at $145,150 (AED533,000).
Nakheel said it would use the three-day event in Mumbai to "expand its already-robust portfolio of Indian investors, who currently account for more than one in 10 of customers".
These Indian investors have purchased 4,500 of Nakheel's properties or land plots, collectively worth more than $2.5bn (AED9bn), the press statement revealed.
Among the Nakheel projects on exhibit at the show will be The Palm Tower, a 52-floor luxury hotel and residential property in Palm Jumeirah.
Units of the developer's International City, Al Furjan, Azure Residences, and Jumeirah Islands Townhouses projects will also be showcased.
Commenting on the company's participation in the show, Ali Rashid Lootah, the chairman of Nakheel, said: "Dubai’s excellent transport and social infrastructure, strong demand for rental properties, regulations that allow foreigners to buy freely and strict policies that ensure that disputes are settled quickly and fairly, make it a magnet for real estate investors globally.
"It’s no wonder that Indians account for 11% of our investors.
"This show is the perfect opportunity for us to remind existing investors of Dubai’s unrivalled investment opportunities, and to capture the attention of new customers wanting to become part of the Dubai real estate success story."