Dubai has been the dream holiday and shopping destination for wealthy Indians for a long time. Dubai is known for its architectural achievements which can make anyone wonder in amazement.
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People get mesmerized by the city’s opulence. One speaks the word Dubai and the picture of Burj Khalifa, the tallest man-made tower in the world and The Burj Al Arab, the world’s only seven-star hotel build on an artificial island, floats in front of our eyes.
Dream Destination For Real Estate Investment
Dubai is now home to many Indians. Rich and affluent classes from India are purchasing their second home, holiday home in Dubai. According to the Dubai’s land department, almost 16 percent of total foreign investment in real estate came from Indians in the first half of 2012 and invested in lands, apartments, buildings and residential villas. Burj Khalifa is now home to many rich and famous Indians. What makes Dubai the dream home destination for so many Indians?
According to a survey report by Kotak Wealth Management and CRISIL, Indian billionaires and HNIs were the top investors in buying properties in most of the fanciest districts in the world.
The number of billionaires from India has increased significantly over past few years. The increasing globalization, comparable price valuation, and investment are the prime reason for the growing trend to purchase properties across the globe especially Dubai becoming the most favored location. Gone are the days when traveling was very expensive and any other country seemed very far.
Today’s HNIs are globe tottering citizens who go abroad for business and holidays as a very regular affair. So it makes very little difference in owning a second home or a holiday home abroad. At the same time, investment in the property market in a risk-free location is very attractive. Dubai is seen as a very fast growing nation and excellent growth potential.
According to the managing director of Harbor Real Estate, Mohannad Al Wadiya, Dubai has shown great flexibility in meeting the requirements and trends for foreign investors.
Conclusion
The other reason for Indians affluent lot to make Dubai as their second home is due to its close proximity to India and the presence of a large number of Indians working in Dubai
