Indian real estate firm Indiabulls Ltd. aims at opening offices in the UAE.  The real estate group has declared the launch of their first overseas office in the United Arab Emirates region.

Indian real estate firm targets Indiabulls Real Estate Ltd. is all set to start their maiden overseas office in the UAE. The real estate firm has so far developed nearly 3.3 million sq. ft. of area at an estimated cost $1.75bn. The past four years witnessed a tremendous growth of the firm.

The company officials revealed that the company aims to help the UAE NRIs purchase and invest on real estate property wisely. The local representative office will boost their real estate investment in fact.

The real estate firm expects to furnish the rising interest and demands of the UAE NRIs. The real estate firm also has plans to run offices in Qatar, Saudi Arabia and Bahrain other Gulf Cooperation Countries-(GCC).

Indiabulls Ltd has diverse real estate development projects across the country. The company has successfully developed some prominent townships and residential projects, commercial centers and shopping malls. The company’s service is expanded to building hotels and infrastructure development.

Most of the Indiabulls projects are in the National Capital (NCR) and Mumbai Metropolitan (MMR) regions. Besides their projects in Delhi, Mumbai, the group has projects in Chennai too.

Indiabulls’ MENA regional head, Mr. Santosh Tandel told that the group’s business is mainly fostered by NRIs who purchase nearly 25-30 % of total business of the group. He added further that most of their clients are Gulf NRIs.

UAE NRIs have always shown their higher inclination to real estate investment. Majority of them invest on properties in India, their motherland.

Real estate firm’s decision to begin an office in the UAE is mainly aimed at the higher Indian population residing there. It is estimated that Indian- NRIs form nearly half of the total UAE population.

By entering into an agreement with Qatar’s Doha Bank, Indiabulls Group help the Indian NRIs in UAE, attain loans for acquiring properties in India. Qatar’s Doha Bank offer mortgage loans to its NRI customers.

The firm’s act should be seen as a means to create profit from the NRI investment which supports the sluggish real estate market of India. The fall of Indian rupee invited more NRI investment particularly from the UAE and other Gulf -based NRIs.