Damac set to invest $5 bn
Source: The Financial Express
Damac Properties, the largest private sector developer in the Middle East, has firmed up plans to invest over $5 billion (Rs 19,700 crore) over the next three to five years in In-dia's burgeoning real estate market. The company has already initiated talks with Indian companies for a joint venture to pursue its investment plan. In order to drum up interest in the group and its iconic projects, Damac will hold roadshows across India. Mumbai hosts the roadshow between February 14 and 20.
Damac, which plans to build residences, offices and shops in Mumbai, New Delhi, Hyderabad and Bangalore, will fund its proposed investments in India through internal resources. The company also hopes to attract Indian investors to its projects in the Middle East.
Hussain Sajwani, founder & chairman, Damac Holding, said: "Through these roadshows, we also aim to educate our audience in India about our brand personality and the quality of our projects. The Indian real estate market is expected to touch the $50-billion mark by 2010 and is a very important market for Damac Properties."
Sajwani said the response from previous events was very promising. "Our impressive project portfolio includes some of the most innovative and luxurious developments in the Middle East," he noted.
The company's portfolio includes properties spread across 500 million square feet in various countries, worth in excess of $30 billion.
Damac Properties, the largest private sector developer in the Middle East, has firmed up plans to invest over $5 billion (Rs 19,700 crore) over the next three to five years in In-dia's burgeoning real estate market. The company has already initiated talks with Indian companies for a joint venture to pursue its investment plan. In order to drum up interest in the group and its iconic projects, Damac will hold roadshows across India. Mumbai hosts the roadshow between February 14 and 20.
Damac, which plans to build residences, offices and shops in Mumbai, New Delhi, Hyderabad and Bangalore, will fund its proposed investments in India through internal resources. The company also hopes to attract Indian investors to its projects in the Middle East.
Hussain Sajwani, founder & chairman, Damac Holding, said: "Through these roadshows, we also aim to educate our audience in India about our brand personality and the quality of our projects. The Indian real estate market is expected to touch the $50-billion mark by 2010 and is a very important market for Damac Properties."
Sajwani said the response from previous events was very promising. "Our impressive project portfolio includes some of the most innovative and luxurious developments in the Middle East," he noted.
The company's portfolio includes properties spread across 500 million square feet in various countries, worth in excess of $30 billion.
Everyone wants to buy property in Pune because of good infrastructure and better flats. Pune is developing very faster than any other city of India. These days the demand or Pune property has increased.
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