ANAROCK Launches Dedicated Operations In Abu Dhabi
To expand next into Oman, Bahrain, Saudi Arabia and Kuwait
- More than 50% of NRIs living and working in the UAE have interest in Indian realty; top investment cities are Bangalore, Mumbai, Delhi NCR, Hyderabad, Chennai & Kochi
- In ANAROCK’s Consumer Sentiment Survey, NRIs from the GCC countries comprised maximum share with 36% (followed by 23% from Western Europe, 22% in Asia and 19% in North America)
- NRI investors have a higher appetite for under-construction properties than resident Indians; higher focus on investment for ROI rather than on end-use
Abu Dhabi, 5 March 2019: Marking the next step on its international expansion agenda, ANAROCK Property Consultants has announced the launch of its dedicated office in Abu Dhabi, the high-profile capital of the United Arab Emirates (UAE).
ANAROCK Abu Dhabi is the Firm’s second operational base in the UAE after launching operations in Dubai in 2017.
“We are in aggressive expansion mode in this key market.
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Anuj Puri, Chairman – ANAROCK Property Consultants
The Indian real estate sector evokes a lot of interest from NRI investors.
This interest is driven by long-term fundamentals such as emotional connect, safeguarding retirement plans, better returns and yield on investments, and depreciation in the rupee’s value.
While there are around 30 million NRIs across different countries, investment into Indian real estate is led by NRIs from UAE, USA and Saudi Arabia.
From 2000 to 2014, NRI investments in Indian real estate reached substantial levels ranging between 10-18% annually. However, when the residential market began to slow down in 2015, the NRI investment fervour into this asset class began to cool off a bit.
To top it off, there was a slew of reforms and policy changes such as demonetization, RERA and GST, the combined effect of these being a decrease in NRIs’ investment in the sector.
The highest impact was in the residential real estate market – which, for a long time, was the primary focus of NRI investors with their interest skewing towards apartments and villas, followed by plots and other property typologies.
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