JUMEIRAH GOLF ESTATES FORMS INDIAN PARTNERSHIPS TO BOOST STRATEGIC SALES DRIVE
Dubai, 22nd February , 2016 -
- Residential golf community ties up with SPF Realty – with in-market promotions planned with key investors on 27th of February in New Delhi
- The Dubai real estate developer extends its passion for golf to the Indian market through partnering with Hero Indian Open on 17-20 March 2016
Jumeirah Golf Estates, host to the DP World Tour Championship and one of the Middle East’s most prestigious residential golf communities, announced today a series of partnerships with leading Indian organisations, to leverage a new UAE-Indian commitment to increase trade by 60 per cent in five years, whilst boosting investment.
Underlining its focus on the Indian market, Jumeirah Golf Estates has entered two partnerships, following a successful debut to the Indian market during the Dubai Property Show held in Mumbai last November.
The real estate development has tied up with SPF Realty, an award winning SME100 Indian real estate agency, to boost awareness of the community among a captive audience of Indian real estate investors seeking to globalize their property portfolios – with a focus on the UAE. SPF Realty is set to host a private event in New Delhi on the 27th of February 2016 to showcase three of Jumeirah Golf Estates’ key developments.
“We see huge potential in the Indian market and we look forward to meeting discerning buyers from New Delhi, who are well aware of the benefits that owning property in Dubai offers, not only in terms of returns on investment, but also in terms of quality of life. We are confident that SPF Realty, with its reach amongst the Indian investment community, is the right partner to target customers from this country looking for world-class property options, whether it is a one bedroom apartment or a six bedroom villa”, commented Yousuf Kazim, CEO of Jumeirah Golf Estates.
Extending its passion for golf to an international audience, Jumeirah Golf Estates is now also an official partner of the Hero Indian Open, the oldest international event in India, which is set to return to the prestigious and historic Delhi Golf Club from March 17-20, 2016.
The four-day tournament will see Jumeirah Golf Estates exhibit at the spectators’ village, with golf fans able to learn more about the newest developments available for purchase at Jumeirah Golf Estates, including 47 individually designed five and six-bedroom villas in Redwood Avenue; 75 three to four-bedroom townhouses in Redwood Park; and 674 affordable luxury apartments and 54 townhouses in Alandalus [detailed in Notes to Editor].
“The Hero Indian Open is a perfect platform for prospective Indian investors to explore Jumeirah Golf Estates’ residential and golf offering in Dubai, during the oldest and most prestigious gatherings of sports enthusiasts in India,” continued Kazim.
In the recent years, Indians have emerged as the largest group of investors in the Dubai property market. During 2015 it was estimated that Indian investment in Dubai’s property market was almost twice that of the next biggest investor – the United Kingdom. Real estate investors from India have shown a marked preference for properties in Dubai, owing to its close proximity to India, as well as the rationalising of property prices in the region, and the enhanced purchase procedures in Dubai.
“As one of the few places in Dubai to be surrounded by nature, our properties provide an unforgettable experience for golfers with two world-class Greg Norman-designed golf courses, as well as residents seeking quality, luxury homes and a peaceful setting within easy reach of Dubai’s top attractions,” added Yousuf Kazim.
Dubai’s property market has recently benefited from the Reserve Bank of India’s move to increase the amount Indians can invest or spend abroad in foreign exchange without seeking its permission. The bank now allows Indians to buy property abroad, hold shares or debt instruments, or any other assets or purchase gifts up to limit of $250,000 (Dhs 917,500) per person per year.
The market fundamentals in Dubai remain strong with enhanced transparency, despite the changing market dynamics. Some key attractive points are Escrow account linked payments ensuring security and peace of mind; one of the lowest prices per square foot in the world; and tax-free capital gains or rental yields in the range of 6-7 percent.