Al Fajer Properties eyes India real estate through JV

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Al Fajer Properties , one of the leading realty developers from Dubai, today announced its India investment strategy which will include developing world-class realty projects in India through a joint venture and creating a real estate fund to facilitate investments by small investors in Dubai properties.

 

The announcement follows its successful participation in the recently concluded Asian Real Estate Show in New Delhi. "We are convinced that there is ample opportunity for us to support healthy cross-border investments between the two countries both by developing projects in India through a joint venture, as well as by facilitating Indian small investors buy into high-yielding Dubai properties," Dr. Shahram Abdullah Zadeh, Chief Executive Officer of Al Fajer Properties.

 

He said Al Fajer Properties will enter the Indian realty market with an outlook to develop three types of projects including commercial, gated residential community and townships.

 

Dr. Shahram said the Al Fajer is in talks with two leading real estate developers in India and the joint venture will be finalised soon.

 

"We have been monitoring the Indian real estate and investment scenario for over two years now. Despite the current price fluctuations in the real estate  and property prices, our decision to enter this growth market is driven by our confidence in the strong economic fundamentals of India," he said.

 

 "We have looked at several locations - Gurgaon, Hyderabad, Gujarat, Mumbai and Chandigarh - for investments up to US$1 billion through a joint venture. We will be entering the Indian market once the joint venture deal is finalised with the right project at the right time," he added. 

 

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