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Dubai: Realty India Expo Dubai 2016, a property exhibition, will bring together builders from India when it opens on Friday.
The two-day event, which will take place at JW Marriott Hotel in Deira, will showcase more than 75 Indian builders, displaying location specific projects and projects from multiple cities like Chennai, Bangaluru, Pune, Delhi, Mumbai and Kerala, among others.
In India, real estate is the second largest employer after agriculture and is expected to grow by 30 per cent over the next decade, according to a statement on Wednesday from Mindscape Exhibitions, the exhibition’s organisers. The Indian real estate market has become one of the most preferred destinations in the Asia Pacific, as overseas funds accounted for more than 50 per cent of all investment activity in India in 2014, compared with 26 per cent in 2013.
The real estate sector comprises four sub sectors — housing, retail, hospitality, and commercial. The growth of this sector is complemented by the growth of the corporate environment and the demand for office space as well as urban and semiurban accommodations.
The construction industry ranks third among the 14 major sectors in terms of direct, indirect and induced effects in all sectors of the economy, according to the statement.
The sector is also expected to incur more non-resident Indian (NRI) investments in both the short term and the long term. Bengaluru is expected to be the most favoured property investment destination for NRIs, followed by Pune, Chennai, and Goa, among others.
Source: Staff Report, gulfnews.com