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NRI Investors Eying Kerala Smart City Investments through IREIS 2014 [New Vision (Uganda)](New Vision (Uganda) Via Acquire Media NewsEdge) Kerala's ambitious information technology business township projectSmart City Kochi (SKC), has received environmental clearance for the entire project covering 246 acres even as the construction of its first IT building is nearing completion. Environmental clearance for SKC will boost up the real estate sector and attract more international investments to the region. This will warm up the current sluggish trend and demand for properties will increase to boost up new developments and investment opportunities. SCK will develop no less than 8.8 million sq. ft. of built-up area with substantial extent of land area being left for greenery and open spaces, to house Information and Communication Technology, Media, Finance and Research & Innovation clusters, attracting companies from within India and from abroad SCK has entered into agreements for joint developments with leading IT, hospitality, realty and education companies, to make the hub into an integrated township with facilities for stay, work and play. Keralites constitute almost 50 per centof over 2.2 million Indian diaspora living in the UAE, of whom 437,000 live in Abu Dhabi. Kerala based builders and property developers continue toeyepotential customers from the GCC countries with remittancesfrom the community recordingAED43.79 billion in 2013, according to a report publishedin mid-September 2014 bythe Centre for Development Studies (CDS), a Kerala-based social science research institution. Dony Cyril, Exhibitions Directorof IREIS 2014, said: India's most beautiful state, Kerala has always been the tourist's prime choice and now the Smart City clearances will create a new boom in the Kerala Real Estate Market. Abu Dhabi Customers were travelling to Dubai to witness good Kerala projects. For the first time in the history of Abu Dhabi, we are bringing all the leading developers to Abu Dhabi to facilitate the best property investment opportunities to Keralites. Q4 will be the right time to invest in Kerala residential and commercial propertymarket as prices are less, exchange rates are high and the market started revivals due to SKC approvals and options are more due to multitude of residential projects, which are already on the development track.Builders in Kerala have geared up to offer exclusive offers to Keralites. In this new trend, investments in Kerala real estate promise high returns in the wake of upcoming constructions. Kerala, emerging as one of the progressive states thus beckons the prospective investors from all walks of life. In recent years, real estate sector has emerged as a safest investment for many of these expatriates, who want to save part of their additional income to support families when they return from the Gulf for good and face lack of resources to lead a decent life. The depreciation of the Indian rupee against the US dollar has also made the property market in Kerala an attractive option for the UAE based Non - Resident Keralite. Cyril continued: High population density is one of the major reasons among steady increase of property prices in Kerala. According to a recently published statistical report, the total availability of land, per person, in Kerala is getting lowered every year, which means only very little land is now available for housing as well as the tremendously huge developments that are anticipated for the coming years. This is one of the main reasons behind the ever increasing property prices in Kerala. With the entire real estate sector exploding with growth every year, and housing prices increasing manifolds, property in Kerala is one of the best options to invest your hard earned money, so that you can reap good profits within a very short time span. He added: Our market research study has shown that 18 per centof the Keralites living Abu Dhabi are looking to invest in property sector within oneyear.Therefore, the event will be a unique opportunity for developers to target those potential buyers, as well as convinceothers about the advantages of investing their hardly earned money back home by offering goods discounts amid weakening Indian currency. Unlike many other Kerala-specific property events taking place in the UAE and across the region, which are often held at five star hotels by individual developers, IREIS will gather Kerala's best developers under one umbrella providing an excellent opportunity for Keralite expatriates to directly meet builders and negotiate prices and close deals. Set to run from 20 to 22 November at the Abu Dhabi National Exhibition Centre (ADNEC), IRIES 2014 will host a dedicated pavilion to showcase property investment opportunities in Kerala and facilitate transactions for the one million-strong Keralite community in the UAE. The pavilion will feature 30 leading Kerala developers and expecting 2,000 HNW Kerala visitors. The sixth edition of International Real Estate and Investment Show (IREIS 2014), the only dedicated real estate event that targets investors and end-users rather than trade visitors, will woo the UAE-based Keralites, natives of Southern Indian state of Kerala, to invest in the promising real estate sector back in their home state. IREIS 2014 is anticipated to attract nearly 15,000 visitors and more than 100 exhibitors from over 30 countries, including the UAE, India, Pakistan, Egypt, Jordan, Cyprus, Turkey, Vietnam, Thailand, Portugal, Azerbaijan, Serbia and Algeria, among others. The event will gather key investors, developers, financiers, property advisors, real estate consultants, architects, as well as regional and international investment promotion authorities related to the real estate sector. The definitive property show is set to host a number of associated initiatives including an international conference, country-specific presentations, business networking meetings and investor exchanges. DOME Exhibitions, organisers of IREIS 2014, hosts exhibitions in the emirate of Abu Dhabi and helps businesses in the UAE to extend their reach and enhance their visibility in the global marketplace. Antoine Georges, Managing Director at Dome Exhibitions said: The key objective of the event is to facilitate and enhance property transactions in Abu Dhabi and major international markets given the UAE's appeal as a leading destination for large numbers of expatriates from all over the world. As the leading investor and end user-centric property event, IREIS will offer a wide selection of properties at different price ranges in key international markets. COPYRIGHT (c) 2014 NEWVISION. ALL RIGHTS RESERVED. Provided by SyndiGate Media Inc. (Syndigate.info). |