UAE-based Al Fajer properties eyes Indian real estate

Hyderabad, May 2 (UNI) Al Fajer Properties, leading realty developers from Dubai, announced its India investment strategy which would include developing world-class realty projects through a joint venture (JV) and creating real estate fund to facilitate investments by small investors in Dubai properties.

In a statement, Al Fajer Properties Chief Executive Officer Shahram Abdullah Zadeh said, ''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 JV, as well as by facilitating Indian small investors buy high-yielding Dubai properties.'' He said the Al Fajer Properties would enter the Indian realty market with an outlok to develop three types of projects, including commercial, gated residential community and townships, and the company was in talks with two leading real estate developers in India and the joint venture would be finalised soon.

He said the company had looked at several locations, including, Gurgaon, Hyderabad, Gujarat, Mumbai and Chandigarh, for investments up to one billion US dollar through a JV.

This announcement followed its successful participation in the recently-concluded Asian Real Estate Show in New Delhi, he said.

UNI