NRIs urged to invest in property business

Published: February 9, 2009

MANAMA: Indians should turn the present financial crisis to their advantage by investing in the real estate business back home, says a leading Bahrain businessman.

With property prices and rents spiraling in the Gulf and the Indian rupee depreciating, Indian real estate developers are actively promoting their products among expatriate Indians, including those in Bahrain.

“Despite the global economic crisis the Indian real estate market is still booming,” said Bahrain-based AGT Publicity and Advertising director G K Nair, whose company is the chief organiser of Bahrain’s largest Indian property expo.

“This is the right time to invest to take advantage of the present economic recession. Also due to the depreciation of the rupee, it is the best time for Indians in Bahrain to invest their disposable income in real estate back home.”

Mr Nair was speaking at a Press conference  to announce the Homes of India exhibition, to be held for the third year in Bahrain. Also present at the Delmon International Hotel were co-organisers T M Haridas and G K Rosemarrie.

The exhibition will open from 5pm to 10pm next Thursday at the Bahrain Keraleeya Samajam in Segaiya. It will also be open from 10am to 9pm on February 13 and 14 at the same venue.

The expo, jointly organised by Bahrain-based AGT Publicity and Advertising and Studioline Conventions, Bangalore, will showcase projects by more than 30 builders from various parts of India including Bangalore, Mumbai, Delhi, Pune, Hyderabad, Chennai, Goa, Jaipur and Kerala.

“People buy a second or third home not to live in, but as an investment opportunity in the fastest growing real estate market of the world,” Mr Nair said. Leading Indian banks, including the State Bank of India, have also been brought in to offer finance options to prospective buyers.

Source: Gulf Daily News

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