Business | Property

Property Tech buys Indian real estate for Dh110m

Property Tech, a subsidiary of Tech Group, has purchased two properties in India worth around Dh110 million as part of its plans to tap into new promising markets.

  • Staff Report
  • Published: 00:05 April 7, 2008
  • Gulf News

Dubai: Property Tech, a subsidiary of Tech Group, has purchased two properties in India worth around Dh110 million as part of its plans to tap into new promising markets.

"The deal fits within the group's ambitious strategy to capitalise on highly promising property markets," said Ali Ghalib Jaber, Tech Group CEO, singling out his group's plans to access the Turkish market.

"India is one of the world's fastest growing real estate markets, and having a foothold there means that we can gain ground with Indian investors."

Real estate in India has seen a boom after the government of India opened up the construction sector in 2006, allowed 100 per cent foreign direct investment.

The country is, however, in need of further incentives to ensure more flexibility in the construction sector and meet its financing needs, estimated at $350 billion, Jaber said.

  • Rate this article
  • Average reader rating (0 votes) 0 Stars
Tools

Emailing an article to friend is a simple way to share a news item. Your friend will receive an email with your name and email address as well any personal message you choose to send.

The information you provide on this page will not be used to send unsolicited emails.

This service is not intended to encourage spam, and action may be taken against individuals who maliciously enter personal details of another individual.

Share this article

Property

Gulf News
Gulf News classifieds
  5. Browse all jobs
  5. Browse all cars
  6. Browse all properties
  5. Browse all classifieds
Popular in Business
Business Editor's choice
Abu Dhabi's infrastructure spending
UAE

Abu Dhabi's infrastructure spending

New road networks to reignite construction sector.

Popular in GNTV
Popular in Pictures