Indians are top property buyers in Dubai; invested Rs 42,000-cr in 6 months

Agencies
October 27, 2017

New Delhi, Oct 27: Indians invested  Rs 42,000 crore between January 2016 to June 2017 to buy immovable properties in Dubai, thus becoming biggest foreign property buyers in the Emirates again..

According to the Dubai Land Department, the property purchase has seen an increase of Rs 12,000 crore from 2014.

In yet another report, the Dubai Land Department had last month said that etween December 2015 and June 2017, overseas investors put up as much as 41 billion to purchase property in the Emirates.

Indians topped the list of foreign investors with USD 5.6 billion, followed by Saudis who pumped in USD 3.4 billion.

Sales of properties in Dubai rose rapidly in the years after the market was opened to foreigners in 2002.

Prices soared as investors piled in, but when the global financial crisis hit the debt-laden emirate in 2009, it sent them into free-fall.

A recovery led by tourism, trade and transportation pushed prices up again between 2012 and 2014.

But in 2014, a glut in oil production slapped down the price of crude, hitting the Gulf economies that underpin Dubai's real estate sector.

Prices for homes in Dubai have since dropped by over 15 per cent and rents have fallen even more.

Earlier this month, a report by Knight Frank India and the International Real Estate Expo (IREX)  said that most Indians buy homes abroad for investment purposes followed by the aspiration of having a second home.

Sixty-three percent of the resident Indian buyers preferred compact apartments of less than 1,500 sq ft.

The report said that property overseas became affordable in 2016-17 due to strengthening of the rupee compared to the previous fiscal, when buyers had invested USD 88.4 million.

Approximately 77 percent of the Indian buyers prefer a property that is less than USD 1 million, the report said.

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News Network
June 26,2020

New Delhi, Jun 26: "Iam Indira Gandhi's granddaughter, not an undeclared BJP spokesperson like some of the opposition leaders," Congress general secretary Priyanka Gandhi Vadra on Friday said, as she alleged that the Uttar Pradesh government is threatening her through various departments for speaking the truth. Priyanka Gandhi's dare to the Uttar Pradesh government came days after the Agra administration asked her to withdraw within 24 hours the claim of high coronavirus deaths in the district.

The Congress general secretary in-charge UP East has accused the Yogi Adityanath government of indulging in propaganda instead of dealing with the pandemic. "As a public servant, my duty is towards the people of Uttar Pradesh. And this duty is to put out the truth before them and not to put forth government propaganda. The UP government is wasting its time by threatening me through its various departments," Priyanka Gandhi said in a tweet in Hindi.

"They can take whatever action they want, I will keep putting forth the truth. I am Indira Gandhi's granddaughter not an undeclared BJP spokesperson like some of the opposition leaders," she said. This week, Priyanka Gandhi repeatedly attacked the Uttar Pradesh government over the "high" COVID-19 mortality rate in Agra and on other issues related to the state government's handling of the pandemic.

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News Network
May 4,2020

Mangaluru, May 4: In line with the directive of the Deputy Commissioner against opening textile shops even after the relaxation of lockdown, it has been decided to continue the closure of all textile shops in Hampankatta area of Mangaluru until the end of the blessed Ramadan, President of KTA Youth Forum said on Monday.

Pointing out that several rumours were doing the rounds in social media on the opening of textile shops in the wake of Eid, the owners of textile shops met on Monday morning and unanimously decided against opening the shops. The association said the local MLA has also been consulted on the issue.

KTA Youth Forum is an organisation of owners of shops at Kunil Centre in Tokyo Market and Akbar Complex here, mostly comprising of Muslims.

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coastaldigest.com news network
May 26,2020

Bengaluru, May 26: The Karnataka government today resolved to continue with the online method of education as a new normal in the field of higher education. 

Holding the review of the Higher Education department, Chief Minister B S Yediyurappa expressed interest in providing online education to students in higher educational institutes.

Yediyurappa directed the officials to look into the possibilities of extending online education from as early as Pre-University level so that the new method can easily be followed as they scale up the academic career. 

Keeping in mind the less expenditure and online teaching being cost-effective, Yediyurappa said, “If you compare online teaching with the regular classroom teaching, it is not only cost-effective but also helps in savings in terms of resources. Officials must look into the new method and start introducing it as early as PU classes.”

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