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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
March 21,2020

Mangaluru, Mar 21: The management of Ibrahim Khaleel mosque here on Saturday has decided to temporarily suspend all the prayers inside the mosque premises as a precautionary measure in view of Corona Virus which is spreading like wildfire in the State.

In an official note, the management urged people to remain safe and to pray at home adding that Jumuah, daily prayers and all the other events at the mosques were cancelled temporarily until further notice.

“This is an unavoidable move to save the lives from the infections of deadly Coronavirus” the note added on Saturday.

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News Network
March 12,2020

Hassan, Mar 13: In what could have been a major tragedy, an under construction flyover across Hassan-Mangaluru railway level crossing, near the new KSRTC Bus stand here collapsed today.

Fortunately no casualties occurred despite six concrete beems of 50 feet height, collapsed and broke into pieces.

The much awaited project was completely neglected by the successive governments for over a decade due to politics.  It was sanctioned eight months ago.

The Rs 42 crore project was taken up by a joint venture between state, center and South Eastern railway. The contractor or the Engineer were not present when the incident occurred.

Blaming the contractor, the locals alleged that poor quality of work led to the incident. No contractor or engineer was present even during construction, they added. Siddaiah, who runs an eatery near KSRTC bus stand said that it could have been a major tragedy if people were underneath the flyover when it crashed. The incident should be probe and the contractor should be punished, he added.

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coastaldigest.com news network
July 31,2020

Mangaluru, July 31: Coronavirus related deaths in Dakshina Kannada continued to surge, with the district administration recording five more fatalities in a day, thus taking the tally to 155.

The district has recorded multiple deaths every day from July 1 to 31. A majority of the deaths are due to comorbid conditions.

Among the five deaths reported today, a 47-year-old man from Mangaluru, was admitted to private hospital on July 30, and breathed his last on the same day. He was suffering from ARDS, Type 1 respiratory failure, COPD, Type II DM, HTN and died due to cardiac arrest.

Another patient was a 75-year-old man from Bantwal, who was admitted to a private hospital on July 23, and passed away on July 30. He was suffering from acute coronary syndrome, pneumonia (ARDS), metabolic encephalopathy, acute kidney injury, systemic hypertension, and type 2 diabetes mellitus.

The third patient was a 63-year-old man from Mangaluru, who was admitted to a private hospital on July 18, and passed away on July 30. He was suffering from ARDS, septic shock, renal failure, and secondary bacterial infection.

The fourth patient was an 88-year-old woman from Davanagere, who was admitted to a private hospital on July 9, and passed away on July 30. She was suffering from septic shock, and secondary bacterial infection.

The fifth patient was a 75-year-old man from Mangaluru. He was admitted to Wenlock hospital on July 15, and passed away on July 30. He was suffering from refractory ARDS, septic shock, renal failure, acute coronary event, arrhythmias, pulmonary thromboembolism, and hemoperitoneum.

The district administration said that though the above patients contracted coronavirus, the exact cause of their deaths is being investigated by a team of experts and their report is awaited.

On the other hand, Dakshina Kannada district recorded a total of 204 fresh cases, taking the tally to 5,713. Among the 204 new cases are 75 primary contacts, 63 with influenza-like illness (ILI), and 14 with severe acute respiratory illness (SARI). As many as 52 cases are under investigation. As many as 70 patients were discharged on Friday from Wenlock as well as private hospitals.

As per the district health bulletin, a total of 40,706 samples have been tested so far and 34,993 out of them have tested negative. Among the 5,713 positive cases reported in the district, only 2,929 are currently active. As many as 2,631 persons have recovered and been discharged.

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