Thank you India! UAE office space demand soars

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Dubai Indian business peopleEvery year, India inches closer to becoming a major global economic power. Its economy, according to an International Monetary Fund forecast, will grow by 7.5 per cent in the 2015-16 fiscal year, up from 7.2 per cent in 2014–15.

By Shehryar Qureshi

And Indians are not far behind themselves.

The last two years have seen a considerable rise in Indians’ intent of doing business in the UAE. Insiders say the Dubai Expo 2020 is the major pull factor contributing to the trend, but believe a resurgent UAE economy and a renewed trust in the real estate sector is a sizeable driver as well.

According to the data obtained by Bayut.com, the UAE’s largest real estate portal, interest among Indians looking to buy office space in the UAE has gone up by 2.65 per cent over the last two years.

This is a welcome sign, as of the total searches conducted by prospective Indians on the UAE real estate market in 2013, a meagre 0.72 per cent related to the hunt for office spaces. However, that figure shot up to 3.37 per cent by the end of 2014, a healthy rise of 2.65 percentage points.

According to the data available with Bayut.com, the same search index jumped to 4.65 per cent in the first quarter of year 2015, exhibiting yet another upwards trajectory. But that is not all.

A further analysis into the rental office space market of the UAE revealed some astonishing results.

Of all Indians who considered the UAE real estate market as their top choice for investment in 2013, a mere 3.94 per cent searched for rental office spaces. But come 2014, the figure soared to a hefty 15.72 per cent of the total searches conducted across the year. The same index maintained a solid footing at the start of 2015 as well.

The signs are surely a plus for the UAE real estate sector that is banking on renewed foreigners’ interest to achieve stability. Let’s hope the rupee keeps rolling.

 

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Every year, India inches closer to becoming a major global economic power. Its economy, according to an International Monetary Fund forecast, will grow by 7.5 per cent in the 2015-16 fiscal year, up from 7.2 per cent in 2014–15. By Shehryar Qureshi And Indians are not far behind themselves. The last two years have seen a considerable rise in Indians’ intent of doing business in the UAE. Insiders say the Dubai Expo 2020 is the major pull factor contributing to the trend, but believe a resurgent UAE economy and a renewed trust in the real estate sector is a sizeable...

Reading Time: 2 minutes

Dubai Indian business peopleEvery year, India inches closer to becoming a major global economic power. Its economy, according to an International Monetary Fund forecast, will grow by 7.5 per cent in the 2015-16 fiscal year, up from 7.2 per cent in 2014–15.

By Shehryar Qureshi

And Indians are not far behind themselves.

The last two years have seen a considerable rise in Indians’ intent of doing business in the UAE. Insiders say the Dubai Expo 2020 is the major pull factor contributing to the trend, but believe a resurgent UAE economy and a renewed trust in the real estate sector is a sizeable driver as well.

According to the data obtained by Bayut.com, the UAE’s largest real estate portal, interest among Indians looking to buy office space in the UAE has gone up by 2.65 per cent over the last two years.

This is a welcome sign, as of the total searches conducted by prospective Indians on the UAE real estate market in 2013, a meagre 0.72 per cent related to the hunt for office spaces. However, that figure shot up to 3.37 per cent by the end of 2014, a healthy rise of 2.65 percentage points.

According to the data available with Bayut.com, the same search index jumped to 4.65 per cent in the first quarter of year 2015, exhibiting yet another upwards trajectory. But that is not all.

A further analysis into the rental office space market of the UAE revealed some astonishing results.

Of all Indians who considered the UAE real estate market as their top choice for investment in 2013, a mere 3.94 per cent searched for rental office spaces. But come 2014, the figure soared to a hefty 15.72 per cent of the total searches conducted across the year. The same index maintained a solid footing at the start of 2015 as well.

The signs are surely a plus for the UAE real estate sector that is banking on renewed foreigners’ interest to achieve stability. Let’s hope the rupee keeps rolling.

 

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