India Giant grows in the GCC

Indiabulls, an Indian real estate conglomerate, is growing in the GCC, less than a year after opening its first office there in Dubai.

To raise its profile for financing and development in the region, the company says it will open offices in Bahrain and Saudi Arabia by the end of the year.

Santosh Tandel, the company’s head of the MENA region, stated that there has been an increase in demand from Indians living abroad for home loans and property purchases. “Due to our widespread presence in India, the NRI community has shown tremendous interest in Indiabulls’ housing projects.”

Doha Bank and the company already have a formalized financing arrangement that was made last year. The alliance provides mortgage loans to foreign clients who want to buy homes in India. Similar partnerships exist between the company and financial institutions in Kuwait, Oman, and the United Arab Emirates.

Our goal is to provide comprehensive solutions to the expatriate market, including financial and investment options, said Mr. Tandel. The goal is to connect with customers and provide ease in dealing and decision-making.

Favorable exchange rates brought about by the rupee’s decline have caused a surge in remittances from Indians living abroad.