KUWAIT CITY, Dec 4: The Homes of India property exhibition opened at the Swiss Bel Plaza Hotel in Kuwait City. The exhibition runs for two days — Dec 4 and Dec 5, 2009. The exhibition which was inaugurated by the Indian Ambassador to Kuwait HE Ajai Malhotra showcases some of India’s reputed property developers representing a cross-section of real estate developments across India. From Faridabad in the North to Trivandrum and Kochi in the South, from Hosur in the East to Goa and Mumbai in the West, the spectrum of prime projects on offer at the exhibition cut a swathe across Indian real-estate. Speaking on the occasion, the ambassador said he was delighted that once again an Indian property exhibition is being held in Kuwait. “As you know, we have a large Indian expatriate community in Kuwait; in fact, it is the largest expatriate community in the country, representing a microcosm of India. I am proud to see that this property exhibition, with developers from across India, is catering to this diverse Indian population.”
Pickup
Michael Vasanth, CEO of Studioline and the event organizer from India, said “The Indian real estate sector is starting to pick up after what was undoubtedly one of the most disheartening periods.”
Earlier, genuine end-customers and home buyers looking at a real estate as an investment were confused by the market swings and preferred to hold on to their purse-strings, he said.
However, in the last five to six months, following government and Reserve Bank of India’s pragmatic policies for bolstering the real estate sector, we are seeing a confidence returning to the market, he added.
“People are looking at the current low prices offered by the bottoming out of the market and feel that now would be an opportune moment to invest in the Indian real estate.
“This property exhibition, aims to bring together under one roof all the stakeholders involved in the real estate business — the sellers, the renters, the service providers and the buyers.
“We have had singular successes in other markets in the Middle East, including Saudi Arabia and Qatar, and we hope to replicate that here in Kuwait,” added Michael.
Response
Ashish Jain, of Omaxe Ltd,one of the prime exhibitors at the event said that this was their second time in Kuwait and he hoped to build on and even better the response from their first exhibition.
“As economic indicators begin to show signs of greater stability, especially since the third-quarter of this year, we are seeing real-estate prices slowly beginning to edge upwards. Property investors are regaining confidence in the market and this had added to the positive momentum,” added Amit Kaushik, AGM — Business Development at Omaxe.
“With prices at current levels, I think now would be an opportune moment to buy a home for the family, or to invest in the real estate market in India,” he stressed.
Source:arabtimesonline.com/
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