Non-resident Indians currently contribute 15-20% of the real estate developer’s total sales
Indian real estate developer Tata Housing has opened an office in Dubai to meet growing demand in the region, the company announced.
The Dubai office, targeting non-resident Indians (NRIs), will enhance the global presence of the developer, which already operates in the Maldives and Sri Lanka.
“With the opening of our Dubai office, the company will reach out to NRIs who constitute more than 30 percent of the population in the UAE,” said Brotin Banerjee, CEO and managing director at Tata Housing.
“The Gulf market has witnessed rapid strides in the past decade with GCC [countries] contributing to more than 50% of our international sales. Opening this office in Dubai reaffirms our commitment to this important market and will enable us to provide support to our increasing number of customers from the UAE.”
Tata Housing is currently developing projects in several Indian cities including Mumbai, Pune, Ahmedabad, Goa, Gurgaon, Chandigarh, Bengaluru, Chennai, Kolkata and Bhubaneswar. Non-resident Indians (NRI’s) presently contribute 15-20% of the developer’s total sales, Banerjee remarked, and the company expects this figure to increase to 25-30% in the coming years.
To mark the opening of its Dubai office, the developer has announced a limited period offer titled ‘Happy Returns’, wherein a customer who purchases a home across any of Tata Housing’s projects in India is awarded 72,000 – 1,000,000 JetPrivilege Miles (air miles under Indian airline Jet Airways’ loyalty programme). The offer is applicable to customers living outside India with valid NRI status including Indian passport holders, those having valid work permits outside India and green card holders.