Dubai: With their advanced infrastructure, Downtown and Business Bay represent the best options for a new developer to come in and make headway with their projects. This applies to both getting the projects completed as well as making sure they are a hit with investors/end-users.
“There are limited new plot options available at these locations now, and they are the ones where values are recording some of the highest growths in Dubai,” said Ravi Pillai, chairman of the Bahrain-based RP Group, one of the largest Indian owned businesses in the region. In its initial foray into real estate development in Dubai, the Group is committing $1.5 billion (Dh5.5 billion) for mixed-use projects. The Group had extensive interests in construction and in ancillary services for the oil industry as well as health care.
“The best part of getting into established projects is that little time is needed on the support infrastructure … it’s already there. We intend to go directly into our projects.”