Dubai is my second home; as said by bollywood actor anil kapoor has bought many of properties in Dubai, his statement was reported on Tuesday. This 59-year-old Indian actor has worked in numerous Bollywood movies and western blockbusters such as ‘Slumdog Millionaire’ and ‘Mission: Impossible are commendable and short but impressive appearance in Ghost Protocol’ with Tom Cruise is good too. He has reportedly bought units in Danube Properties’ Ritz project in the Al Furjan, Dubai.
The project, situated near the Ibn Battuta mall and comprising 452 fully-furnished apartments, already has strong links to the Indian community. This project Ritz is being constructed by Danube Properties, which is part of the Danube Group, owned by businessman Rizwan Sajan, with a fortune of $828 million, he is ranked the 17th richest Indian in the GCC in 2015.
Location, affordability and high rental yield are the 3 key factors, which have driven TV and Bollywood star Anil Kapoor to buy property in Dubai’s real estate market. and affordable prices of property in the project with the surety of good rental returns here in Dubai are almost 10%, which is fantastic. It is the good time to invest money in the property market here. and the mode of payment provided by Danube is also suitable and does not put lot of tension on buyer who wants to invest in property.
Presently Shilpa Shetty is publicizing the project with the company’s prior brand ambassadors being Juhi Chawla and Sunil Gavaskar. Some other Bollywood actors such as Shah Rukh Khan and Sohail Khan are also promoting projects in the emirate as well.
The first tower of the Ritz project had been already sold and some portion of the second tower has been pre-sold even before the launch. This project is only 800 metres from the Metro station; which is convenient for transportation; going to push the prices higher. In 2015, Indians alone have spended Dh20 billion in the real estate market, the total investments in the realty sector crossed Dh135 billion, of which nearly Dh74 billion was made by non-Arab investors.
Another big reasons for investing here is safe haven for investors, provides capital appreciation and impressive rental income. Average rental returns in India are 2.22% per year, while here in Dubai net rental yield range from 6% to 8%.
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