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For some time now, Indian investors have been gravitating towards the luxurious setting of Dubai to invest in its real estate sector. Among these investors is a group of people who are worshiped by fans in India and abroad for their onscreen performances and off-screen antics -- Bollywood stars.
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Contrary to popular belief, oil reserves are not what megacity Dubai's economy banks on for sustenance. For this reason, the government of Dubai has invested time, money and strenuous efforts in diversifying its sources of income, with leading sectors being real estate, construction, tourism and hospitality. Among these, the emirate's real estate sector has emerged as one of the most remunerative and reliable industries.
India appears to be hitting its stride in the real estate sector again, following an extensively wretched period of overpriced properties, unnecessary delays in developments and withdrawal of foreign investment. According to reports, property firms in the country have received more than $910 million in the past few months from Wall Street leaders like Goldman Sachs, Blackstone and Warburg Pincus. A similar trend, interestingly, is evident in Pakistan too.