Dubai's Damac Properties woos Indian investors

Dubai-based Damac Properties will hold a two-day "road-show" in India beginning Friday to attract Indian investors to its latest luxury projects, the company's managing director Ziad El Chaar said.

"Indians are among the biggest investors in Dubai property markets. Our focus is to attract more and more Indians," Chaar told IANS in a telephonic interview from Dubai.

He said the company will showcase its latest luxury projects through road shows in Delhi and Mumbai. The road shows will take place June 28-29.

The focus will be its new project called "Akoya by Damac". It is a luxury villas project spread over 28 million square feet area at Umm Suqeim Road in Dubai.

"Akoya will be the most luxurious golf community in Asia, with premium mansions providing a luxury living experience within a fully integrated community," Chaar said.

Through the road shows, Damac Properties will also be showcasing its luxury serviced hotel apartments located at Burj Khalifa area, where the world's tallest tower is located.

"Indian clients have always been a key driver of the Dubai property market and remain one of the biggest investors in luxury living," Chaar said.

Asked about the impact of currency fluctuation on Indian investors, Chaar said it will have a temporary impact.

"Of course, the currency fluctuation will have an impact. But this will be temporary. In the long-run the demands by Indian investors will remain strong," he said.

Indian rupee has depreciated by almost 10 percent this year. It slumped to a record low of 60.76 against a dollar Wednesday. Devaluation of the currency will make overseas investments by Indians less attractive.