Now, one can import anything from India due to the duty advantage: chairman Danube Group
Now, one can import anything from India due to the duty advantage: chairman Danube Group
Danube Properties, the UAE-based ‘affordable luxury housing’ developer, said it would import building materials from India following the free trade agreement between the two countries becoming operational.
“Now, one can import anything from India due to the duty advantage,” said Rizwan Sajan, founder and chairman, Danube Group, in an interview. “Business between the two countries will grow tremendously. We will import tiles, laminates and even Indian plywood for our projects in Dubai. This will make us competitive in the market,” he added.
India and the United Arab Emirates had signed the Comprehensive Economic Partnership Agreement (CEPA) in February this year and the pact came into force in May.
Originally from Mumbai, Mr. Sajan has built his real estate business in Dubai from scratch and so far has delivered 13 residential real estate projects. He said most of his customers were from India though 70 nationalities had purchased houses in his projects.
He was in India to unveil his latest real estate project “Opalz”, a high-rise residential development that he said was offering ‘luxury at affordable prices’.
“We have chosen to launch this project from Mumbai, the financial capital of India, so that we can make a strong statement in the Indian market about the special significance of the Indian subcontinent in our business,” he said.
“This also reflects the high value that Danube gives to Indian clients in its entire ecosystem,” he said, adding that people from Mumbai, Delhi, Kochi and Ahmedabad were keen on picking up a second home in Dubai.
“It has now become simple and easy to make your home in Dubai, a global city that offers world-class infrastructure, safety, security, absence of corporate and personal income tax, ease of doing business and above all, quality of life,” he said.
Danube Properties said it would also facilitate the ‘Golden Visa’ for investors who invest above ₹4.2 crore in real estate. However, this is subject to approvals from authorities.
