Indian Builders to Explore BA Opportunities

The visiting delegation is coming from Gujarat, future home of India's massive GIFT project.

The Economic Times of India reports a group of 100 builders, developers and realtors from India will visit BA in July in order to explore investment opportunities here and in neighboring Brazil.

The organization leading the trade mission, the Gujarat Institute of Housing and Estate Developers (GIHED), is based in Gujarat, the westernmost state in India, one of the fastest-growing regions of the country and future home of the massive GIFT project.

GIHED President Suresh Patel says the exploratory trip should give the Indian delegation a better feel for an area of the Americas with growth parallels to India: “Both Brazil and Argentina have economies which are identical to the one in India. This will provide us with an excellent opportunity to compare and comprehend the real estate activities happening in these Latin American countries.”

In contrast to the Southern Cone optimism, another GIHED-led trade mission in January came away with a less-than-bullish feeling on potential upside in Dubai. According to Patel, “Though the property prices in Dubai are still on the lower side, builders are still apprehensive about investing in this place. A major reason is the return on investment, they are able to earn back home (in Gujarat).”

The 10-day GIHED mission will explore both residential and commercial properties with residential being the primary focus in Buenos Aires and commercial taking center stage in São Paulo. GIHED describes the two cities together with Rio de Janeiro as “the safest opportunities for real estate investment.” (Full article)

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