Bangalore: Investors from United Arab Emirates (UAE) and some other Middle East countries like Oman and Jordan are showing their interest in Gujarat real estate market for investment, according to Gujarat realtors’, members of Confederation of Real Estate Developers Associations of India (CREDAI), who visited several Middle East countries recently.

The aim of Gujarat realtors was to discover the possibility of investment in the state from Middle East during their seven-day expedition to Middle East. As per developers, Middle East investors are inspecting the through growth in Indian economy as they are paying attention to invest in India especially in Gujarat.

Gujarati realtors came across investors from Muscat and Amman during the tour and stated that the non-resident Guajarati (NRGs) investors from these places are wealthy as well as powerful. Suresh Patel, vice president, CREDAI, Gujarat cited that “Investors in the Middle East are happy if they get around 5 percent annual appreciation of their investment in property. In comparison, the average return on investment in the real estate sector in Gujarat has been around 15 percent per annum. Hence, investors from the Middle East are interested in investing in Gujarat,” reports Dailybhaskar.

Earlier NRGs invested in Dubai real estate market but things have changed after the fall in Dubai real estate market. Dinesh Patel, president, Gujarat, CREDAI cited that "I have received a couple of enquiries from investors in Muscat and Jordan who are keen to invest here," reports Dailybhaskar. Moreover, Gujarat realtors are looking forward to sell their properties to Middle East investors as they are not getting enough amounts from domestic investors.

To gain in-depth knowledge about Middle East realty market in terms of quality and services, CREDAI delegation have looked into their several best-known projects like the Wave and Almouj Golf in Oman, the first ever sea-facing golf course designed by prominent Greg Norman.

Gujarat CREDAI division is looking forward to invite investors to their state during Vibrant Gujarat Global Investors' Summit-2013 and several other property shows organized by Gujarat Institute of Housing and Estate Developers (GIHED) to exhibit the state’s vibrant economy.