600 leading Indian builders in Dubai to explore opportunities
More than 600 leading builders from India have gathered in Dubai to explore new business and investment opportunities as part of a three-day event held for the first time outside India.
The Builders Association of India (BAI), the apex body of the Indian construction industry, has flown in about 1,000 delegates representing hundreds of leading Indian construction companies and contractors. They are here to discuss the construction industry’s potential in both countries and to facilitate joint ventures and alliances between Indian and UAE construction companies, said B Seenaiah, president of BAI.
India has seen a very sharp increase in the number of construction companies and contractors recently and is poised to become one of the biggest construction markets in the world by 2025, adding 11.5 million homes a year to become a $1 trillion per year market.
The three-day event is being held at the Atlantis Hotel from February 6 to 8. The All India Builders Convention, which was originally planned in Mumbai, was shifted to Dubai, because of the massive developments in the construction industry here.
India is expected to invest $1 trillion in infrastructure projects, which will give a big boost to the Indian construction industry, which employs 35 million people and this will benefit the UAE investors as well. One of the other reason to choose Dubai as the venue for the event is that the Indian companies want to gain from the realty boom in Dubai, especially after it succeeded in getting the Expo 2020.
Seenaiah said the number of Non-Resident Indians buying homes in India has been increasing and major infrastructure projects in different parts of India offer great investment opportunities for Indian and UAE companies.
Many big Indian construction companies are present in the UAE and similarly UAE companies are keen to take part in the huge infrastructure and housing projects in India, said C G Deochake, Chairman, Builders Association of India, Mumbai Centre. Indian Ambassador to the UAE T.P.Seetharam, Mirza Hussain Al Sayegh, Deputy Chairman, Oilfields Supply Center Ltd and Mohammed Al Noori, Director, Environmental Centre for Arab Towns, Dubai Municipality are among the officials addressing the convention.
The Builders Association of India hosts event with 600 leading Indian Builders in Dubai.
Arab Towns, Atlantis Hotel, B Seenaiah, Builders Association, C G Deochake, Dubai, Dubai Municipality, Environmental Centre, Expo 2020, Mirza Hussain Al Sayegh, Mohammed Al Noori, Oilfields Supply Center, T.P.Seetharam
