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Services for Non Resident Indians (NRI) from United Arab Emirates (UAE)

Indian Population in United Arab Emirates:
United Arab Emirates comprises of Dubai, Abu Dhabi, Sharjah, Ajman, Ras Al Khaimah, Fujairah, and Umm Al Quwain. The Population of UAE by March 2016 stood at 10.45 million. According to official World Bank reports, the population of UAE was 9.5 million by 2014. Indian Population in United Arab Emirates (UAE) by 2014 was approximately 27% of entire UAE Population which means about 2.6 million, making them the largest community in the entire UAE. It is to be noted that majority of Indian Population resides in 3 largest cities of UAE namely Dubai, Sharjah, and Abu Dhabi.

Of the 2.6 million Indians in UAE, more than 50% of them are from the states of Kerala, and Tamil Nadu. As per some estimates, 15% Indians in UAE live in rented rooms in cities, and approximately 26% of Indian migrants live in apartments/villas in 3 largest cities of Dubai, Abu Dhabi, and Sharjah. And the largest chunk of Indian migrants (approximately 33%) live in collective labor accommodations which are also knows as labor camps. Indian migrants are staying in UAE on employment visa, business or trade visa, spouse visa.

Property Management Services for Indian Diaspora from Dubai and other parts of UAE

Approximately 40% of Indians in UAE are in white collar jobs on employment visa. Additionally, many Indians in UAE have established successful businesses. According to Merrill Lunch report in 2005, there were about 33000 Indian millionaires residing in United Arab Emirates. According to the same report, Indians in UAE remitted 5 Billion US$ into India in 2005 alone. And Kerala received approximately 60% of those remittances in 2005. Indians in UAE are working in sectors such as petroleum, construction, financial services, real estate, manufacturing and transport. A sizeable number of Indians in UAE have set up their own businesses and have now established large franchises across the UAE. Some of the major brands established in UAE by Indian migrants are Choithram's, the Varkey Group, Lulu Hypermarkets, Alukkas and New Medical Centre, Landmark Group, Jashanmal, Ajmal Perfumes, and Jumbo Electronics.

Remittances by Indian Diaspora:
India continues to be the largest recipient of remittances sent by Indian Diaspora working across the world. In 2013, remittances by Indians in UAE jumped manifold and approximately, 14.255 billion US$ were remitted to India. Kerala was the largest recipient of remittances from Non Resident Indians (NRI) or Person of Indian origin (PIO) living and working in UAE.

Remittances received from NRIs in UAE go into various asset classes and maintenance of households in India. At one point of time, it was estimated that Kerala’s real estate was primarily driven by NRI money from UAE. Different regions of India have received remittances from Indians in UAE and a significant portion of these remittances goes into real estate investment. NRIs in UAE have also invested in various bonds floated by Indian Governments such as India Millennium Bonds and Resurgent India Bonds. Many NRIs from UAE have bought commercial as well residential real estate in Indian cities of Gurgaon, Noida, Kochi, Chennai, Hyderabad, Mumbai, Pune, Kolkata, Other parts of Delhi NCR region such as Ghaziabad and Faridabad, Bangalore, Chandigarh, Jaipur, etc. At the same time, there are many who are willing to invest in Indian real estate but they fear who will manage their properties in India. Since, their friends and relatives have also moved to different locations, they do not have anyone who can look after their property in India.

Relations between India and UAE:
Relations between India and UAE have largely been friendly. However, the visit by Prime Minister Modi in 2015 and subsequent visit of Sheikh Mohammed bin Zayed Al Nahyan in February 2016 have taken the relations between the 2 countries to another level.

UAE is India’s 3rd largest trading partner after USA and China. In 2015, India-UAE trade stood at massive 60 billion US$.

Various Indians bank have large banking presence in UAE. Some of them are Bank of Baroda, HDFC Bank Limited, Punjab National Bank, Union Bank of India, ICICI Bank Limited, Bank of India, Federal Bank, Axis Bank, Indian Overseas Bank (IOB), Andhra Bank, Corporation Bank, Indusind Bank Ltd. etc.

Source: Embassy of India, Abu Dhabi – United Arab Emirates

Property Management Services for Indian Diaspora living in Dubai, Abu Dhabi, and other parts of UAE:
NRIs from UAE remit a large amount of money into India. In 2013, remittances from Non Resident Indians and Person of Indian origin living in United Arab Emirates stood at 14.255 billion US$. Many of these NRIs have bought properties in India. There are many others who intend to invest in Indian real estate but for the fear of management of their properties.

At Managed Homz, we cater to NRIs and PIO audience living in United Arab Emirates’ cities of Dubai, Abu Dhabi, Sharjah, etc. Non Resident Indians can list their properties with us and our team of professional property managers conducts Property Management activities to manage the property. This way the property owned by an NRI from UAE will not only remain safe & secure but will also generate monthly rental income. The property value enhances over a period of time and net returns from property will be far superior than if it is locked.

One can find more about Property Management here.

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