August 2, 2016 New Delhi:
Gauri Khan, will be the Guest of Honour at the second edition of International Real Estate Expo (IREX) that takes place from at the Ashok Convention Hall, Ashok Hotel, New Delhi.
IREX is an annual show that presents investment avenues for high net worth and wealthy individuals who intend to invest in international real estate and premium luxury properties. IREX 2016 will have participation from over 85 leading international real estate developers and marketing companies and is expected to draw more than 5000 visitors due to an intensive and targeted marketing campaign.
Singapore, Malaysia, New York, Dubai and various cities in the UK predominantly London - are the preferred destinations for Indian property buyers, according to property analysts. Because of the current ceiling on how much an Indian can invest abroad in a financial year (USD 250,000 per annum), central city locations are out of reach for a large number of aspiring Indian buyers. This makes peripheral locations, which tend to be cheaper, attractive to such buyers. The US or the UK are doubtlessly closest to the hearts of most Indians hoping to buy property abroad. With global agencies like Fitch predicting a 25% fall in property prices in the UK after Brexit, and the depreciating pound, the time seems perfect for Indians looking to secure a good investment in cities of choice. IREX presents a unique opportunity to international real estate and financial companies to tap the growing Indian market for international investments in this environment.
As part of its industry initiative, the organisers of the show have launched IREX Business Connect. IREX is bringing Indian property brokers in touch with international property developers, so that they can work for them as their sales agents in India. This opens new business avenues for the Indian property brokers and new investment opportunities for investors.
The show is timed with the annual festive season which is considered auspicious for new investments by Indians. As per the recent wealth report of a reputed London based firm Knight Frank, India’s high net worth individuals are heavily investing in real estate in other countries; and their numbers have grown 166% in the last 10 years. Almost 50% of all India’s UHNWI & HNI have foreign real estate in their portfolios, which is highest in the world. Indians are investing in international properties for appreciation in value, end use or rental earnings. Several international banks offer loans to non-residents in UK, UAE, US at interest rates that are considerably lower than the rates prevailing in the Indian market that makes these deals more attractive.
The upcoming edition, which is going to be held in October 2016, have confirmed participants like Damac Properties, Colliers International, Knight Frank, Shaikhani Group, Rak Properties, Invest US, Century 21, Compass, McMillan Hathaway, Emaar Properties, Sotheby’s International Realty, Trafalgar, R.P.Global, Herald, Aristo, Ray White etc.
IREX will present investment opportunities in high end Residential, Commercial, Hotel & Leisure etc. Leading international companies involved in community and master development, high rise buildings, premium residential towers, office towers, hotel and leisure facilities, retail outlets will be exhibiting their latest projects. Real Estate Investment opportunities in US, Canada, UK, Europe, UAE, Sri Lanka, Thailand, Indonesia, Hong Kong, Australia and New Zealand will be showcased at the show.
According to Mr. Vimal Anand, Director of IREX, “IREX is the only show of its kind in India that is held in line with prestigious international realty exhibitions held around the world that promote premium real estate investment opportunities. It offers a perfect platform for premium Indian and international real estate companies to tap the growing market. About 5000 visitors are expected to visit this year’s show. The participating companies will be able to create brand awareness, exhibit their latest project offerings and do on the spot bookings”
Speaking on IREX Ms. Gauri Khan, "I am happy to be associated with IREX. Indian luxury real estate buyers today, look to invest overseas for varied reasons, from wanting a holiday home to being close to children studying overseas. IREX is a great platform for them to evaluate options available to them internationally. I congratulate GMN Road Shows and Events on this initiative and wish them much success.”
COMMENTS FROM IREX 2015:
Coinciding with the event, an Investment Forum is being organized which will dwell on various issues of real estate investment in India and abroad. Real Estate Experts will be presenting and analyzing potential investment options and prospects. Project presentations will also form part of this informative forum where investors can gain insight to take informed investment decisions. The first edition of IREX, held in December 2015 in New Delhi, drew tremendous response from the visitors who could meet participating real estate developers and investment firms from US, UK, UAE, Australia, Cyprus, Greece, Sri Lanka etc
Knight Frank India was the Knowledge Partner to IREX, 2015. Mr. Shishir Baijal, Chairman & Managing Director, Knight Frank India said, “Indian real estate buyers are looking for either a second home, or want a place to holiday in, or some buy because their children are studying abroad. Increasing globalization, comparable valuations overseas and investment considerations, are few factors that are driving them to buy such properties. IREX is the right platform which enable one to choose from the best options available abroad, as well as in India for the premium luxury segment. It feels great to be associated as the Knowledge Partner with a platform of this kind”
Appreciating the whole endeavour of IREX, 2015 Mr. Niall McLoughlin, Senior Vice President, DAMAC Properties said, “Indian’s are the largest buyers of real estate in Dubai as they recognized the intrinsic value of luxury real estate in a progressive city, with international standard regulations, a tax-free environment and a booming tourism industry, all just three hours flight from New Delhi. IREX is a crucially important part of our marketing activities for the year where we will showcase a broad range of luxury living experiences including palatial villas overlooking championship-standard golf courses managed by the Trump Organization, private apartments in the Burj Area, limited edition branded developments in collaboration with global fashion brands such as Versace, FENDI and Bugatti, as well as luxury hotel apartments in key locations to capitalize on a tourism which will grow to more than 20 million visitors annually over the next five years.”
Colliers International is the Consultant & Service Partner International Markets to IREX 2016, Ms. Mona Jalota, Director, NRI & International Residential Services, Colliers International said, “IREX is an important platform, which brings together developers from across the globe to present exciting real estate investments to the global Indian customer. We are excited to partner with IREX and offer our consultancy and services to all participating developers, empanelled brokers and visiting clients.”
IREX is supported by National Association of Realtors (NAR) that has 1.1 million members from all over India. IREX is organised by GMN Road Shows & Events which is part of GMN Media Pvt. Ltd, an international media company that represents several media and exhibition brands in the Indian market and organises road shows and events for its clients.