Morya Housing in deal with Dubai firm

Dubai real estate major Dubai Properties has inked a deal with city-based Morya Housing to market the former's properties in India.

Morya Housing will promote a portfolio that includes Dubai Health Care City, Dubai Media city, Dubai Internet City and Jumeirah Beach Residence.

It will also promote a 64 million sq ft commercial property, Business Bay, estimated at $80 billion. Mohamed Binbrek, chief officer - portfolio management, Dubai Properties, said the company has been looking to enter India for some years now.

"Ideally, our target is Indians who have business interests in Dubai and may want to buy a second or a holiday home there," he said. Binbrek said a few years later his company would also consider entering Indian real estate sector.

Uttam Jhavar, CEO, Morya Housing, said, "With the RBI easing regulations for Indians investing abroad, we see huge potential for the tie-up."