The opportunist

Indiabulls Real Estate is to launch offices in the Gulf as a part of its overseas expansion plan. The firm is looking to set up representative offices in Saudi Arabia and Bahrain by the end of 2013. It has also set up banking alliances in the UAE, Qatar, Oman and Kuwait to generate interest and offer home loans to Indian expatriates. The Indian real estate market, which is expected to reach $90 billion by 2015, is undergoing a shift. The fall of the rupee is encouraging more investment by Gulf-based NRIs into the realty market which offers relatively higher returns. Indiabulls, led by Chairman Sameer Gehlaut, has also over the years identified potential areas in India and developed projects including residential complexes, integrated townships, commercial office complexes, hotels, malls, and infrastructure development. The company focuses on super metros with 90 per cent of the projects in the Delhi NCR region, Mumbai and Chennai.