As an executive in a telecom multinational, Hong Kong-based Edward Wong travels virtually every month to Mumbai and Delhi.
HONG KONG: As an executive in a telecom multinational, Hong Kong-based Edward Wong travels virtually every month to Mumbai and Delhi.
Although his work schedule on these trips leaves him very little time to explore these metropolises, he has heard enough to understand that the Indian property market is on a hot streak.
On Friday, Edward and wife Mei Han turned up at the India Property 2006 fair in Hong Kong to see if they could get a piece of the real-estate action in India. “We want to know whether Indian laws will allow us to invest in the booming property market there,” they told DNA.
“And if the laws permit us, we’d want in, and would like to know what the investment procedures are.”
Some 10 property developers — mainly from Mumbai, Pune, Delhi, and Bangalore — and two big housing financiers — HDFC and SBI — are participating in the exhibition, which has been organised by the Maharashtra Chamber of Housing Industry and the Confederation of Real Estate Developers' Association of India.
The three-day fair, which opened on Friday, is targeted at non-resident Indians, but there has been unusual interest from some unlikely quarters.
"We've had a fair number of Chinese visitors and expatriates from the US and Europe," say Anita Garg and Jyoti Ramesh of Jade Group International, the Hong Kong coordinators of the exhibition. "And they aren't just strolling in casually. They are very keen to invest. India is big on their minds."
What's drawn people like the Wongs to the Indian market in particular? "We've invested in property markets in other countries as well, but the kind of phenomenal capital appreciation that the Indian real estate market has seen in recent times is, from our experience, exceptional," says Edward.
Would the Wongs ever consider living in India, or do they see it as just an investment? "We don't know yet," says Mei. "For now, certainly, we see it as just good investment. But who knows what'll come of it?"
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}