UAE investments cross $10 billion, Says Ambassador

Officials at the inauguration ceremony. - Supplied photo
Officials at the inauguration ceremony. – Supplied photo

UAE sovereign wealth funds have invested more than $10 billion in India across renewable energy, telecom, road infrastructure among other sectors, the Indian envoy said during an event in Abu Dhabi.

At the three-day annual conference of Confederation of Real Estate Developers’ Associations of India (CREDAI), Sunjay Sudhir, Ambassador of India to UAE, underlined that bilateral relations have been accelerating with a surge in two-way investments. “We have made rapid strides in bilateral relations since 2014,” he said during his keynote address at CREDAI NATCON 2022.

Bilateral trade has continued to strengthen with the signing of the Comprehensive Economic Partnership Agreement (CEPA) in February 2022. “The India-UAE partnership is accelerating fast. We see this reflected in investments made in India by leading UAE companies in the last several years. In the last five years alone, more than $10 billion have been invested by UAE sovereign wealth funds across renewable energy, telecom, road infrastructure, affordable housing and startups,” Sudhir said.

CREDAI is the apex body of more than 13,000 private real estate developers in India. The conference, inaugurated by Sheikh Mohammed bin Nahyan bin Mubarak Al Nahyan, is being attended by more than 1,300 developers from India.

Sudhir asked builders to learn from the experience of UAE real estate companies and explore opportunities for partnership. - Supplied photo
Sudhir asked builders to learn from the experience of UAE real estate companies and explore opportunities for partnership. – Supplied photo

Sudhir asked builders to learn from the experience of UAE real estate companies and explore opportunities for partnership. “Our bilateral relations offer you the opportunity to partner with UAE companies in a big way and also to learn from their experiences,” Sudhir said and noted that Indian companies were investing in UAE in a big way across many sectors, including energy.

Meanwhile, CREDAI members pledged to be carbon neutral by 2050. “When the entire world is waking up to the need for green real estate, as an industry leader, we need to walk the talk by evaluating and exploring newer ways to reduce, and reuse waste through recycling,” said Harsh Vardhan Patodia, president, CREDAI.

CREDAI also announced a slew of measures, including collaboration with HDFC to empower tier-2 and 3 cities with a $3 billion fund. The body will partner with India’s first and largest integrated incubator and accelerator for startups – Venture Catalysts & NeoVon – to set up a $100 million Spyre VC Proptech Fund.

“India is a start-up hub, and a lot of new-age start-ups are finding solutions to real-world problems more swiftly and effectively. Our Sphyre VC fund will bring together a lot of young leaders who will help us in bringing sustainable realty to life,” Boman Irani, president-elect, CREDAI, said.

Satish Magar, chairman, CREDAI, pointed out that the real estate ecosystem in India has witnessed the “best year in decades” on the back of pent-up demand post-Covid-19 and positive consumer sentiment.

The three-day conference will conclude on Sunday.

The post UAE investments cross $10 billion, Says Ambassador appeared first on Vietexplorer.com.

View more from VietExplorer:

Artworks, photos on livestock husbandry on display
Danang Dragons begin to show weakness following string of remarkable victories
Young Photography Festival 2021 showcases 128 works
Vietnam calls for investments in 157 projects
Italian media highlights Vietnam’s important role in ASEAN
PM holds talks with French counterpart
Oc Eo – Ba The relic site to be proposed for UNESCO recognition
Museum industry: changes in response to the Covid-19 pandemic
Phu Quoc ready to serve international tourists
Vietnam considers innovation a priority
HCM City to promote tourism cooperation with Mekong Delta provinces
Hoi An, My Son to pilot welcoming international tourists this month
Weird yet tasty dishes in Dong Trieu
Camping on the white cliffs in Ha Giang
Spend only US$50 to sky-surf over Hanoi
Vietnamese culinary records recognised by international organisations
Vietnam’s international tourism looks forward to re-opening
Running tourism firms now is as risky as trading in stocks: company director
Hanoi’s five beautiful reed fields to visit in November
Thanh Hoa’s tasty fermented pork rolls

Comments

Post a Comment

Popular posts from this blog

Red Vermicelli: Dak Lak’s Delicious Delicacy

Image
Buon Ma Thuot not only has premium coffee with a unique delicious taste, but also many other famous delicacies such as wine, marinated chicken, fragrant rice tubes, and especially the excellent red vermicelli. Red vermicelli is a popular specialty of Dak Lak. Although there are some similarities with vermicelli in the South, the famous red vermicelli in the “capital of coffee” is very different. It has big, firm vermicelli, similar to Southern beef vermicelli but slightly better, about the size of a chopstick, chewy and crispy. Different from sophisticated dishes like pho in Hanoi, vermicelli with fish in Quy Nhon, bun bo Hue, or vermicelli in Can Tho, Ban Me red vermicelli is extremely rustic, strange, and especially delicious. At first glance, red vermicelli is quite similar to crab vermicelli, but this dish is made from pure crab meat, pureed pork and fat, vegetables, bean sprouts, and of course, boiled quail eggs. Photo: ttvn.toquoc.vn The special thing about red ve...
Read more

Vietnam Voted In Top 5 Most Attractive Destinations In Asia

Image
Accordingly, the country ranked fifth in the list, and it is one of the most peaceful countries in the world. The magazine noted that Vietnam has been developing with both youthful and dynamic vitality. It boasts numerous majestic and beautiful natural wonders. The beauty of Hoi An Ancient Town (Photo: Judyta Jastrzebska) The Travel mentioned limestone islands in unique shapes located in Ha Long Bay, Phong Nha Cave in Phong Nha – Ke Bang National Park, and charming rivers throughout the Mekong Delta region. Furthermore, vast rice fields and typical floating markets help to increase the attractiveness of this top regional tourist destination, it said. The Travel stressed that Vietnam is not only home to an array of natural beauty, but it also attracts tourists through its architectural works with century-old historical and cultural imprints. Rounding off the list are Japan, Indonesia, Thailand, and Laos. Reasons to visit Vietnam History Photo: Life of Doing ...
Read more

Stunning Vietnamese landscapes in 35AWARDS Photography Award 2023

Image
International photography contest – 35AWARDS,  with the largest number of professional jury, has attracted more than  450,000 entries from hundreds of photographers worldwide. The 35AWARDS honor photographers by offering awards in various photo genres, from aerial photography, and daily life to landscapes and wildlife. Let’s enjoy the photos by Vietnamese photographers whose work selected the Top 5 Excellent Photos and 100 Most Impressive Drone Photos of the 35AWARDS 2023.  Two hunting whales were taken by Pham Huy Trung on De Gi Beach in the central coast province of Binh Dinh, Vietnam, in August 2022.  The photo “Spring on the Tea Hill” taken by Pham Huy Trung in Dam B’ri Commune, Bao Loc District, the Tay Nguyen (Central Highlands) province of Lam Dong, is among the 100 most beautiful photos of this year’s award.   The photo titled “Mother’s Shoulder-poles” by Pham Chi Cong shows the image of an old woman with he...
Read more