Indians are top property buyers in Dubai; invested Rs 42,000-cr in 6 months

Agencies
October 27, 2017

New Delhi, Oct 27: Indians invested  Rs 42,000 crore between January 2016 to June 2017 to buy immovable properties in Dubai, thus becoming biggest foreign property buyers in the Emirates again..

According to the Dubai Land Department, the property purchase has seen an increase of Rs 12,000 crore from 2014.

In yet another report, the Dubai Land Department had last month said that etween December 2015 and June 2017, overseas investors put up as much as 41 billion to purchase property in the Emirates.

Indians topped the list of foreign investors with USD 5.6 billion, followed by Saudis who pumped in USD 3.4 billion.

Sales of properties in Dubai rose rapidly in the years after the market was opened to foreigners in 2002.

Prices soared as investors piled in, but when the global financial crisis hit the debt-laden emirate in 2009, it sent them into free-fall.

A recovery led by tourism, trade and transportation pushed prices up again between 2012 and 2014.

But in 2014, a glut in oil production slapped down the price of crude, hitting the Gulf economies that underpin Dubai's real estate sector.

Prices for homes in Dubai have since dropped by over 15 per cent and rents have fallen even more.

Earlier this month, a report by Knight Frank India and the International Real Estate Expo (IREX)  said that most Indians buy homes abroad for investment purposes followed by the aspiration of having a second home.

Sixty-three percent of the resident Indian buyers preferred compact apartments of less than 1,500 sq ft.

The report said that property overseas became affordable in 2016-17 due to strengthening of the rupee compared to the previous fiscal, when buyers had invested USD 88.4 million.

Approximately 77 percent of the Indian buyers prefer a property that is less than USD 1 million, the report said.

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News Network
November 11,2024

Udupi, Nov 11: A traveller reportedly lost ₹4.1 lakh after attempting to book a cab online in Udupi. 

At around 1:30 PM on November 7, the man from West Bengal searched for car rentals on Google and selected a website named "Shakti Car Rentals." Shortly after, he was contacted by someone claiming to be "Rohit Sharma," who directed him to pay a registration fee of ₹150 on the site.

After unsuccessful payment attempts via both his Canara Bank debit card and SBI credit card (without receiving an OTP), "Rohit Sharma" instructed him to pay the driver directly. But at 1:47 PM, he received messages showing deductions of ₹3.3 lakh from his SBI credit card and ₹80,056 from his Canara Bank debit card, totaling ₹4.1 lakh.

The complainant alleges fraud through a deceptive link disguised as a booking token fee. A case has been registered at Udupi Town Police Station.

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November 21,2024

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The International Criminal Court (ICC) has issued arrest warrants for Israeli prime minister Benjamin Netanyahu and his former minister of military affairs Yoav Gallant over war crimes against Palestinians in the Gaza Strip.

The court’s Pre-Trial Chamber I issued warrants of arrest for Netanyahu and Gallant "for crimes against humanity and war crimes committed from at least 8 October 2023 until at least 20 May 2024, the day the Prosecution filed the applications for warrants of arrest”, it confirmed in a statement Thursday.

It is the first instance in the court's 22-year history it has issued arrest warrants for Western-allied senior officials.

In its statement, the ICC's Pre-Trial Chamber I, a panel of three judges, said it has rejected appeals by Israel challenging its jurisdiction. 

The chamber said it has decided to release the arrest warrants because "conduct similar to that addressed in the warrant of arrest appears to be ongoing", referring to Israel's ongoing onslaught on Gaza.

Netanyahu and Gallant, it said, “each bear criminal responsibility” for “the war crime of starvation as a method of warfare; and the crimes against humanity of murder, persecution, and other inhumane acts,” as well as “intentionally directing an attack against the civilian population.”

All 124 states that signed the Rome Statute, the treaty that established the court, are now under an obligation to arrest the wanted individuals and hand them over to the ICC in the Hague. 

The court relies on the cooperation of member states to arrest and surrender suspects. The Netherlands' foreign minister quickly said his country was prepared to enforce the warrants while 93 nations earlier reiterated their support for the ICC.

Triestino Mariniello, a lawyer representing Palestinian victims at the ICC, called the warrants "a historic decision".

He noted that the court had endured "pressure and threats of sanctions" from the US government, but acted nonetheless.

As expected, the Tel Aviv regime rejected the rulings, with its security minister Itamar Ben Gvir calling the warrants “anti-Semitic through and through.”

The ICC said Israel’s acceptance of the court’s jurisdiction was not required.

Israel and its major ally, the United States, are not members of the court. 

Israel unleashed its bloody Gaza onslaught on October 7, 2023. So far, it has killed at least 43,985 Palestinians, mostly women and children, and injured 104,092 others, according to the Gaza Health Ministry.

Israel faces an ongoing South Africa-led genocide case at the International Court of Justice (ICJ).

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November 12,2024

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Mysuru, Nov 12: Zameer Ahmad Khan, the Tourism and Waqf minister of Karnataka, who stirred a controversy by addressing the Union Minister HD Kumaraswamy as ‘Kaala Kumaraswamy’ has tendered apologies for his remarks.

Speaking to reporters in Mysuru on Tuesday, Minister Zameer stated that he will apologise if remarks have hurt JD-S workers.

“We both are very close. Then, in a total of 24 hours, we were together for 14 hours. He used to fondly address me as “kulla” (shorty) and I used to address him as “kariyanna” (blacky, kaalia),” Minister Zameer stated.

“I am not addressing him as ‘kaalia’ for the first time. I have not said something highly derogatory. It is being made as big in the backdrop of elections. With love, he used to call me a shorty and I called him a blacky. If I had caused pain to anyone by my words I apologise,” he said.

He further stated: “Kumaraswamy had said that he didn’t want the votes of the Muslim community. But now they are attempting to purchase Muslim votes. Against this backdrop, I have made the remark.”

Minister for Home G. Parameshwara stated on Tuesday, “Minister Zameer and Kumaraswamy are close friends. Their comments against each other are not significant.”

Zameer Ahmad Khan, the Tourism and Waqf minister of Karnataka stirred a controversy on Monday as he addressed the Union Minister as ‘Kaala Kumaraswamy’.

JD-S on Tuesday demanded a public apology and resignation of Minister for Waqf and Tourism Zameer Ahmad Khan over his ‘racist’ remarks.

“Remember, there is no place here for your divisive policies. You have insulted the people by making ethnic, racist and discriminatory statements. You should apologize to the people of the state and resign,” the JD (S) demanded in the post.

Union Parliamentary Affairs and Minister for Minority Affairs Kiren Rijiju reacted sternly to the racist jibe and stated, “I strongly deplore Congress Minister Zameer Ahmed calling Union Minister and former Chief Minister of Karnataka Kumaraswamy as 'Kaalia Kumaraswamy'.

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