Abu Dhabi: Real estate industry body NAREDCO hosts conference to strengthen India-UAE ties

The conference brought together participants, including government delegates from India, industry leaders, and from the UAE.

As per the organiser, the conference saw discussions on innovative solutions and investment strategies for sustainable urban development.

Mohamed Ebrahim Al Mansoori, Director General of the Sheikh Zayed Housing Programme; Ministry of Energy and Infrastructure UAE, and Minister's Advisor for Engineering Affairs, underscored the UAE's commitment to sustainability and urban innovation.

The UAE has reduced its non-oil GDP by 8 per cent, achieving a homeownership rate of 91 per cent by the end of 2023, the organiser quoted him as saying.

"These are the results of financial sustainability and progressive policies. By sharing our experiences, we aim to create eco-resilient cities that inspire the world. India's rapid urbanization presents immense opportunities for collaboration, and together, we can build a future defined by sustainable innovation," he said.

Kuldip Narayan, Joint Secretary and Mission Director (Housing for All), Ministry of Housing and Urban Affairs, spoke on the ambitious scale of India's housing mission.

He outlined how India in the past years facilitated the construction of millions of affordable houses.

"Our next target is to construct 10 million homes in just five years, doubling the speed of delivery. However, the scale of urbanization in India demands even greater efforts. Greenfield city development and innovative urban planning are crucial if we are to align our infrastructure with the country's economic growth, which is projected to grow at 7-8 per cent annually over the next 20 years," Narayan was quoted as saying.

He also noted the importance of a robust regulatory framework in driving progress.

"Real estate contributes not just to economic growth but also to societal development. The single-window interface for approvals must be streamlined to facilitate ease of doing business. We must embrace best practices from countries like the UAE to create urban environments that are sustainable, inclusive, and future-ready."

G Hari Babu, President of NAREDCO, emphasized the significance of the India-UAE relationship, describing it as the foundation for the event.

"India and the United Arab Emirates are the best friends in the world today. With representatives from India attending this conference, we are taking important lessons in sustainable urban development back home. India's housing journey has progressed from providing basic homes to affordable, sustainable, and now luxury housing for all. Cities like Hyderabad are seeing apartments worth 20-25 crores, reflecting the remarkable growth of our real estate sector."

Niranjan Hiranandani, Chairman of NAREDCO, also emphasized the significant contributions of the real estate industry to India's economy.

Currently responsible for an estimated 7 per cent of the GDP, the sector is projected by Niti Aayog to expand to 15 per cent as India approaches a USD 5 trillion economy. (ANI)